Bangalore: With the approaching festive season, people have already started shopping for themselves and for their relatives. Most of the times, they prefer to pay by credit cards as it is fast and less clumsy than carrying large sums of money with them. The business of credit card companies has also boomed as more and more people apply for cards during or before festivals. But have you ever wondered that you may have got a better card than the one you are carrying now or applied for recently?

Read on to know the 6 ways to check the credibility of a credit card and to go for the best option, as reported by RupeeTimes.com –

Interest rates

Never ignore interest rate! This is one of the most important points that a credit card holder should keep in mind. There are three types of revolving rates of interest. The most common of all is ‘regular interest rate’ that is charged on regular purchases made using the credit card. To lure customers, card issuers often offer zero percent introductory interest rates for a particular period like 6 months. The regular rates return once these 6 months are over. A person, who does not pay interest on time, should be most concerned with this regular interest rate.

A card that offers low regular annual percentage rate is always the best option to go for. People who pay their credit card dues before the due date need not worry about interest rate. However, a card with lower interest rate is always desirable.

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