If you are going to get a credit card soon, you must be careful about taking the right call. Today, we will talk about people who earn over one lakh a month. When you have a decent salary, you can apply for premium credit cards.
In this blog, we will try to understand some of the hugely popular credit card options in the market, getting cashback, and other facilities. As there are so many credit card options in the market, it is hard to take out one. Keep reading, and in the end, you will be able to find the best option for yourself. You should also talk to a personal loan DSA for help.
Things that We Need to Check Before Applying for The Card
In India, before choosing a particular credit card, it is mandatory to check some of the features that you are going to get, fee structure and more. The following aspects will surely help you in the long run.
What is the Available Credit Limit?
Getting one lakh per month means you can afford luxury credit cards. Most of these cards can get you enough limit that can quench your needs. You will not face any challenges while spending. The higher the credit limit is, the lower your utilization ratio. According to professionals, this will improve your CIBIL score and help you have a balanced portfolio.
What about Annual Fees?
Are you familiar with the annual fees of those premium credit cards that we were talking about? Although some cards are free, most of them will charge you. One good offer for you is to spend over a certain amount to waive the cost of the card. Carefully pick the credit card that can get you all the perks you are looking for.
Can We Get Any Reward?
The next thing that we must check is to understand the reward facilities. For example, when you use your credit card to pay bills in a restaurant or other places, you will earn some points. These points are effective during the redeem process.
Checking the Interest Rate Is Important
Interest payable on the credit card debt is not the same. The rate might vary from one bank or card to another card. After the repaying period is over, these banks will charge you a heavy interest rate. Carefully plan your financial aspects so that you don’t need to worry much about handling pending debts.
Get Proper Customer Support
The credit card company you are choosing must offer quality customer support. It needs to be seamless and effective. List down all those banks and credit card companies having the best customer care support and then pick one which you like the most. In this way, you can ensure that your question is being heard and answered properly.
International Use
Can you use the particular credit card internationally? People who travel to foreign countries especially check about currency makeup fees, lounge access, and other necessary aspects and then choose a card with more facilities and less cost. Visit a DSA app to find out the aspects we have shared so far.
Welcome Benefits
Finally, the credit card should get you welcome gifts and complimentary services after signing up. Compare different welcome offer values and try to reduce the effective cost. Talk to an expert to learn more about these aspects.
Some of the Options You Must Check Before Finalizing Your Credit Card
Here are some popular credit card options that will help you fulfill your demands-
Know about HDFC Credit Cards
HDFC Regalia credit card is one of the most popular credit cards out there. You will get reward points for spending money and even get airport lounge access. The annual fee is around 2500, which will also be waived when you are spending over 3 lakh per year.
SBI Elite Card
SBI Elite is also a good option. Here, the reward points are lower than the HDFC one, but it will have some other benefits. If you love going to movies, you will get movie tickets worth Rs 6000 a year. The international lounge is also available with this card.
There are so many other options that you can have in India. Have enough time to compare these facilities and get professional help if needed.
