Get the right card for your lifestyle!

By BankBazaar | February 10, 2015

Debit cum Credit Card

A decade or two back, credit card meant just one type which offered you the option of ‘buy now and pay later’. But today things have been changed like anything and you find it confusing: from where to get, what to get and what not, just because there are many players and products to choose from. The credit card segment is buzzing with competition and there are a host of cards with different features. Customized credit cards being the mantra of today, getting the right card that best fits your lifestyle is very important.  So what’s the right card for you? Read this before you choose one:

Travel cards for on-the-go: Do you fly often for meeting new clients, taking part in conferences and others? If so we recommend a travel card in your wallet along with a regular card. Travel credit cards are specially designed to help avid travelers to get discounts in flying and at hotels. As you use the card for booking tickets and hotels rooms, you get handsome seasonal discounts and the amount spent is added to your air miles or points, which will fetch you more discounts at the next purchase. What’s more, you can also enjoy some free bonus time at airport lounges.

Shopping cards for the shopaholics: Shopping cards come in 2 types: Cash Back Cards and Reward Cards. 

For avid shoppers, reward cards are the best as they accumulate points for each buys which can be redeemed as a big discount for a buy later. Or even you can buy something for free with the accumulated points. Reward Cards are good if you are not that frequent shopper. It offers upfront cash back for each buys just like retailer discounts. These cards can be used for any buys as well as bill payments. Online shopping websites also collaborate with credit card companies offering exclusive cash back discounts for card holders on various products and services over and above the discounted price of online shopping.

Co-branded cards for brandholics: Are you the kind who prefers favourites? Whether it is shopping for grocery and households, travel and stay you prefer certain brands? If so, go for a co-branded card to fetch discounts from your favourites.

Co-branded credit cards are issued by banks in collaboration with various retail stores and brands like airlines, hotels etc offering dedicated discounts for their regular customers. If you are shopping for groceries or other everyday needs at a particular retail store or travelling frequently in the same airlines can get good deals if opting for a co-branded credit card.

Prepaid credit cards for safe and guilt free buys: In case you are an impulsive shopper or if you are likely to have heavy purchases, be it a business purchase, it is good to carry pre-paid cards instead of credit cards. It helps not only to go without carrying cash, but also if you prone to overshoot the credit card and end up shopping for way too much. Prepaid credit card works on the principle that the bank offers a credit card with a limit of 70 to 80% of funds already placed with them like fixed deposits. The credit limit is therefore offered as per the deposits with the bank allowing the individual to know the limits of using the card.

Fuel cards: For frequent travelers on own vehicle, saving every penny on the fuel is a big relief. So, next time when you pay for the fuel, make it with a fuel card or petro card, to accumulate points on fuel bys, just like the reward cards offer. Some fuel cards also offer upfront cash backs.

Specialty Credit Card:  Specialty credit cards are designed exclusively by the company for certain specific purposes. Cards like women centric credit cards, student credit cards and other lifestyle credit cards are customized for a specific set of users with discounts and deals to maximize benefits on your purchase. Instead of opting for a general purpose credit card, specialty credit cards offer a great way to use card and save money whole using the credit card.

So which credit card do you think will suit your lifestyle? Is there any card that you feel banks should include, which would be an ideal fit for your lifestyle? Tell us about it!

 

 

 

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Money Management Yahoo

About BankBazaar

Abhishek is responsible for BankBazaar.com’s Business Operations and Partner Management activities. Abhishek has a Master’s degree in Business Administration from S.P. Jain Institute of Management & Research and is a University rank holder in Engineering from Punjab Technical University. Prior to joining BankBazaar, Abhishek worked with the retail banking division of ICICI Bank and was handling diverse functions like Sales Operations, Customer Relationship Management and Cash Management, along with coordinating best practice projects like 5s,Six Sigma etc. Abhishek is also a green belt trained in 6-Sigma from KPMG and has a number of certifications from NSDL.

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