How important it is to decide your credit options?

Need for credit card could be to acquire rewards or to rotational spending

10:17 30 September 2013

The credit cards are now the need for every people as we are at the position where disposable income is high and everyone wishes to buy their assets through a loan or an instrument that provides zero percent interest and zero down-payment. With growing changes in the retail sector, cash backs and joint offering discounts provided are increasing the spending of their customer but it is best possible only if there is post-paid option. There comes the picture of credit cards and allied offers. 

 

The cautious thing would be how you plan your spending as many credit card companies provide you an option for analyzing your spends and the possible reward points you would acquire. This is the best way where you are rewarded for your spending and the reason behind this is to increase the supply for unsold goods by the retailers.

 

What are the factors to consider when choosing a credit card?

 

• Introductory interest rates - Does the credit card offer this kind of promo for balance transfers? For how long? Compare with other cards to see which has the best offer.

 

• Loyalty points or rewards - Analyse if this could be helpful to you. For every purchase you make on your credit card, there is an equivalent reward points awarded to you. You may use this to pay for your annual fee or for payment for your other purchases. 

 

• Cash back - Verify how you may avail this offer. If they offer it for cardholders who pay their dues in full, and you do not pay your monthly dues in full, then you are not qualified for such promo. This card won’t be suitable for you.