In a world going cashless, plastic money, when used judiciously and responsibly, can be of great help. The same goes with a credit card that has made shopping convenient and exciting. In addition to allowing you to make purchases now and paying later, it also boosts your purchasing power, offering you a chance to make the most of exciting rewards and benefits.
Read on to know the 5 reasons to apply for credit card and make an informed decision.
Helps in building a credit history
Having a good credit score helps you avail credit in times of need. This allows you to achieve financial goals on time. So, if you want to improve or build your credit score, your best move would be to use a credit card responsibly. This is because the issuer of your credit card reports your payment activity to various credit bureaus. Therefore, by making timely repayments in full, you not only avoid any interest payments, but also build your credit score by positioning yourself as a responsible user of credit. This gives you the bargaining power to negotiate a favourable interest rates on loans and keep your insurance premium low. The easiest way to manage your credit score using a credit card is by making purchases you can pay off in time and not using up your full credit limit.
Gives money-saving offers and rewards
Credit cards give you various reward points, discounts or cashback every time you use them. These transactions may be related to dining, hotel bookings, movie ticket bookings, fuel purchases, flight bookings and more. Each time you earn reward points they get accumulated in your account. On reaching a certain threshold, you can redeem these points to shop for your chosen items and gift cards from the issuer's online rewards catalogue. What's more, when you avail a credit card as per your needs, you can enjoy an increased number of reward points. For example, if you are a regular traveller, availing a travel credit card will earn you reward points, airplane miles, lounge access, and more. In addition, every credit card offers a significant amount of welcome points, which can give you benefits right from the start.
Helps you to leverage your finances
Credit cards have various features that make it an effective tool to leverage your finances. Not only do they allow you to purchase on credit, but they also offers funds in case of emergencies and cash crunches. Some credit cards like a Bajaj Finserv RBL Bank SuperCard allow you to convert your credit card cash limit into an emergency loan to help you stay on top of your finances. What's more, you can enjoy an interest-free period for up to 90 days beyond which you only have to pay a nominal interest amount.
Makes purchases convenient
By using a credit card, you can make your purchases more convenient. Firstly, you don't have to carry cash and worry about losing it. Next, you can purchase now and make the payment at a later date so you don't have to compromise on the prices, quality or quantity of your desired items on your wish list. Additionally, with the grace period, you can enjoy enough breathing space to make convenient payments and manage your finances efficiently. Finally, by repaying your credit card bills in time and in full, you can free up your credit limit and make purchases to your heart's content. All in all, a credit card makes purchasing delightful.
Comes in various types to suit your needs
Credit cards come in various types to suit your myriad needs such as fuel cards, travel cards, and business cards. Issuers design these cards after considering various factors such as your income, spending nature, and rewards and offers. So, you can choose the one that gives you maximum benefits relating to your use, and save big. For example, with a fuel credit card, you can get fuel surcharge waivers and enjoy higher rewards every time you refuel at a petrol pump. Additionally, you can sign up for a credit card that offers multiple benefits to travellers, those who drive extensively, dine out often and shop online and offline.
When you are looking to apply for a credit card, consider power-packed credit cards that serve more than just its basic purpose such as a Bajaj Finserv RBL Bank SuperCard. This is an all-purpose card that not only acts like a credit card but also as an ATM card, loan card, and an EMI card. With only minimal charges, the SuperCard offers amazing features such as conversion of your purchases into 3 easy EMIs, conversion of the credit card cash limit into a no-interest personal loan for up to 90 days, and no-interest cash withdrawal for up to 30 days. The SuperCard also gives you rewards when you spend internationally, gives you free airport lounge access, free tickets on movie tickets and more.
How to apply for Bajaj Finserv Credit Card
You can apply for the SuperCard online and offline. To apply offline, visit the nearest Bajaj Finserv branch and speak to a representative. To apply for it online, check the credit card eligibility criteria and work on shortcomings, if any. Gather all the documents required to apply and fill out the form.
Before you apply for a credit card with Bajaj Finserv, check your pre-approved offer to enjoy instant approval and start cashing in on the benefits right away! Once your credit card is approved, you can enjoy discounts, cashbacks, and reward points that help you to save over Rs.55,000 annually. So, get started now!