5 Things to Look for When Signing-Up for Your First Credit Card

Using a Credit Card may be unnerving at first. The unpopular perception of high-interest rates may cause some apprehension for first-time users, but understanding the reality of affairs is crucial. Credit Cards can offer you innumerable benefits. However, to enjoy all of these benefits, it is important for you to pick the right Credit Card. It is essential for the features of the Credit Card to align seamlessly with your lifestyle needs.

Here are some features to look for in a Credit Card:

  • Rewards on regular spending: Being able to earn rewards on your everyday spending may sound like a dream, but the right Credit Card can turn this into a reality. Picking a Credit Card that offers rewards on purchases made from grocery stores, restaurants, taxi services, entertainment services, etc., can help you earn on your expenses. Some Credit Cards like the HDFC Bank Freedom Credit Card can offer you CashPoints and rewards every time you swipe your card. Here are some features of this Credit Card:
    • 10X CashPoints on groceries purchased at BigBasket
    • 10X CashPoints on food orders made on Swiggy
    • 10X CashPoints on entertainment bookings through BookMyShow
    • 10X CashPoints on ride bookings with Uber
    • 10X CashPoints on booking a stay at OYO 
    • 1 CashPoint for every other Rs. 150 spent (excluding fuel and wallet spends)

  • Reputed and reliable bank: With so many Credit Card companies and banks offering Credit Cards, it can be hard to pick the right one. But it is vital to choose a trustworthy bank to enjoy the best services. A reliable bank will ensure that you get affordable interest rates, great customer service, and features that align with your needs. HDFC Bank is one of the most trusted banks in India. Opting for an HDFC Bank Credit Card can offer you peace of mind and easy financial solutions. 

  • Easy and reasonable EMI options: EMIs or equated monthly installments refer to when you pay back the borrowed money in smaller, regular payments over a lump sum one. Credit Cards offer EMIs to allow you to pay back the borrowed funds at your preferred pace, but they also charge an interest on it. Therefore, before you select a card, make sure to check what EMI option the bank offers. For instance, the HDFC Bank Freedom Credit Card offers the option to convert at an attractive interest rate. This way, you do not waste your money on hefty interest charges. The card also offers 5X CashPoints on EMI spends on select merchant locations.

  • Easy to manage: Managing your finances and keeping track of your spending is crucial. And when used correctly, a Credit Card makes this more than possible; it makes it relatively easy. This is because you can get a detailed Credit Card bill which shows you how much you have spent and where. By tracking these spends, you can get an idea of where most of your money is going. You can even put a limit on your Credit Card to stop yourself from spending over a specific amount. HDFC Bank lets you access all this information right from the app, making it super simple to access essential information at your fingertips.

  • Fuel surcharge waiver: With the astronomical inflation on fuel, covering the expenses of your daily commutes is becoming more and more difficult. Getting a Credit Card that offers a fuel surcharge waiver can help you lower the cost a bit. The HDFC Bank Freedom Credit Card offers a 1% fuel surcharge across all fuel stations in India

To sum it up

Credit Cards simplify your finances, offer high liquidity, lets you pay back the borrowed funds at a comfortable pace, and above all, provide you with great rewards & discounts to enhance your savings. However, make sure that you get the perfect companion for your needs, so you can enjoy all of these benefits. The HDFC Bank Freedom Credit Card offers wonderful features and rewards. Go check it out and get one soon!

New Credit Card users can apply for Credit Card here. Existing bank users who want to apply for a Credit Card, can apply here.

Looking for a Credit Card, on your first job? Click here to read more on how you can get the best Credit Card!

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank limited. Credit Card approvals is subject to documentation and verification as per Banks requirement.