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7 Tips to Find the Best Company that Offers Instant Credit Card Online

A credit card is a financial institution (banks or NBFCs) issued card that allows the cardholder to borrow money from the institution on credit. Once users spend money from their credit card balance, they have to pay the sum with some additional interest back to the institution after a certain time period as laid out in terms of the card issued by the institution. With the increased penetration of online payments into our economy, most banks and other leading financial institutions are now offering credit cards to people according to their different policies.

Credit cards are useful for people as they can make purchases without worrying about their current savings and cash balance. They can then pay the amount back to the bank within the credit card's repayment cycle.

If you are looking to get a credit card online, there are certain factors that you need to consider before applying for one with a bank or an NBFC such as Bajaj Finserv. Below, we have discussed 7 tips for finding the best company that offers credit cards online.

  1. Fees and Charges - While many financial institutions offer credit cards, some charge a certain annual fee to the cardholder while others do not. Some institutions have a certain annual fee for the cardholder, but it can be waived off if the cardholder spends a minimum amount within the year on purchases. You have to compare these charges levied by each bank and NBFC and look for any other hidden charges that may surprise you later. 

  2. Interest Rates - Each financial institution offers different interest rates to its credit cardholders. You can easily enquire about the interest rates charged by each institution and then apply with a company that offers the lowest interest rate credit card.

  3. Easy EMI Conversion - This feature is quite helpful for cardholders as it allows them to convert their credit card purchases into monthly instalments (EMIs) that can be paid with ease rather than paying a huge lump sum amount. There are many companies that are offering easy EMI conversion options to their credit cardholders.

  4. Interest-free Cash Withdrawal - While credit cards are different from debit cards in the sense that credit cards cannot be used for cash withdrawals from ATMs, there are certain companies that are now offering this option to their users for almost little to no fee. You should check if the company you are applying with offers this facility or not, as it can come in handy during emergencies.

  5. Payment Options - Credit card repayments can be made via cheques, cash deposits at the bank, or online methods. Before applying for a credit card online, check whether your card issuer offers online payment modes or not.

  6. Reward Points - Credit card companies are known for offering rewards in the form of cashback, points, and other such ways for their cardholders. You can compare various online credit card issuing companies to find the best deal that you can get in terms of reward points.

  7. Offers on the Card - In addition, to reward points, almost all the companies provide offers on credit cards to the cardholders, such as free movie tickets or airport lounge access. These offers can come in quite handy if you are a person that likes to travel or go out often. Check with companies for such offers.

Final Thoughts

As we all know, almost all leading banks and financial institutions offer credit cards online to their customers. Many factors need to be considered before finalizing a bank or an institution to apply for a credit card. You should conduct due diligence before finalizing the card-issuing company for your credit card as it will help you choose from a large pool of options the best credit card and the lowest interest rate credit card. As per industry statistics, Bajaj Finserv is one of the best companies that offers credit cards online.

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