essential consideration before picking up a credit card

Credit cards can be blessing for some or a curse depending upon the usage of it or how one can manage it.  So, choosing the right card and using it wisely can actually help you to save a lot of money. Credit card in your wallet is one of the most valuable and handy personal finance tools, with India fast moving towards the cashless economy.

Things to consider while choosing a credit card-

There are numerous of credit cards available in the market, but choosing the top credit card in India, you need to shop around wisely to get the best one which suits you more and is also pocket friendly. Hence, it becomes important to look beyond the factors and consider the following points when choosing a credit card-

1. Annual Percentage Rate (APR)- It is a cost of borrowing on the card, if you don’t pay the whole balance off every month. So, always compare the APR for different card, it will help you to choose the cheapest one which is in your budget.
2. Annual fee- Annual fee is the amount charged by the banks every year on the usage of the card. It is a fee added to the amount due and on which you will have to pay interest as well as on you spending, until you pay it in full. It is advisable to go with card with no annual fee.
3. Look at the penalties and fees- one of the most important thing that you have to consider is the charges related to the card. Before going with any one, check in the agreement that what other charges apply to the card that you will be charged for going over limit, for using the card at international level or abroad, for late payments or more.
4. Credit limit- This is a maximum amount up to which you can use the card without paying an over limit fee.  Exceeding this limit will leads you to pay an over limit fee on the amount exceeded.
5. Rewards and special offers- Nowadays, credit cards come with special offers and rewards. From movie tickets to discount on electronics item, from dining out to cash back on spend that you made from your card. So, it is advisable to pick or choose a card that comes with number of offers and allows you to earn maximum points from an activity you do regularly. 

Applying for the credit card is just become a task of few clicks, for applying the card online, you can visit https://www.applykaroo.com/credit-cards.