Credit card usage increased by 30% according to statistics as per August 2019. It reflects that more than ever, individuals are making transactions with credit cards. A credit card is an instant payment tool that is more convenient to carry than liquid money. They work as a type of personal loan that one can pay back at the start of every month. Consequently, financial institutions offer different types of credit cards to suit the distinct spending habits of individuals.
One should opt for a credit card that complements his/her lifestyle. For instance, travel lovers can go for credit cards that offer reward points on travel-related expenses such as plane tickets, hotel bookings, etc.
Even so, they should compare between different types of credit cards before deciding on one. He or she should check if the credit card for travel offers the following features.
Travel enthusiasts should go for travel credit cards that offer reward points on travel-related expenses such as hotel booking, international purchases, flight, or railway ticket booking. If you are someone who loves to go on road trips with your vehicle, you can also consider credit cards that offer a fuel surcharge waiver when you refuel across any pumps.
One can even make down payments with the reward points they have collected on transactions with their credit card.
In consequence, one should opt for a credit card from a financial institution or NBFC, which has an affordable interest rate or a suitable repayment option. Some credit cards like the Bajaj Finserv RBL Bank SuperCard allow you to withdraw cash from ATM charging interest for up to 50 days.
Subsequently, one should know how to use their credit card properly to utilize the benefits properly. You can adopt some necessary steps which include the following –
Consequently, a travel enthusiast should go through different types of credit cards to choose the right credit card for themselves that best compliments their lifestyle. They should note that it is essential to use their credit card wisely not only to avoid credit card debt but also to have a favorable impact on their credit score.
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