Most have credit card for a beginner

Credit Card For The New Credit Card User

 

Hello, I am Pritam today I am going to discuss the best credit card for a beginner. As a beginner, I am assuming that you are at the age of about 21-30 because the early job holder generally comes at this age.

Before that, I am going to tell you about 5 advantages of credit card 

1. You get around 50 days of interest-free money 
2. You get rewards on your spending
3. Get discounts on shopping
4. Your CIBIL score increase if you pay your bill on time
5. You get an easy loan 

 

The top 2 credit cards are 

1. AMAZON PAY ICICI CREDIT CARD
2. FLIPKART AXIS CREDIT CARD

AMAZON PAY ICICI CREDIT CARD

What Is an amazon pay credit card?

It is a credit card offered by ICICI bank associated with AMAZON to give rewards to the loyal AMAZON customer. when you spend using this credit card you get reward points As Amazon-pay balance which can be used by shopping or bill payments on Amazon. Its offer with zero processing charge and zero annual maintenance charge means if you are eligible for the card THEN YOU CAN GET IT FREE.

KEY BENEFITS OF AMAZON PAY ICICI CREDIT CARD:

•   If you are a Prime Member then you will get a 5% amazon pay balance on the amazon shopping and 

1. 2% amazon pay balance on bill payment and 1% amazon pay the balance if you shop outside the amazon eco-system except for fuel spending
2. If you are a non-prime user then you can get a 3% amazon pay balance on the amazon shopping and a 2% amazon pay balance on bill payments or add-ons and a 1% amazon pay balance if you shop outside the Amazon. But, surely, you get 1 rupee on the spending of 100 except for fuel purchase.
3. You can get a 1% surcharges waiver for all your fuel spending, which means you do not have to pay any extra charges on fuel purchases. 
4. No joining fee, no annual fee, NO limits on earning, no limit on the expiration date of the reward point earned.

    

    

 AMAZON PAY ICICI CREDIT CARD REWARD %

 

 

 

  AMAZON PRIME MEMBER                                                

 

AMAZON SHOPPING    5%

 

BILL / ADD ON PAYMENT    2%

 

OTHER SPENDING      1%

 

  GENERAL USER

AMAZON SHOPPING    3%

 

BILL / ADD ON PAYMENT    2%

 

OTHER SPENDING 1%

 

 

 

 

FLIPKART AXIS CREDIT CARD

 WHAT IS A FLIPKART AXIS CREDIT CARD?

It’s a credit card that is offered by axis bank associated with Flipkart, to benefit Flipkart customers with cashback as a reward. According to its offer time, it gives a free joining fee, and sometimes it charges with RS 500 as a joining fee but it gives back as Flipkart coupon worth 500, it takes annual fee as 500 if you spend more than 2 lakh than the annual fee will  be free.

KEY BENEFIT OF FLIPKART AXIS CREDIT CARD 

1. shopping from Flipkart or Myntra 5 % cashback
2. Shopping from uber, Swiggy, 1mg, TATA SKY, CUREFIT, Cleartrip, PVR 4% cashback

Other merchant transactions 1.5% cashback

 

 

DISADVANTAGES

1. 1 % Fuel surcharge waiver up to 500 rupee
2. ANNUAL fee 500 Rs every year if you could not spend 2lakh

 

Here you can find the annual fee but if you buy a product worth 15000 then you get 5% of it which is 450 which is technically the cost of your annual fee.

Do not use this credit card for fuel buying use another card for it.

Here the reward will be adjusted against the bill it means if your bill generated 100 Rs and you are eligible for 5% rewards then you have to pay 95 Rs as your bill.

 

 

Why credit card?

 

We use a credit card to get a reward or to enjoy the credit period of the credit card but if we do not aware of it we might get a step into the trap of credit card. ALWAYS USE TECHNOLOGY TOWARDS OUR BENEFIT, for that you always remember one rule 

If the buying product actual required or  not for that do not buy the product for 1 week then see how often it come to your mind its necessity ,If it is coming multiple time  than  it is necessary then buy it other wishes do not but that product.

 

Use credit cards if and only for necessary products you should not use the credit card for the luxury item because it is plastic money when you spent it does not feel like anything for which you can spend more money. Another reason is you will think that it has to pay late and its other money so is aware of these psychological things.

READ about credit card mistakes

These top two credit card is my favorites because it always gives me cash back on my spending which I use to buy gold ETF by adding some extra money by my side .which is generated from my spending.

So even if I am spending I am generating money not only generating money but also putting it to grow for the future.

 

Credit card is good and bad at the same time if you did not analyze yourself and only spend thinking that you are going to pay it the next month with 70% of your credit limit then very soon this wrong behavior put you on a credit card tarp.

Read the WAY TO USE CREDIT CARD WITH ZERO PENALTY

Do not use your credit limit of more than 30% of your total credit limit, if you do not do so very soon you are in a trap of bad habit. when the CIBIL algorithm catches it your CIBIL started to decrease. which means very soon you are going to be an asset for the credit card company with a bad credit score because very soon you might default on payment.

READ Credit card most known rule.

 

You must track your payment through your credit card site or other sites like cred.

Cred helps you to track your spending and inform you about any hidden charges. You also pay your credit card bill with cred and you can get a reward .pay your credit card bill through cred. you can find other apps which reward you but I find cred is better for now. If you know of any better offer than this kindly let me know in the comment section.

Use the credit card for your benefit.

 Think before act

Give some time to understand

 

Thank you.