Credit card: There is a better chance of taking reward points when you make a purchase through a credit card.
The use of credit cards has been seen a lot in recent times, including reward points, allowances and good bonuses. Whenever you are applying for a credit card first, applicants should not apply for the same in every bank.
Know some things before applying for the first time
Annual fee: Most credit cards have an annual fee. While some cards are free for lifetime. If users make more purchases than the card, many types of fees are waived, including annual fees. Usually the rewards they earn by spending regularly should be more than the card’s fee.
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Other fees: Withdrawing cash from credit card charges a bit more. In addition to high-interest rates, fines are also imposed for late payment of credit card bills, exceeding credit limits or making payments in foreign currency. It is essential that borrowers understand what these charges are so that they conduct transactions smartly.
Credit limit : The credit limit is the maximum amount that borrowers can spend per month using their card. Users should not spend more than 30-40 percent of their credit limit. If applying for a credit card for the first time, if there is already a bank fixed deposit for a larger credit limit, then it will benefit.
Rewards: Credit cards come with different types of rewards . This means that users should check their lifestyle once before getting the first card.
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