Planning to get a credit card? Here’s how to choose the best one

Choosing a credit card can become a difficult task. Sometimes what we do is we end up taking one from our bank because it is convenient. However, that can prove to be a wrong decision. 

Check out some of the tips to choose the best credit card for you. 

Discounts and rewards

While some of the credit cards provide good discounts at restaurants, others reverse fuel surcharges. Besides that, a lot of other cards change reward points to airline miles or give the highest multiple. 

It is advisable to always choose a credit card that suits your requirements. Now if you are not a travel freak, then those cards that convert reward points to airline miles will be of no use. But a card which provides shopping benefits will be of great help.

International benefits

There are several credit cards that give international airport lounge access at zero additional cost and this can be a luring criterion for those who travel abroad frequently. However, a lot of people must be unaware of the fact that spending with credit cards overseas also involves foreign currency exchange charges. 

Using a credit card overseas involves currency exchange and it is converted into Indian rupees. The credit card issuer charges a forex currency mark-up as a fee for the transaction which is almost 3 percent of the transaction value or higher. 

Enhanced features

These include insurance covers of various types and other features such as concierge services.

A lot of credit cards come with insurance benefits that attract customers and the cover includes travel or health or overseas hospitalization or lost card and so on. Other cards offer concierge services that can be used to book holidays, send special gifts or make dinner reservations in a new city. 

Despite these lucrative offers, it is important to remember to always make timely payments of credit cards, failing which customers will face additional charges and interest costs that can be huge.