BANGALORE: When credit cards first made their appearance, the mechanism involved was quite basic with limited benefits, fees and interest rates. With more credit card companies joining the fray, competition now is very intense. The credit card issuers, to increase their business have started offering a wide array of credit cards to complement one’s financial status and lifestyle.

Sometimes we get driven by these lucrative offers and ignore to look at the basic features like annual fees, joining fees, interest rates and grace period. A credit card can look rewarding sometimes but once we start using it, the high annual charges might kill or neutralize all the benefits.

1. Citibank Cash Back Credit Card

The card is fully loaded with lots of rewards and a wide variety of reward redemption options. There is a maximum of 30 percent cash back. This offer is available at some selected outlets in India with cash advance fee of 2.5 percent per month. Minimum cash advance fee is 250. Cardholders always receive cash back benefits upon swiping the card at a particular outlet. Card issuer is VISA and there is a fuel transaction waiver.

The rate is 2.5 percent and offer is valid only in petrol pumps of Indian Oil and the issuing bank is Citibank. There are no joining and renewal fees. There is 0 percent fuel surcharge facility that is available only at Indian Oil outlets. Regular interest rate is 3.19 percent or 38.28 percent per annum.