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Is There Any Such Thing As The Best Credit Card In India?

By Expert Author: Mano Prakash

Convenience is fast becoming an integral part of life everywhere. One of the clearest examples of this trend is being observed in the way people conduct financial transactions, more specifically, when they are making a payment for something.

Back in the day, something like a mode-of-payment was virtually unheard of. If one wished to purchase something, cash was the de-facto language that everyone spoke. This adage held true not just for purchases made in the course of routine, everyday life, but also for larger ticket sizes, which, in some cases, stretched up to a hundred thousand as well.

But the winds of convenience were blowing through the nation and people soon got hooked to swiping a tiny rectangle of plastic and the many advantages that came with it. Soon, there was a mad scramble among people who suddenly wanted to have the best credit card in India. But wait; is there ever such a thing? No one can quite tell for sure.

What can however be done is to have a general guideline of sorts in place for those that are on the lookout for one:

* The best place to begin is by comparing the one factor that has the maximum financial repercussions, and that’s the interest rates! Simply put, credit cards come with the convenience window where one can pay the issuing bank the money owned without incurring any further charges. But as is wont to happen, people generally tend to roll-over their debts. Those who are careful enough can and do get caught out by excessively high interest rates. Needless to say, make this the focal point of your checklist.

* There is a limit to how much one can spend and this is true for even the best credit card in India (if in fact, you believe that such a thing does exist). While issuers are known to being slightly flexible to their customers, it helps to go with a service provider who will be more than willing to accommodate your requirements.

* If there is one thing that has rubbed people off the wrong way about cards, then it has to be the fees being charged. People ought to remember that a credit card (& an atm card too) is a service, a privilege that is extended by their bank. Naturally, they are expected to pay a certain amount for this. But, not every bank charges the same fees and nor does every card holder pay a uniform amount to the same bank. This is why; it is best to check and negotiate till they are satisfied with things.

* These days, card issuers have forged deep level tie-ups across the entire purchasing universe. Usually, anything and everything that is purchasable by card, is eligible for loyalty discounts & benefits. Frequent flier miles, for instance, are a popular option and a rather lucrative one too, for those that travel on a regular basis.

Ultimately though, one would do well to remember that their credit rating is what governs things to a significant extent. Issuing entities have even gone on to base their decisions based on the credit worthiness. So reach out to the authorities for your credit score that is available for just a small fee. It might just save you a lot of heartache.

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