Credit Cards

The origin of the Credit card industry can be traced back to as far as 1914. The Credit cards have definitely come a long way since. For many the Credit card has become a necessity - Be it paying for your lunch in a restaurant or buying clothes at a designer outlet or getting your hands on the latest gadgets, nothing compares to credit card when it comes to convenience.

A Credit card today provides you with not only shopping convenience and safety, but also offers you privileges like discount coupons, invitations to events, bonus points, cash-back and even a free insurance.

If you have one, great- find the next one that can address your needs better and if you haven't then what are you waiting for!

But how do you select the right credit card With so many variants available and numerous offers and promotions, choosing a card can be very difficult. But mostly, it comes down to how you plan to use your Credit card.

For those who are new to the world of Credit card, let's find out some basics of a Credit card.
• When deciding on a card, always remember to get something that suits you best and fits well into your needs. The innovations are fast and coming and are never-ending.
• Do not rush. Look around and compare aspects like credit limit, grace period, renewal/annual fees, initial membership fee and other such services.
• Asking your friends about the cards they use might help too.

When you apply for a Credit card, the application you submit is carefully analyzed and the documents you provide are verified. Then a credit limit for your card is set for you, based on your net income, your credit history and other such factors.

Credit limit is the total amount that you may spend with your card while paying for services. Consider the lowest limit that would fit your needs, and not your lifestyle.

Most Credit cards offer a grace period of 15- 25 days before the interest is charged on the purchase. But some may not. So find one with the longest grace period. The longer, the better.
Most banks charge annual fee, renewal fee, membership fee etc. You should always ask for these to be waived off of. Also do read the terms and conditions carefully.

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