The general belief is that using a credit card as a mode of payment induces unwanted expenses. Actually, it is the best way to get a firm handle on your expenses, today and for tomorrow.
Credit cards give you the power to spend money that you do not yet have. Hence, when making a credit card payment, especially involving the best credit cards in India, one should carefully understand when and where interests accrue and how you can avoid penalties.
Once you have a clear picture of this in your head, and you study the monthly statements from the credit card company, you can adjust your payment schedules, keeping in mind your standard revenue sources, such as your salary.
More importantly, you should sit down and make a plan on which payments would best suit a cash transaction and which can be rolled over, without penalty, using your credit card. The credit card payment mode will surprise you as being the most suitable.
The much-touted benefits of a credit card are many. They are:
- An opportunity to build Credit. Handling your payments tactically, not overspending and paying back in time creates a favourable credit history that will help you in the future. Hence, you are creating a history of credit, even when you have not approached any bank for a loan.
- You can earn rewards such as cash back or miles points. While these aren’t as important, consider these as bonus or rewards for your dedicated efforts in your credit card payment history.
- No foreign transaction fees. This is important for those frequently travelling abroad on business or other work. Consider your savings when you are not forced to purchase a Forex card and consider the complications of refilling that card when you are out of cash in a foreign country.
- Increased purchasing power. This is the biggest advantage, though not used wisely could turn out to be your biggest disadvantage.
- The best credit cards in India are not linked to a checking or savings account.
However, here are some bigger benefits:
- A complete control over your current and future expenses, while the backroom of the credit card office provides you with a complete lowdown (statement) on expenses for free on your credit card payment.
- Consider your usual revenue dates – such as salary – and use the 45-day interest-free period to prioritise expenses and/or restrict expenses. This facility is provided by the best credit card companies in India, such as HSBC Citi, Indian Oil Citi, HDF, Yatra SBI, HDFC Diners, Axis Bank etc.
- You can also use your credit card for EMI payments, and some special credit cards, such as the Bajaj Finserv RBL Bank SuperCard gives you the power of 4 cards in 1. This is a new concept, in which this SuperCard acts as a credit card, a cash card, a loan card and even an EMI card all rolled into one. This card allows you to make further planning of your revenue source. A single revenue source, such as your salary will need constant monitoring, and having the option of a quick cash withdrawal when you are desperately short, is vital to all financial planning. This card allows you that freedom.
- Prioritising expenses will not only help you make a cool judgement of your current financial position, but will also allow you to pinpoint taxation pitfalls.
- Many credit cards offer special facilities to the customer, but Bajaj Finserv RBL Bank SuperCard has designed its payment system in such a way that you barely feel any pinch in your pocket. Start with the ease of EMI conversion, where you can convert your high-end purchases above Rs 3,000 into affordable EMIs effortlessly with the Bajaj Finserv co-brand credit card. Most importantly, this is an acceptable plan in any proper store.
- The emergency advance facility is a tailored personal loan for 90 days on your cash limit with a nominal Credit card Interest rate of 1.16% pm with no processing fee applicable.
- As if this was not enough, this card, possibly the best credit card in India, allows ATM cash withdrawal with no interest across India. Such withdrawals are more affordable using the SuperCard. Pay no interest on withdrawals for up to 50 days and fulfil your immediate cash requirements easily.
- And there is the well established Bajaj Finserv privilege. Every SuperCard member can enjoy attractive benefits from partner outlets of Bajaj Finserv. Avail of discounts and exciting EMI offers on a range of products like accessories, gadgets, clothes, groceries, etc.
- How long is the wait for this benefit? Almost instant, actually. The process is simple: Submit an online credit card application to get instant approval on credit cards only from Bajaj Finserv with only a few basic documents and simple eligibility criteria. These SuperCards also attract nominal joining & annual charges.
- As we talked about rewards before this, probably the best credit card in India, allows Best Rewards. The company’s credit card offers attractive reward points basis on spends, card type and welcome bonus. Customers can redeem these reward points to make down payment at 90,000+ EMI Network partner stores. Also, the reward points can be used to avail discounts, gift vouchers, movie tickets, fuel surcharge waiver etc.
- Then, there are huge annual savings when you make your transactions using the Bajaj Finserv RBL Bank SuperCard. Read more about it at: https://www.bajajfinserv.in/super-card and save up to Rs 55,000 yearly.
- Finally, this card comes with a strong security, giving you protection and helps you avoid cybercrime threats, because this Credit Card features zero-fraud liability cover and in-hand security.
All things considered, while the best credit cards in India are around to cater to sudden whims of expense, Bajaj presents a very special card, where your whims are controlled and your desires are measured in calculated steps, always keeping you within fiscal prudence.
You can also visit here Offshore payment card for more information.