One key aspect that you should keep in mind while looking for a credit card is to analyse your spending habits carefully. Using a credit card that suits your lifestyle can bring about a host of benefits that are tailored to your requirements.

Here’s how you can find an ideal credit card for your specific needs:

1. Be clear about your financial goals

The first step is to determine your financial goals. This will help in understanding the type of credit card that you should opt for. There are various credit cards catering to various needs; travel-focused rewards and benefits, such as air miles and airport lounge access for frequent flyers, and fuel credit cards for those who spend a lot on road travel. So, the question you should be asking yourself is whether you are more focused on getting discounts on purchases you make most in order to maximise your credit card’s benefits.

2. Know the interest rate offered

This is one of the most important factors to consider while applying for a credit card. While there are many credit card options to choose from, each bank may offer varying interest rates. While these rates might seem similar, do note that even a slight difference in the credit card interest rate can make a significant difference to your overall interest cost. So, make sure to pick a credit card that offers the most favourable interest rate for better management of your credit dues.

3. Consider the annual fee charges

Credit cards often include an annual fee which could differ depending on the issuer that you choose. This fee would depend on the credit card’s bonuses and spending limits, so make sure that these benefits are worth more than the annual fee that is levied.

You also have lifetime-free alternatives to avoid this fee entirely. The IDFC FIRST Select Credit Card does not charge any joining or annual fees. With domestic airport lounge access, low forex markup fees, and round-the-year offers, it’s a good premium credit card to consider.

4. Understand the reward program

Most credit cards feature various rewards and cashback offers to entice customers. These rewards and discounts are a great way to save money on various purchases. Before you choose a particular credit card, make sure to pick one that offers rewards that are useful to you.

For instance, you can apply for the IDFC FIRST Select Credit Card which is ideal if you are looking to earn rewards through everyday card purchases. This credit card offers up to 10x rewards on incremental spending of Rs 25,000 or more and 6x rewards on spending below this amount. With the FIRST Select Credit Card, you can enjoy low interest rates, insurance coverage, as well as attractive shopping discounts.

5. Inquire about any additional perks

A good credit card would also offer a host of additional benefits that cardholders can benefit from. You should keep an eye out on credit cards that offer travel insurance coverage, complimentary lounge access, a low forex markup fee, complimentary lost card liability, etc.

Wrapping up

So, make a well-informed decision and choose your credit card after carefully analysing all the perks offered. You can also look for a credit card that provides personalised benefits that even include frequent flyer points and unlimited reward points.

IDFC FIRST Bank offers various types of credit cards that you can choose from based on your lifestyle and shopping habits. You can choose from regular credit cards, premium credit cards, super premium credit cards, travel credit cards, cashback and reward credit cards, as well as co-branded credit cards. Head to the IDFC FIRST Bank website to learn more about these cards and the benefits they offer!