Through our new series “Knowledge Center” we will explain in detail about 5 most asked questions by customers about Top credit cards.

Why should I use credit card?

A credit card allows you to purchase or repay bills when you don’t have money in your savings account. Even if you don’t have currency or a debit card, you can swipe your credit card and manage your expenses.

Who is eligible for credit card?

Any salaried or self employed person who has a regular source of income can fulfill credit card eligibility.

What are the benefits of credit card?

Advantages of credit cards are;

In month end moments when salary hasn’t been credited and you need cash, a credit card can come to your rescue.

Improve credit history. When you use your credit card and repay the monthly bill on time, you can improve your credit score.

What are the disadvantages of credit card?

Disadvantages of credit cards are;

Nonstop spending. Just because your credit card allows you to purchase anything on credit, you might tend to overspend by swiping.

High interest fees. There is a high interest fee charged on credit cards. If you default on your bill payment, the interest rate can even go above 30%.

What are the best credit cards in India?

There are many types of credit cards in India. In order to find the best credit card in India, you must see if the card comes with no annual fees, less or zero renewal fees, cash backs, reward point structure and lastly how this card can benefit with your lifestyle.

To understand more about the best credit cards, visit Ruloans.com as here you can compare and choose the best cards from major Banks and NBFCs in India.