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An Essential Checklist To Help You Choose A Credit Card


Credit cards are known to offer convenience, rewards and financial assistance, and these benefits make them a valuable product. To reap the most out of your credit card, choosing the right one is important.

Here’s a list of essentials to consider when opting for a credit card:

Credit limit:

The primary reason to have a credit card is borrowing credit and repaying it later. The amount that you can borrow is known as your credit limit. It is therefore essential to understand the credit limit available to you.

The credit limit depends on various factors such as:

  • Your credit history
  • Income
  • Type of credit card
  • Approved limit on other credit cards owned by you

Additional cardholders:

While applying for a credit card, you can check if it allows an additional cardholder. Here are the benefits of adding another individual to the card ownership:

  • You will be able to collect more rewards because of the extra spending
  • You could financially secure a loved one
  • You will find it an easier process as compared to opening a joint account, while still enjoying many of the same benefits

If the credit card offers you this option, all you have to do is provide the details of the second cardholder, including their name, date of birth, and contact details, along with your own details.

Credit card charges:

When you avail a credit card, you may have to pay certain credit card charges and fees such as:

  • Joining fees
  • Annual fees
  • Renewal fees
  • Cash advance fees
  • Card replacement fees

IDFC FIRST Bank provides lifetime free credit cards with zero joining, annual and renewal fees.

Credit card rewards points:

Another benefit to look forward to while availing a credit card is its reward points. Credit card reward points may come as:

  • Airline miles
  • Vouchers
  • Discounts

You can collect these rewards and redeem the points for:

  • Cashbacks
  • Air tickets
  • Monthly utility bill
  • Fuel

Interest rate:

Lastly, check the interest rate while availing your credit card. This plays a vital role, especially when you delay the outstanding payment beyond the credit period. Generally, the interest rate is 0.75%-3% per month, depending on the card you choose.

Along with the features mentioned above, most credit cards also offer:

  • Cash withdrawal facility
  • SMS alerts for your spending, offers, and discounts
  • Online accessibility to keep a check on your available balance

Credit cards come with ample benefits and spending flexibility and can also help you maintain a good credit score. Choose the right card by referring to the above checklist and enjoy maximum features and benefits.



The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.