7 Steps to Choose and Apply for the Best Credit Card

A credit card has become an essential in your wallet, and with good reason. This financial tool helps you bridge financial gaps during times of low liquidity and its many features offer a way to save while you spend. Apart from not needing to carry cash and making your transactions secure, a credit card has much that you can gain from.

However, in order to make the most of this instrument, it is essential you make prudent decisions and select the ideal credit cards for your needs. While you may consider choosing from a list of the best credit cards that you can see online, find a card that caters to your unique spending patterns. To navigate through a sea of choices, and understand how to apply for a credit card, follow this easy 4-step guide.

Analyse your spending pattern and check credit card offers

Before applying for credit in any form, it is essential to know exactly what you need and why. Start by analysing your spending patterns to make an informed choice as there are many types of credit cards in the market. These cater to different purchase categories by offering special discounts or offers.

Credit Card

For example, if you’re planning on using your credit cards for the sole purpose of refuelling your vehicles, the best option for you is an Auto/Fuel credit card. This card specifically offers a waiver on the fuel surcharge and this can amount to quite a bit of saving.

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The next thing to do is to check the reward points offered by the issuer so that you can earn perks with every spend and see who the partner retailers are. For instance, if you travel often or dine out often, check your issuer’s credit card offers for that category to see if you can access special deals and discounts.

In addition, see how you can redeem rewards in terms of lifestyle goods or air miles to choose the right card that offers benefits that you can put to good use. Lastly, check the special features of your credit cards, such as interest-free cash withdrawal or insurance, and the payment options to ensure you can make quick payments on the go for maximum convenience.

Look up your preferred issuer’s eligibility criteria

Before you apply for a credit card of your choice based on the criteria above, it is imperative that you know of the issuer’s eligibility criteria. As this is a form of credit borrowing, an issuer is going to be thorough with your application and any factors that deem you ineligible is going to result in a rejection. A rejection will reflect on your credit history and decrease your credit score. This is why you must ensure that you meet all the criteria before you apply.

Gather the required documents before you apply for a credit card

When applying for a credit card, you must ensure to submit accurate and up-to-date documentation. Credit card issuers are extremely thorough with their verification process and any mismatches are sure to reflect poorly on your credit card application.

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Apply via a pre-approved offer for customised deals

The simplest way to avail of credit cards is to check your pre-approved offer online. These offers give you valuable insight into whether or not you’re eligible and if so, for what kind of credit limit or card variant. Additionally, availing of a pre-approved offer is a lot more straightforward and easy and depending on your financial profile, you may even gain access to customised offers.

Opt for an issue that gives you the most benefits as this adds value to your purchases and allows you to get the most out of your credit card. Right from the welcome gift of up to 20,000 reward points, you benefit from other money-saving offers such as cashback and discounts on travel, leisure and entertainment spends. Additionally, redeeming your reward points on the SuperCard can save you over Rs.55,000 annually!

Adhering to this guide will surely help you make the best credit cards decision and smoothen out the credit card application process. Apply today and unleash the power of the SuperCard to get the most out of your finances.

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