Best way to Apply for New Credit Card in 2019
Apply for New Credit Card
The credit card market is filled with different cards, each one promising something better than the other. With attractive reward points, great discounts and premium privileges, credit cards are a popular choice among many individuals. If you are also looking to apply for a new credit card this New Year, here is how you can do so in the best possible way –
- Choose which card would be suitable for your transactions
Did you know there are different types of cards? Yes, credit cards come in the following variants –
- Travel cards – these cards are meant primarily for travel related spends. These cards give accelerated reward points on travel ticket bookings and hotel bookings. Moreover, air miles are also awarded on card spend and you get travel related privileges
- Shopping cards – these cards give higher reward points on shopping
- Lifestyle cards – these are meant for dining and lifestyle related spends
- Premium cards – these are for HNIs and elite customers.
So, depending on your requirement and suitability, choose a card. The reward points which you can get would depend on the card selected so be careful.
- Meet the eligibility criteria
Every card has a list of eligibility requirements. Find out if you fulfil the eligibility prescribed. It is better to apply for a card whose eligibility criteria you qualify for otherwise your application would be rejected. Some common requirements include your income, age, address, etc.
- Compare the cards
As stated earlier, there are multiple credit cards. Even when you select the type of card you require you would find various cards competing against each other. You should compare the available cards before selecting one. While comparing compare the interest charged by the card. The lower the interest charged the more affordable it would be. Also, compare the reward structure. The best card would be the one which offers the highest benefits and rewards on transactions.
- Apply for the card
After you have zeroed in on the right card, make an application to get it. Application can be made in the following ways –
- Offline – offline application can be done by visiting the bank’s premises or contacting a bank’s executive. Then the application should be filled physically and submitted so that the card can be issued.
- Over the phone – you can also apply for the card over the phone by calling the financial institution and expressing your desire to apply for the card.
- Online – the online mode is the best mode for credit card application. The form is filled and submitted online and the card is also issued easily.
- Pay the applicable fee
A joining fee might be payable when applying for the card. Pay the fee when you apply for the card. When the fee is paid the card would be issued.
When you follow these steps, you can apply for the card easily and get the best card for your needs. Make sure to compare the cards as you can opt for a low interest rate card which has the best reward programs. So, this new year get the credit card you need by following the above-mentioned steps.
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