What are all things should keep in mind before applying for new credit card?



I want to apply for a new credit card from my bank but I want to know what information and rules I should take care before applying it. What is the advantages and disadvantages? My bank is an Indian Bank so that I would thanks all If i get answers from Indian citizens and they are expert in banking 🙂

What are all things should keep in mind before applying for new credit card?
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2 Replies to “What are all things should keep in mind before applying for new credit card?”

  1. firstly,check whether it is a lifetime free card or you have to pay charges every year,if so,are they reasonable.Try to read all the terms and conditions in small print ,if you have the patience.Also check the credit limit.


  2. Applying for a credit card can be an exciting experience, but if one chooses the wrong card, credit can quickly become debt turning all the excitement into stress.
    Before you apply for a credit card, please ask the following questions to the bank/credit company or try to find the answers yourself by reading the documents/terms&conditions:

    1. Why am I applying for this card? Why do I need this card?
    2. What Kind of Rate and Credit Line Can I Get?
    3. When do They Reduce or Revoke Rewards?
    4. How Will I be Treated if I Fall Behind?
    Will you lose points or benefits? Will you be hit with late fees or a penalty rate? Ask what those penalties are or look online at the terms and conditions for the card.
    5. How do I know if this is the right card for me?
    The right card for you would depend upon your income, your purchase behaviour and how long you have been working. The bank may sometimes push you for a higher credit card, but you must refrain from falling into the trap as they attract higher charges and have higher limits on them.
    6. Is my card secure?
    Remeber, credit card can be used by anyone if it falls in their hands – ensure your card uses the latest chip technology for ultimate security at POS and OTP (one-time-password) for Online transactions.

    All the best!





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