With a sea of options available, it becomes very difficult to choose the most suitable card, which will fit your requirements. In order to make the choice, it is advisable to analyze your spends- where you can earn sizeable cashbacks, reward points, rebates, miles, discounts, etc. If you are a frequent traveller, a travel credit card will make it easier for you to enjoy your trip without making it too expensive for you.

• It’s kind of a readily available loan- Credit card serves as a replacement of cash and thus, enjoys widespread popularity. They can be used to buy almost everything you can think of. However, you should never lose sight of the fact that this is basically a form of borrowing. The credit limit, interest rate, and grace period are to be taken into account whenever using a credit card, or better still, right when you apply for credit card. Efficient management of credit card debt requires paying more than the minimum amount along with interest levied on it at the end of every month. Do check out the Bajaj Finserv RBL Bank SuperCard to enjoy exciting features. 
   
• You should know about interest rates- the interest rate of a credit card is the price you pay for borrowing money. All the purchases made through credit card are subjected to an interest rate termed as the Annual Percentage Rate, i.e. APR. The interest that you will have to shell out each day can be calculated by converting your annual percentage rate to a daily percentage rate by dividing it by 365. If you carry forward your APR month to month, all your rewards and perks will be waived off and you will be left with just a card. 
   
• How a grace period works- a grace period refers to the time during which any interest on the purchases made in that period can be avoided by paying off the new balance in full before the due date. The grace period starts from the end of a billing cycle to the next payment due date. If you lose your grace period by not paying your full balance by the due date, you will be charged interest on the unpaid portion of the balance. 
   
• How to apply for a credit card: once you select the card with a reasonable annual fee and interest rate, you need to embark on the on the fairly comprehensive procedure which comprises checking the eligibility, filling in the application form, furnishing the required documents, etc.
   
• How long does it take to get approved for a credit card: it takes no more than 15-20 minutes to fill an online application form but financial institutions take time to review and approve the same. It is safe to presume that from the day you apply for the card, it takes around 10 days to know whether your application has been accepted or declined. In the former case, the card will be dispatched within two weeks of approval. In case your application is rejected, go through the reasons for the same as mentioned in the rejection letter and try to avoid those mistakes while applying for the next time.