If you have decided to apply for a credit card, you have probably done so not only because it will unlock a world of credit, but also because of all the amazing benefits that one stands to gain by having a credit card. 

These benefits include discounts and special offers, reward points on every purchase that can be used for shopping, cashback, and freebies. Some cards will go the extra mile and offer you benefits over and above these.


 

How to compare credit cards

Before you apply for a credit card, you should ideally compare the card with other credit cards. Here are some parameters that you can use when comparing cards.

  1. Rewards - Check the kind of rewards that will be extended to you, should you become a member for a given card. Rewards are usually categorized as regular rewards, which are earned on every purchase. Milestone rewards are points earned on reaching certain spending amounts. For example, the Bajaj Finserv RBL Bank SuperCard, which is one of the best credit cards available, offers very competitive rewards. Depending on which variant of the card you pick, you can even get 1 reward point for every Rs. 100 spent. In terms of milestone rewards, members stand to gain  10,000 reward points when their annual purchases cross Rs. 150,000.
  2. What might you gain as a welcome gift - Everyone likes it when you get on a flight and the cabin crew welcomes you with a nicely scented fresh towel to refresh yourself. The same sentiment comes into play when your credit card company offers you some sort of welcome benefit. Bajaj Finserv RBL Bank SuperCard holders stand to get 20,000 points as a welcome gift. Also, they get an Rs. 500 cashback upon spending Rs. 2000 within the first month of their membership.
  3. Fee waiver options - Forget about comparing fees and charges. Instead, identify that you can have your fee waived if you cross a certain milestone. For some variants of the Bajaj Finserv RBL Bank SuperCard, like the Bajaj Finserv RBL Bank Platinum Plus FYF Card, one can not only get their first year’s fee waived but can also seek subsequent waivers when their spending crosses Rs. 50,000 in the prior year. We can hear you saying ‘Okay I’m in; how can I get a credit card?’ But hold up, you need to learn how to choose the best one first.
  4. Cash withdrawal - A lot of credit cards today offer the facility of ATM cash withdrawal with no interest for a certain period. Look for a card that doubles up as an ATM card. The credit card company should ideally give you at least 50 days to pay up without levying interest.
  5. Cash advance - This is another increasingly common convenience. Check that it will be extended to you before applying for your credit card. This feature allows members to take a loan to the extent of their credit limit. The cardholder has 90 days to pay back the loan.
  6. Discounts on regular spending - Your credit card must offer you useful ways of cutting costs monthly like for instance a fuel surcharge waiver or discounts and cashback on groceries.
  7. Freebies - Look into icing-on-the-cake type benefits that come bundled in, such as movie tickets, lounge access, and so on.

 

As promised, we are going to now address your question from earlier: How can I apply for a credit card?

The process is fairly straightforward. It only takes a few minutes to complete your application process, and once you receive your card, instant activation is the name of the game.

Step 1 -Visit their website and feed your mobile number into the window in the box provided.

Step 2 - Answer the questions asked by the representative who calls you. This is a pre-approval process wherein your creditworthiness - or your ability to settle your debts -- is evaluated.

Step 3 - Upon getting a positive pre-approval, all you need to do is upload a government photo ID, address proof, and a scan of a passport-size photograph -- and perhaps salary slips -- in order to get your application process underway.
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