Know Your Credit Score:
Understanding your credit score is crucial before applying for a credit card, with a good score being above 750.
Be aware of the annual fee associated with the credit card you choose, as it can vary and affect the overall value.
The credit limit is the maximum amount you can borrow on your card, and it should align with your financial needs and discipline.
Compare interest rates of different credit cards to ensure they fit your budget and financial goals.
Consider the rewards program offered by the card, whether it's cashback, points, or miles, and make sure it aligns with your lifestyle.
Look for additional perks like travel insurance, airport lounge access, and cashback on fuel purchases that can enhance the card's value.
Start with a Low Credit Limit:
If you're a first-time user, begin with a low credit limit and gradually increase it to avoid overspending.
If you don't have a credit score, start building it by taking small loans or opening a fixed deposit account.
Check the interest-free period offered by the card issuer, as it determines how long you have to repay without incurring interest charges.
Budget and Needs:
Consider your spending habits, lifestyle, and financial goals to choose a credit card that suits your specific needs and budget.