Making cheque payments is very inconvenient for most people since they have to spend their time and money visiting the bank. So increasingly people are preferring to make payments using credit cards since they are safer to use compared to debit cards. There are a large number of banks issuing credit cards and most individuals interested in getting a credit card, would like to get information about the best credit card deals available. Though the best deal for a person depends to some extent on his or her spending pattern, some of the main considerations while comparing credit cards are discussed below.
Credit card usage
Some credit card users will use their credit card extensively for making payments, they pay for most of their monthly expenses using the credit card. In this case, it is important to check the reward points and other incentives offered by the issuer for spending more money. In other cases, some individuals especially salaried employees are using their credit cards, only because it is convenient, they do not have to carry cash. For these users, it is advisable to check the deals offered by merchants and services which the user will pay for using his credit card online and offline.
Reward points and fees
Individuals who are making more payments using their credit cards should check the reward points offered for the money they spend. Most of the credit cards are offering some reward points for every $100 spent, though the number of reward points will vary significantly. It should be also easy for the user to redeem the reward points. Some of the credit cards are charging an annual fee, and this is an expense for the users who do not use the credit card regularly. In a few cases, the annual fee may be waived for the first year or first three years or for regular users. Hence it is advisable to check the fees before applying for a credit card.
Shopping deals
Since credit cards are often used for making payments online and offline, to encourage users to make credit card payments, the bank issuing the credit card will often have deals with the merchant. Since the merchant will save some time, money in cash handling expenses if customers pay using the credit card, they will often offer discounts to the credit card users. More customers are likely to purchase the product if they are getting a discount for card payment. Since many credit card users own a vehicle, they often get substantial discounts for the purchase of fuel, like petrol or diesel using their credit card. Online shoppers can also pay in installments using their credit card if they cannot pay the entire amount at a time.
Travel and other services
Additionally, a large number of users, prefer to book tickets, hotel rooms, and other travel services using their credit card, since cancellation and getting a refund is easier. Businesses providing beauty, hair care, and other treatments are allowing their customers to pay using credit cards since carrying a large amount of cash is inconvenient and not safe.
