Credit cards are the most user-friendly option during a cash crunch. Considering the economy is still struggling to come out of the Pandemic woes, credit cards are your best option to regulate any cash flow issues that you might be facing.
IT makes little sense to liquidate one’s investment and savings for a brief period of cash and expenditure mismatch. Hence, credit cards come to the rescue. Generally, all cards have at least a month’s deferral on your billing cycle and thus ease your cash crunch crisis.
Having said that, it’s important to select the best option for your needs as the financial market has a wide variety to select from.
Below is a list of 5 important things that you must consider:
Annual Fees
Interest Rates
Certain preferred credit cards offer very competitive interest rates in case you need to withdraw cash or you wish to defer your bill payment. For instance – The RBL bank has a credit card that offers withdrawal of cash anywhere 24*7. RBL Bank also offers an innovative credit card that combines an instant loan along with the card.
Rewards and Offers
Financial Institutions such as banks have a wide variety of credit cards suited for every need. For example – RBL bank offers 43 credit card varieties ranging from rewards on movies, groceries, medicines, sports, apparel, lounge access, travel, fuel, etc.
Credit Limits
This would essentially mean that you can even make bulk, large purchases on your card without it being declined.
Customer Service
This is the most important and essential factor while choosing your credit card. A prompt and dedicated customer support team would greatly impact your experience.
A dependable, efficient, and effective client support team would mean that you can reach out to the bank or financial institution easily, without having to wait for eternity on the interactive voice response systems (IVRS).
Banks such as RBL are known for their quick and committed customer service ensuring that the customer experience is delightful and excellent.
In conclusion, you need not worry about being faced with a financial crisis or a cash crunch when credit cards have your back. A wide range of rewards would also ensure your spending earns you discounts and offers like never before. However, you must consider and evaluate a card on the above levels to truly have a rewarding experience.
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