How to do A Credit Card Comparison: Know Step-by-step Process Here

credit card comprision

Buying a credit card is a very time-taking as well as a confusing process. Yes, as these days, plenty of credit cards are there in the market, it is quite a hassle to choose the best one. Then what is the solution here? Which is that right way to select an ideal card? Well, have you heard about credit card comparison? If not, my friend this is the right time that you should know about the same.

credit card comprision

I know you must be wondering why so. Let me tell you, with plenty of different types of cards being available out there, one of the best ways to select the best card is by comparing them.

Yes, you read that right! The comparison is the key here that eases your burden of finding an ideal card. However, now that you know about the comparison, here arises the biggest question, i.e. from where to start? How to do the comparison? Don’t worry, we are here to help.

Just read this article below to get the answers of all your queries, which will help you in selecting a masterpiece. So, without wasting any time further, let’s get started…

Before you start doing the comparison, it is important to know which credit cards online to compare. Ask yourself, which type of card you require? Knowing your needs and lifestyle requirements is important here as then it would be easier for you to decide which type of card you need.

  • Ask yourself, is it a travel card that you need the most or are you a shopaholic because in that case, you need a shopping card. For your kind information, let me tell you that there are a wide variety of cards available out there such as travel, shopping, dining, fuel, rewards, etc.
  • So, the process of selecting the best card would be easier if you know your actual requirement or needs. What you like to do the most? Decide your priorities and then go for a card.
  • Now that you know your needs, start your search of finding the best card by comparing. Suppose, you want to buy a travel card, start comparing different types of travel cards available in the market.
  • But while comparing, make sure you compare them on various parameters or key factors that differentiate one card from another. Compare them on parameters such as rewards, cashback, fee & charges, privileges, features, etc.
  • However, most of the people go by looks and appearance of the card, but they forget that it is the features and privileges that make a card stand out. One should always compare a card by considering its fee & charges first and then compare its features and benefits.

Let’s just understand this thing via an example: SimplySAVE SBI Card and ICICI Instant Platinum Credit Card, both the cards are easily available to buy. Just imagine if a person wants to compare between both the cards, how he/she should compare it.

First looking at the fees & charges, SimplySAVE comes with an annual and renewal fee of ₹499 each. Whereas, ICICI Instant Platinum Card comes with zero annual and renewal fee respectively. But hang on! It doesn’t mean that the latter card is losing the battle here. The fee is not only the deciding factor, it could be a reason, but not the prime reason.

So, try to focus on other key essentials as well such as rewards, cashbacks and list of other lifestyle privileges. If we look at the other privileges of SimplySAVE, the card offers:

  • 2000 bonus reward points on a spend of ₹2,000 in first 60 days.
  • Avail 10x reward points per ₹100 spent on dining, movies, grocery and departmental stores.
  • On spending ₹90,000 or above, get annual fee reversal.
  • Enjoy 1% fuel surcharge waiver for transactions between ₹500-₹3,000 across all petrol pumps.

Now, let’s glance at the privileges offered by ICICI Instant Platinum Card in the article below:

  • Earn 2 payback points on every ₹100 spent on all purchases excluding fuel.
  • Get 15% savings on dining, at over 800 restaurants via culinary treat program.
  • Avail discount of ₹100 on up to 2 movie tickets in a month.
  • Redeem rewards for cash

So, after thoroughly reading all the features and privileges of both the cards, it would be easier for you to do credit card comparison of all the other cards as well. Well, we have mentioned the above cards, just for the reference purpose so that you can have a better understanding.

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