A credit card can make the process of payments - both in-store and online transactions - so much more convenient and faster. But it is important that you choose the most suitable credit card depending upon your lifestyle. It is always advisable to study your spending habits, understand where you spend the largest proportion of your money and then select a credit card that can maximise your benefits within that head of expenditure.
Choosing the right card can make all the difference, so make sure you pick and choose wisely. Here are a few types of credit cards:
Airline Credit cards
Are you a frequent flier? There’s a credit card for you that allows you to receive benefits like bonus points on flight tickets, exclusive access to airport lounges, cashback rewards, reward points, among other perks.
Travel credit cards
On the same principle as the airline credit cards but slightly more vast, travel credit cards offer you benefits like complimentary lounge access, hotel booking discounts, extra air miles when you travel by certain airlines, discounts/lower exchange rates on forex when transacting abroad. In fact, the travel card under the Bajaj Finserv RBL Bank SuperCard umbrella of credit cards offers extra rewards on all the spending you do abroad, in addition to a sizeable welcome gift. The Bajaj Finserv RBL Bank SuperCard, available on Finserv MARKETS, can work as 4 cards in one - a credit card, a cash card, a loan card, and an EMI Network Card.
Fuel credit cards
Do you drive your vehicle to and from work every day? Your fuel credit card can actually help with the commute being a little more rewarding. Fuel credit cards offer reward points and cashback offers on your fuel payments; you can also collect points for refuelling at partnered outlets. This is a popular credit card today because commuting to work is an indispensable activity and if you can save money here, it is a long-term benefit. A fuel credit card can help lower expenses incurred on fuel on a regular basis by enabling you to redeem reward points, through cashback schemes or other similar perks and benefits.
Shopping credit cards
As the name makes it amply clear, shopping credit cards can serve you well if you are an avid shopper. If your idea of unwinding over the weekend includes retail therapy, you should consider shopping credit cards. The way shopping credit cards work is they earn you reward points every time you shop at partner stores or online. It is customised to suit your daily shopping needs.
Business credit cards
A business credit card is different from a personal credit card,which you would generally use for shopping, bill payments, etc. A business credit card, as is obvious by the name, is intended to serve your business requirements. You can use this credit card for all transactions that fall within the ambit of your business. All your business spends can then also accumulate reward points, cashback offers at stores where the business usually buys its goods and services from, bonus rewards when certain spend milestones are reached.
Moreover, if your business requires employees to travel often for work, then you can also cover flight tickets and hotel bookings under the card. This will further help you load up on cashback, rewards etc. A business credit card can be extremely handy to segregate your personal expenditure from your business expenses. It can go a long way in ensuring smooth tax-filing. For a small or medium business, the best business credit card can come in the form of the Bajaj Finserv RBL Bank SuperCard that channels the power of four cards in one - you can avail benefits of a cash card, credit card, a loan card, and an EMI Network Card with this single card. So don’t wait and load up on your rewards and offers.
Before you decide to get a credit card, follow this process: make sure it is suitable to your needs, compare the various options available on different parameters like the credit limit, the perks and reward points and make a fully informed decision.