They say the sky is the limit, but that’s not quite the case for credit cards. As exciting as access to heavy cash flow sounds, it comes with great responsibility and restraint. Especially if you’re a shopaholic and always looking out for sales and bargain deals! We don’t blame you since retail therapy can be quite exhilarating. However, it could easily damage your credit score without proper monitoring.
While browsing different credit card types, you might have noticed the mindboggling number of benefits and features they offer. Aside from the numerous advantages, they have certain features that target specific lifestyles. It includes credit cards for frequent flyers, online/offline shoppers, movie enthusiasts and more!
So, which one should you apply for? It’s tempting to go for them all, but that might not work out for the best. Owning too many credit cards is not a crime, but poor personal finance and an over-reliance on credit could tarnish your credit score. That said, there are some cases in which multiple credit cards could come in handy!
With so many credit card types around, what if you succumb to the temptation and apply for them all? It’s unlikely that your CIBIL score will be affected by these enquiries. But, that’s not the primary concern here. While weighing the benefits and consequences of over-indulgence in plastic money, consider these pros and cons.
Those cons put things into perspective, making the reality grimmer, but that doesn’t make it any less valid. Indulging in too many credit cards can go from being a blessing to a curse in a few missed payments. To avoid such situations, stick with a single credit card if it’s enough to meet your requirements.
If you haven’t found a credit card yet, what’s the hold-up? Of course, it’s the tangling decision of choosing between credit cards with features like cashback, rewards and shopping!
You could spend hours contemplating and soul searching, but sometimes choosing between credit cards can seem like an impossible task. After all, how do you choose between these features? It’s best to take matters into your own hands and draw a comparison between the options before you. Become the judge and jury of your first or next credit card!
These credit cards offer shoppers the benefit of getting back a percentage spent. Though, this feature may be exclusive to certain pricing ranges or categories. It allows users to purchase more items freely without worrying about overspending since they get a certain amount back.
Unlike the cashback variant, these cards will dispense reward points for transactions made using it. However, certain conditions make a purchase eligible to receive reward points. Such rewards could be earned on all transactions, provided they adhere to the minimum purchase limit.
A shopping credit card offers a variety of benefits, often clubbing the features that the previous variant provides customers. Some features include discounts, reward points, bonuses and an EMI payment option.
What’s the final verdict, you ask? This entirely depends on your preferences! Cashback credit cards are great if you would like a percentage of money back from purchases to invest in something else. You can amass points based on your credit utilisation with rewards credit cards. And lastly, a shopping credit card offers the best of both worlds and more!
So, don’t waste another minute pondering – apply for a credit card on Bajaj MARKETS today!