How to Get a Credit Card with the Best Rewards and Benefits

Are you looking at saving more while enjoying your shopping experience, but don’t know how to get a credit card with great offers? A rewards credit card could be your answer, as it offers convenience and a chance to earn points or cashback on every penny you spend. 

To choose the right credit card that fits your needs, explore as many options as possible before selecting one. Read on to learn the steps for choosing a card that will work for you. 

Understanding Your Financial Behaviour 

When choosing a card, analyse your spending habits and see where your money goes each month. This is key to selecting a card that aligns with your lifestyle.

Evaluate Your Spending Categories

Tracking your expenses is important, and for this, use apps or bank statements. Common categories of daily expenditure include:

• Groceries

• Medicine

• Utility Bills 

• Rent

• Travel

• Dining

• Fuel

• Online Shopping

Make a chart of your spending for the last three months and put your expenses into categories. This will reveal your spending pattern and also give you a better insight into which card to opt for.

Identify Your Preferred Rewards

Once you know your spending categories, you can understand what type of credit card would help you manage your finances better. Choose a free credit card that offers the kinds of rewards you can use. For example:

• If you travel frequently, consider a travel credit card
• If you shop often, opt for a shopping credit card
• If you dine out or order food regularly, choose a dining credit card
• If you want to maximise savings, look for a cashback credit card

Researching Credit Card Options

You must explore the variety of cards available in the market and learn how to get a credit card based on your preferences. There are many credit cards, so do your research, review them and select the one best suited for you.

Compare Different Credit Cards

Several major banks offer credit cards, including HDFC Bank, SBI, Federal Bank, ICICI Bank and SBM Bank. Be sure to read customer reviews and consider the quality of customer service.  These factors play a big role in your overall experience.

Review the Rewards Program

An important step is to understand how rewards programs work and see how you can make the most of them: 

• Check how points convert into rupees to understand their value
• Explore available redemption options to maximise rewards
• Compare reward conditions (such as minimum spending needed) with your spending habits to ensure you can get the benefit
• Check which card offers more reward points for the categories you spend most on, such as dining or travel

Assess Fees and Charges

Be mindful of hidden costs when choosing a credit card. The fees may include: 

• Annual Fees 

• Joining Fees

• Late Payment Fees 

• Over-limit or Cash Advance Fees 

To fully understand the true cost of owning the card, consider all potential fees when calculating your total expenses.

Completing the Application Process

For a successful application, you must meet the eligibility criteria. The general criteria include:

Income and Credit Score Requirements

CIBIL score is very important to prove your creditworthiness. Check your credit score before applying to understand what your chances of approval are. At the same time, different cards require varying minimum income levels, so choose a card that aligns with your financial situation.  

Submitting Necessary Documents

You need to furnish the following documents to apply for a credit card:

• Identity Proof: PAN card and Aadhar card 

• Address Proof: Ration card, utility bills, or rent agreement

• Proof of Income: Salary slips, bank statements, or income tax returns 

Filling up the Application Form Correctly

Double-check all details before submitting to avoid any mistakes or inaccurate information, as this can negatively impact your application.

Maximise Rewards and Use Your Card Responsibly

To get the most out of your card, you need to be smart while using it. There are various rewards and discount opportunities that you can miss if you do not keep an eye on usage. Take a look:

Utilise Bonus Offers and Promotions

Before and after you have applied for the card, monitor the welcome bonuses and milestone rewards, which can add a lot of value. Also, stay on the lookout for limited-time offers and current promotions to maximise your savings. 

Pay Bills on Time and in Full

Prioritise paying your credit card bills on time as it offers several benefits:

• Timely payments help improve your credit score, which is essential for your financial journey

• Paying in full and on time helps avoid late fees and high interest rates 

Avoid Overspending and Debt Accumulation

Over-spending can lead to a high credit utilisation ratio, which can be bad for your overall credit history. So, try not to buy things you don't need. Instead, create a budget and stick to it to avoid impulse purchases that may lead to falling into a debt trap.

Stay Updated on Credit Card Changes

Credit card companies are regularly evaluating their terms and introducing new deals based on the latest trends. Therefore, it’s important to stay informed about these changes. When applying for a card, make sure that you:

Review Changes in Rewards Programs

Rewards programs are frequently updated, so be sure to regularly review the terms and conditions of your card.

Check out New Credit Cards

Consider reassessing your credit card needs periodically. You can use more than one card, so stay on the lookout for new cards and features. Evaluate whether a newer card offers better benefits.

Finding the best rewards card in India needs some research. Choose a card which allows you to enjoy flexibility, without having to pay the annual charges. In your search, consider the One Credit Card, which is a lifetime-free credit card.

The best feature of this card is that it offers 5X reward points on your top two spending categories every month. Moreover, the card comes with a robust app, which helps you find the best offers around you with its GPS tracker.

With the OneCard App, you can easily stay within your budget and understand when you are about to cross your monthly limit. It also has many other features that will help you use credit confidently and responsibly. Download the app and start your journey with this stylish black metal credit card today!