Credit cards are notorious for their high interest rates, annual fees, and making people spend money on extravagant things. However, if you are smart, you won’t complain about them. In 2018 alone, I’ve saved more than ₹23,000 by taking advantage of my SBI Air India Platinum Card. I am not even including various perks that I got to enjoy because of my SBI credit card. A credit card has many advantages. It can save a good chunk of money throughout the year and pay its renewal fees as well.
If you understand your needs and liabilities, you can exploit credit card in your own favour rather than let your bank make money of you.
State Bank of India has credit cards for all individuals and corporate needs. Credit cards from SBI come with plethora of features and privileges like balance transfer at relatively lower rate of interest.
I’ve listed up 10 State Bank of India credit cards from various categories like Travel, Lifestyle, Shopping, Fuel etc that I personally find good value for money. You should choose one of the following credit cards as per your requirement. If any question, do comment at the end of this post. I’ll do my best to help you.
Remember, the goal of getting a credit card is to save money and enjoy its exclusive benefits rather than get into the debt.
Get E-gift Voucher worth ₹3,000 for one of these brands – Yatra.com, Shoppers Stop, Marks and Spencer, Pantaloons, Bata, and Hush Puppies.
- Earn 20 reward points per ₹100 on making Utility bills payments.
- Earn 15 reward points per ₹100 on shopping at Reliance Fresh, Reliance Trends, Reliance Footprint, Reliance Smart, Big Basket, and Sahakari Bhandar stores.
- Earn 10 reward points per ₹100 on paying bill for Groceries, Dining, Departmental stores, and Cinema.
- Love pizza? Card members can avail Pizza Hut e-Voucher worth ₹1,000 on spending ₹50,000 in a calendar quarter.
- Get renewal fee waived off on annual expenditure of ₹3 lakhs. The benefit extends to E-Gift Voucher worth ₹7,000 on annual expenditure of ₹5 lakhs.
- You and one companion get access to International Priority Pass Lounges (Abroad) 4 times every quarter and domestic VISA/MasterCard Lounges (India) 8 times every quarter.
Club Vistara Membership
- Cardholder gets Club Vistara Silver membership, Lounge Access voucher and one Upgrade voucher.
- The cards earns you 9 Club Vistara Points/₹100 spent on tickets purchased from Vistara.
- Your card gets you exclusive perks over 900 luxury hotels worldwide.
- Annual Fee (one-time): ₹ 2,999 (Welcome gift benefit worth ₹3,000)
- Renewal Fee (per annum): ₹2,999
Yatra SBI Card
Yatra.com vouchers worth ₹8,250.
- The card saves you ₹1,000 on all domestic flight ticket. (Min. trxn of ₹ 5,000)
- Save ₹4,000 on international flight ticket. (Min. trxn of ₹40,000)
- Get 20% off discount on domestic hotels. (Min. trxn – ₹3,000. Max. Discount – ₹2,000)
- Earn 6 reward points/₹100 spent on paying bill for Groceries, Dining, Departmental stores, and Cinema.
- Earn 1 reward points/₹100 spent on everything else.
Complimentary Lounge Access
- Access to high-quality MasterCard airport lounges.
- Enjoy stay at domestic airport lounge two times every calendar quarter.
Complimentary Air Accidental cover
- Card member gets Air Accident cover of ₹50 lacs on booking ticket via Yatra.com
Fuel Surcharge Waiver
- Get rid of paying 1% fuel surcharge at any petrol pump in India.
- Annual fee (one time): ₹499 + applicable taxes
- Renewal Fee (per annum): ₹499 + applicable taxes
- Get renewal fee waived off on annual expenditure of more than ₹90,000.
SBI Card ELITE
- Gift Card worth ₹5,000 from one of these brands: Yatra, Hush Puppies/Bata, Marks & Spencer, Pantaloons, and Shoppers Stop.
Free Movie Tickets
- Get movie tickets worth ₹6,000 every year.
- You can earn up to 50,000 bonus reward points every calendar year worth ₹12,500.
- You can also earn 10,000 bonus reward points every calendar year on annual expenditure of at least ₹3 lacs.
- Earn 5X Reward Points on Grocery, Departmental stores, and Dining purchases.
- The card gives 2 Reward Points/₹100 spent on anything else.
International Lounge Program
- Enjoy 6 Complimentary Global Airport Lounge Access (2 visits every quarter).
- Get Priority Pass Program complimentary membership.
- Complimentary access to thousands of airport lounges worldwide.
Domestic Lounge Program
- Complimentary access to domestic airport lounges, twice every quarter.
Club Vistara Membership
- The card entitles you to Club Vistara Silver membership.
- Earn 9 Club Vistara Points for every ₹100 spent on tickets purchased from Vistara.
- Exclusive concierge service.
- Enjoy discounts at luxury Spa’s and Lifestyle Stores.
Lowest Forex Markup
- The card offers lowest Foreign Currency Mark-up Charge of 1.99% on International usage.
- Earn 2 Reward Points per ₹100 spent on transactions outside India.
Trident Privilege Red Tier membership
- The cardholder gets Trident Privilege Red Tier membership.
- Annual Fee (one-time): ₹4,999 (Welcome gift worth ₹ 4,999)
- Renewal Fee (per annum): ₹4,999
SimplyCLICK SBI Card
- Welcome Amazon.in gift voucher worth ₹500.
- The card offers 10X Reward Points on online purchasing at – Amazon / Foodpanda / UrbanClap /Lenskart / BookMyShow / Cleartrip
- Card also offers 5X rewards for other online spends.
- Spend ₹1 lakh online in a year and get e-voucher (worth ₹2,000).
- Get freedom from paying 1% fuel surcharge on transaction between ₹500 – ₹3,000.
Freedom from Annual Fee
- Spend ₹1 lac in a year and get your annual fee (₹499) reversed.
- Annual Fee (one time): ₹499
- Renewal Fee (per annum): ₹499
SimplySAVE SBI Card
Earn While Spending via SBI Reward Points
- Earn 2,000 bonus Reward Points on spending ₹2,000 in first 60 days.
- Earn 10 Reward Points (RP) for every ₹100 spent on Movies, Departmental Stores, Dining, and Grocery purchases.
- Earn 1 Reward Point for every ₹100 spent on all other things. (4 RP = ₹1)
- Get freedom from paying 1% fuel surcharge on transaction between ₹ 500 – ₹3,000.
Freedom from Annual Fee
- Spend at least ₹1 lac in a year and get your annual fee (₹499) reversed.
- Annual Fee (one-time): ₹499
- Renewal Fee (per annum): ₹499
BPCL SBI Card
BPCL SBI Card is currently offering a sign-up bonus of 2000 Reward Points. That’s equivalent of ₹500 and can be redeemed at BPCL outlets, and Shop n Smile.
- The card earns 5X Reward Points per ₹100 spent on Movies, Dining, Groceries, Departmental stores, and Utility Bills payments.
- Also earn 1 Reward Point per ₹100 spent on everything else (except fuel).
- The card offers 13X Reward Points as you spend at any BPCL petrol pump. That’s the equivalent of 3.25% cash back.
- Get additional 1% Fuel surcharge waiver.
- Maximum surcharge waiver = ₹100 per month.
Fees and charges
- Annual Fee (one-time): ₹499
- Renewal Fee (per annum): ₹499
(Renewal Fee reversed if annual expenditure is at least ₹50,000)
IRCTC SBI Platinum Card
- IRCTC SBI Platinum Card is currently offering a sign-up bonus of 350 Reward Points if you spend ₹500 within 45 days getting of the card.
- Get additional ₹100 cashback on ATM cash withdrawal within 30 days of card issuance.
- Earn 10% cashback as Reward Points on tickets purchased from irctc.co.in for any AC class. (1 Reward Point = ₹1)
- The card earns 1 Reward Point per ₹125 spent on all other purchases except fuel.
- Enoy1.8% transaction charges waiver on train tickets booked via www.irctc.co.in
- Also enjoy discounts at airline tickets on IRCTC website.
- You no longer need to pay 1% fuel surcharge at any petrol pump across the country with your IRCTC SBI Platinum Card.
- Trx. amount should be between ₹500-₹3,000.
- Annual Fee (one-time): ₹500
- Renewal Fee (per annum): ₹300
Bank of Maharashtra – SBI Card
Earn 2,000 bonus Reward points after you use your new card to make ₹2,000 in purchases within first 2 months.
- The card gives you up to 10X Reward Points for each ₹100 of eligible purchases made at Grocery & Departmental stores.
- Earn 1 Reward point per ₹100 spent for all other purchases. (4 Reward points = ₹1)
- Annual fee (one time): ₹499
- Renewal fee (per annum): ₹499
(Renewal fee will be reversed if annual expenditure is more than ₹90,000)
Doctor’s SBI Card
Indian Medical Association
- Doctor’s SBI Card is the only credit card that is associated with Indian Medical Association (IMA).
Professional Indemnity Insurance
- The cardholder gets Professional Indemnity Insurance Coverage of ₹ 10 lacs.
- The cardholder is entitled to reimbursement in case of legal & defence expenses.
- Enjoy e-Gift Voucher from Yatra.com worth ₹1,500.
- Receive 5X Reward Points in specific categories such as Travel Bookings, Medical Supplies & International purchases.
- Earn 5X Reward Points on all purchases made on Doctors’ Day (1st July).
- Get 1 Reward Point for every ₹100 spent on all other purchases.
- Spend ₹5 lacs in a calendar year and get E-Gift Voucher worth ₹5,000 from Shoppers Stop/Bata/Yatra.com
- Renewal Fee reversed if first year annual expenditure is ₹2 lacs.
International Lounge Privileges
- Enjoy priority boarding privileges with Priority Pass Program worth $99.
- You get complimentary access to more than 1,000 airport lounges worldwide.
- As a cardholder, you’re entitled to 4 complimentary International Airport lounge visits each calendar year (twice per quarter).
Domestic Lounge Privileges
- The card offers you access to Domestic Airport Lounges (max. 2 visits per quarter and 8 visits in a calendar year).
- Spend b/w ₹500- ₹4,000 on fuel purchases at any petrol pump in India and get 1% fuel surcharge waived.
- Annual Fee (one-time): ₹1,499
- Renewal Fee (per annum): ₹1,499
Air India SBI Signature Card
- The current sign-up bonus is 20,000 reward points after new applicants pay joining fee.
- Card membership automatically entitles you to Air India Frequent Flyer program – Flying Returns membership.
- Earn 4 Reward Points per ₹100 spent on anything. You can earn up to 1 lakh points in a year.
- Redeem your Reward Points into Air India miles. *1 Reward point = 1 Air India Air mile*
- Get 5,000 Reward Points as anniversary bonus.
Earn every time you fly
- Earn up to 30 Reward points per ₹100 spent on tickets purchased for self from airindia.com/AirIndia app.
- Get 10 Reward Points on booking tickets for others.
Luxury Lounge Access at Domestic and International Airports
- As a cardholder, you’re entitled to over 600 International Airport lounge visits.
- Enjoy priority boarding privileges with Priority Pass Program which is worth $99.
- The card offers you access to Domestic Airport lounges with complimentary Visa Lounge Access Program.
- Annual Fee (one-time): Up to ₹4,999
- Renewal Fee (per annum): ₹ 4,999
SBI Credit Cards Benefits
• SBI credit cards have zero loss liability. This means that if your card ever gets lost or stolen, then you have no liability on any fraudulent transactions.
• The bank has worldwide presence so the card will work at every place.
• Cardholders can turn any costly purchases made into easy monthly instalments.
• Rewards: You can earn reward points on every purchase that you make with your SBI credit card. These reward points can be redeemed against special offers and offers.
• Exclusive Privileges: Additional perks like utility payments via cards, deals on travel, shopping discounts, cash advance facility and balance transfer on EMI are also offered.
How to get SBI Credit Card?
Since you are here, we believe that you have finally made your decision to get a new credit card. You need to keep a few things in mind to get your credit card application accepted. First of all, let’s figure out if you are eligible for an SBI credit card.
SBI Credit Card Eligibility
- Applicant should be an Indian
- Minimum age is 18 years
- Should have good credit score
SBI Credit Card Documentation
- 1 passport sized photograph.
- Address proof like passport, electricity bill, or Aadhaar card
- PAN card
- Last 90 days salary slips and ITR statement
Apply for SBI Credit Card Online
To apply for an SBI credit card, you need to visit official website page here – https://www.sbicard.com/en/eapply.page
You will be asked to fill in the following details:
Date of Birth
OTP (One Time Password will be sent to the applicant’s mobile number)
After filling the form, you don’t need to do anything. Bank will check your eligibility and other details. They will inform you within a couple of days whether your credit card application is accepted or rejected.
Applying for SBI credit card offline
One can apply for SBI credit card offline. All you have to do is to go to the nearest branch of SBI. The official will check your eligibility for the credit card and upon verification; you will be given an application form. You’ll have to fill the details and submit the application form along with required documents like your Identity proof, address proof, and income proof.
The bank representative will go through your form and verify details and documents you provided at the time of filling application. Once the representative is satisfied, you will get the credit card.
This is not the only offline option, the applicant can contact State Bank of India by calling customer care service at 39 02 02 02 (prefix your local STD code), or 1800 180 1290 (toll free). These helpline numbers work 24×7.
5 tips for choosing your first credit card
A credit card is a handy tool. It can be used worldwide, help you build your credit rating, cover cash flow shortages and be a valuable source of funds in an emergency.
It sounds good knowing all the benefits that can come with a credit card. However, it’s also important to be aware of the conditions attached to a card. Credit cards come with legal contracts. Hence, it is important that you understand terms and conditions when applying for a credit card.
Knowing the benefits, fees, charges and interest rates will help you choose the type of credit card that best suits your needs. Here are some tips to help you make the most of your credit card.
Find a card that suits your needs
Different types of credit cards have different benefits and may be better suited to different patterns of spending and repaying. Broadly, credit cards can be grouped into three categories:
Low fee: These cards can be suitable for those who are looking for convenience of a credit card with a low annual fee and who are confident that they would regularly pay off their balance in full. Low-fee cards attract higher interest rates than other types of cards.
Low rate: These may best suit those who carry a balance over from month to month and want to minimise the amount of interest they pay on purchases. Low-rate cards have a higher annual fee than rest of the cards.
Awards: These cards may be suitable for those who intend to pay off their balance in full each month and who want to make the most of their credit card spending by earning awards points. Awards cards attract higher interest rates and annual fees than other cards.
Explore features and learn about T&Cs
Please read your credit card application carefully to know about your card’s features and associated Terms and Conditions. The information mentioned in small prints may have big impacts on your fees, charges and usage conditions. While some T&Cs are similar on all cards, there are many others that may be particular to the ones you are applying for, so we recommend that you go through all of them.
If your card has multiple users, know about the liabilities shared by secondary users. Also, if you have applied for Add-on cards, understand the added responsibilities that come with them such as who will manage the cards, pay bills and debts, etc.
Know how to cancel your Credit Card
Knowing how to cancel your card is as important as knowing how to use it. When you decide to close a Credit Card, make sure all payments have been made and there are no pending dues. Avoid closing cards that still have outstanding balance to be cleared or those that make a significant amount of your credit history. Cancelling such cards impact your credit score.
Learn about cash advances
Credit Cards give you freedom of taking cash advances. But avail this service only at the time of emergency because cash advances are levied with charges, which you start paying from the day you have cashed out. There is no grace period on cash advances.
See how interest is calculated
Each credit card has different interest rates for different types of transactions, such as regular purchases, balance transfers and cash advances. The interest rate you’ll often see in advertising is the purchase interest rate, which is the rate you’re charged on purchases if you don’t pay your balance in full by the payment due date on your statement each month.
In case of unexpected expenses, it is better to talk to your credit card provider and explore different options that you can take advantage of, such as availing low interest credit options. This way you can save on the amount you repay.
Maximise the benefits
From complimentary international travel insurance to emergency assistance and extended warranty on purchases, there is a range of benefits that may come with a credit card. Different types of cards have different benefits. So choose a card only if it has the benefit you’re after. Remember, cards with lots of perks are likely to have higher annual fees and interest rates than other card types.
Know your monthly spending limits
You’ll want to avoid overspending and getting yourself into debt beyond your means at all costs. Before taking out a credit card, use budget planner to assess how much disposable income you have each month that could be used to repay a credit card. Online credit card repayment calculator can help you figure out how long it would take to pay back your balance, based on what you can afford to pay.
You can choose to repay anywhere between your minimum due payment or your full balance each month, but the more you pay off the less interest you will be charged.
SBI Credit Card Customer Care Number
Any queries regarding credit cards, be it payment schedule, reward offers, statement issuance, fees and charges or others, all are sorted out at the helpline numbers 1860 180 1290 and 1800 180 1290. The customer care representatives are patient and courteous; they will do their best to give you the most plausible solution.
SBI credit card customer care e-mail address: firstname.lastname@example.org SBI credit card customer care Nodal Officer Email ID: email@example.com SBI credit card customer care SMS: SMS HELP to 5676791 from your registered mobile OR SMS PROBLEM to 9212500888 to receive a call from SBI card customer care representatives within 24 hours.
In case of complaints about the staff or service, the SBI credit card customers can fill the grievance form. The form can be found on sbicard.com
Keeping your SBI Credit Card safe
The users of SBI credit card can enjoy the convenience of shopping with the card because they don’t need to worry about misuse or fraudulent activity on their card. There are features like lock, block, limit that allows you to keep a tight check on how your credit card is being used –lock out international payments and contactless payments. You can block it for cash advances and put limit on every transaction.
We have listed up some safety steps you can take to reduce your chance of being scammed.
When you are online
• When making payments online, always look at the padlock icon in the address bar of your browser and use only website with ‘https’ as they are more secure.
• Avoid clicking on hyperlinks in emails from unknown senders.
• Don’t reveal your personal data to anyone who makes contact with you with a prospect of some transaction. If you receive an email by someone or are contacted via social media, find out their company name and research the company before providing any personal details.
• Whenever you are on a public computer try your best not to enter sensitive information such as credit card details because there are so many hackers who are in the hunt of such valuable personal details. Never leave the public computer unattended, log out of all the accounts you logged in and don’t save any details in it.
When you are in store
• Set a PIN that is hard to guess –avoid using personal information such as birth year or your name.
• Never share your PIN to anyone.
• Always cover the keypad with hands whenever entering your PIN.
• Always keep your credit card in your sight when transaction occurs.
When you are travelling
• Tell SBI beforehand where and when you will travel overseas so they don’t put a hold on your card for security reasons.
• You should not keep all your cards together in a single case or purse. Keep the cards that you use close to you and other cards in a safe place.
If you ever notice a suspicious activity on your card
You should keep all your information up to date with the Bank officials, in case there is any suspicious activity takes place. Block you SBI card immediately. You can do this by using SBI Card app, or by calling 18601801290/39020202 (prefix your local STD code). Alternatively, SMS BLOCK XXXX (where XXXX is the last digit of your SBI Credit card) to 567679.
Forgot where you put your card?
There are instances when we forget the place where we last put our card and we are sure that we have only misplaced it and it’s not stolen. In such scenario, you should instantly temporarily block your card through SBI Card app until you find it.
If you can’t find it for a long period then you need to tell SBI immediately about the matter so that they can cancel the card and order a new card for you. Once you do this they will typically send you the card and other add-on card cardholders within a few business days.
When the new card arrives, you will have to activate it and establish a new PIN –you can do this via SBI Card app.
SBI Credit Card Pin Generation
You can change your SBI credit card PIN by generating a new PIN online by visiting their website. All you need is to login to your SBI account online and then click on ‘My Account’ on the left side of the menu. After this, you will need to follow these steps:
1. Click on Manage PIN
2. Select the card
3. Click on “Generate OTP” tab
4. Input the OTP
5. Enter and re-enter the new PIN
6. Click on “Submit” button
FAQs about SBI Credit Card
What exactly is a credit card?
In layman terms, a credit card is a plastic card issued by financial institution offering line of credit to its customer to purchase goods or services. The credit has a limit which restricts the user to spend more than a specified amount, which is set by the institution who offered the credit card at the first place.
What’s the difference between a credit card and a debit card?
A debit card is a medium to use the money you have already deposited in your bank account. That means the money you spend is yours and you have deposited it in the account before using it. On the other hand, a credit card is a form of loan that is not related to your personal bank accounts.
What is meant by an Add-on card?
Sometimes the user may want to have more than one users of the same credit card. In such a case, the financial institution issues additional cards which are related to one single credit card account. Add-on cards don’t get additional limits but they can have separate PINs.
What can one do with the reward points received on making purchases?
The “Shop and Smile Rewards” program from SBI allows its users to earn reward points and redeem them whenever they need. Your reward points will keep on accumulating and you can redeem them at partnered outlets or purchase anything from electrical appliances to lifestyle accessories.
Is there any change in tax after GST??
Previously, there was a service tax of 15% and now it will be charged as 18% at the GST rate.
What could be the possible reasons for rejection of SBI credit card application?
The reason could be anything from low credit score, eligibility criteria etc. In such a situation the applicant should wait for the rejection letter to come back and it will have all the reasons for rejections mentioned. Any further queries can be resolved by contacting customer care.
How to check credit card usage?
There are many ways to check your credit card usage or balance: you can use Net banking, Mobile banking, visit nearest branch, ATM, calling customer service or opt for monthly statements and SMS alerts.
What are the various credit cards offered by SBI?
SBI offers a wide range of credit cards that are specially designed to meet your needs as per your usage. They can fall under five major categories:
- Premium cards
- Travel and Shopping Cards
- Classic Cards
- Exclusive cards
- Corporate cards
The most popular cards from SBI are SBI Signature card, SBI Platinum Card, SBI Gold and More Card, IRCTC SBI Card, Air India SBI Signature Card and Air India SBI Platinum Card.
How to go about redeeming the SBI credit card reward points?
The reward points you accumulate on SBI credit cards can be redeemed online by logging into SBI cards official website. They can also be redeemed by directly going to the partner stores. Alternatively, you can also call SBI Card Helpline on 39020202 (Prefix STD code) to redeem points. Points can be redeemed only if they are in multiples of 2000 points unless stated. You have the option to choose from over 174+ products from different categories like Accessories, Apparel, Electronics, Entertainment, e-Voucher, Health and Fitness, Home-ware, Kids Zone, Luxury, and Travel & Holiday.
How can I pay SBI credit card bill online?
When a customer uses a credit card for shopping, he receives a bill that has to be paid within a fixed time. If customer is not able to pay bill on time, he will have to bear late payment charges. The interest and applicable taxes can also come into play when payment is delayed. This thing is common to those who do not use convenient online methods to pay bills and instead depend on cash and cheque.
Bill can be paid by logging into Internet Banking portal of SBI under the Bill Desk section. You can even use Internet banking facility of other banks to transfer the due amount to your SBI credit card. You can also use mobile banking and activate the Electronic Clearing Service to pay bills on or before time. Online methods are much more convenient than offline methods like dropping a cheque at bank ATMs or depositing cash at branches.
Customers can also pay State Bank of India (SBI) credit card dues via YONO app and get their limit restored instantly.
Steps to link SBI credit card on YONO app
- Login to YONO by SBI App using your MPIN (Mobile banking Personal Identification Number) or SBI Internet banking credentials.
- Under the ‘My Relationships’ column, go to ‘My Credit Cards’ section, click on ‘Link SBI Credit Card’.
- Enter the username or password (same as you use on sbicard.com)
- Click on the option to send OTP and enter the OTP you received on registered mobile number.
- That’s it! Your SBI credit card has been successfully linked to YONO app.
Steps for making payment of SBI credit card via YONO app
- Login to YONO portal by SBI App using your MPIN or SBI Internet Banking Credentials.
- Go to ‘My credit cards’ section under ‘My Relationships’ to select the card you want to make payment for.
- Click on the details of the credit card and go to the summary page of your card. Then, click on ‘Pay Now’ to go to the payment page.
- Select the SBI account for making payment.
- Enter the amount and click on ‘Pay Now’ for completing the payment.
Credit card pros
Easy to use: Nobody roams around with a stack full of cash all the time; we carry only a small amount of cash with us. But an emergency may arise anytime with requirement of large sums of money. Credit cards come handy in such a situation when you don’t have sufficient balance with you. Credit card is also a handy way to shop online and carry out transactions.
Security: Cash is always prone to theft and if you ever lose cash then it almost becomes impossible to recover it. But that’s not the case with credit cards; you can always get a replacement card if your original card gets stolen. In case your card gets used for fraudulent transactions then you are liable to pay only a few thousand rupees at most. There are also some credit cards that have zero-liability policy under which customer is not liable to pay anything in case of fraud.
Purchasing Power: Having a credit card means that you can always make big purchases without thinking twice. You can pay that amount in easy monthly instalments. Normally, you would have to save for many months in advance before you buy that thing.
Reward Points: Even if you are not a shopaholic you can still earn cashback and take benefits of other offers by accumulating points on every purchase you made. Reward points are awarded for purchases, flight booking, and other affiliations of the card provider.
Exclusive offers and special rates: Banks keep on announcing special offers with associated companies every now and then. Sometimes, they announce exciting balance transfer rates for new and existing customers.
Credit card cons
Spendthrift: This is the first concern of anyone who is looking for a new credit card. A credit card is a double-edged sword, if not handled properly; you could invite debt that will become beyond your ability to pay off. Credit cards are not access to “free money”, and when interest starts to pile up, you begin paying more than the purchase price of your goods.
Multiple Uses: A credit card should be preserved for only one purpose. If you use a balance transfer credit card then you should use it for that purpose only. A credit card with preferred rate for purchases should be only reserved for that. When customers start to use a single card for both types of purposes on their credit card simultaneously, problems start to rise. This, pragmatically, is a conflict of interest. The debt with lower interest rate is paid off first, which means that the debt with higher interest purchases will keep acquiring interest and your repayments won’t have any effect.
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