5 Parameters to help you choose the right Credit Card for your needs! <Meta> Find out how your spending habits and plans can help you identify the right credit card for you.
People opt for a credit card in order to have some extra buying capacity available whenever required. But this decision and your spendings with it can make or break your credit profile. The payment landscape in India was largely dependent on the limit of a debit card for a very long time. However, the situation has evolved over a period of time where more and more millennials are relying on credit cards to make big and small purchases. One thing that every credit card holder must bear in mind is that they need to be extremely disciplined with their credit card expenses. In simple words, they need to be aware of the fact that this will be an additional expense every month apart from other expenses that they usually pay for by a debit card. A rising credit card is never good for your credit score and your overall credit profile as reflected in your credit report. Every negative entry on it can hamper your loan application evaluation process drastically. Related Read:5 Major Ways Credit Cards Affect Your Credit Score Basically, the most important quality of a responsible credit card holder is discipline. Now, let’s take a look at the types of credit cards that an individual can avail in order to enjoy that extra buying cushion! -
Basic Credit Cards: Best for new cardholders! They offer a minimum credit limit based on the income of the applicant.
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Secured Credit Cards: If you are often left asking yourself “why is my credit score still low”, then using secured credit cards is a great way to turn the
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