Credit cards are everywhere. These days, they are used in almost all underlying operations like purchasing items from the store or even for your online sale as well. A credit card helps to shape you a good lifestyle, and since there is a fixed amount for which you have to take in the credit for, you can even stop yourself from the overspending habits that you have. They are the growing aspects of the economic market, and as we are towards the source of digital transactions, credit cards are becoming more and more efficient these days.

Moreover, Credit cards are instantly safe for you to use for any source of electronic payments since they are backed up by full security. As a matter of fact, credit cards are comparatively safer than debit cards.

However, since each and every bank is offering new credit cards with amazing rewards, which one to choose? In this article, we are going to discuss the ten best credit cards in India so that you can choose the one that suits you the best.

Why Credit Cards?

Credit cards are very similar to a debit card issued by a bank or a financial institution. However, credit cards let the cardholder borrow money from the financial institution to pay for goods and services. It imposes the condition that the cardholder must pay back the borrowed money after a certain period of time along with some interest as well as any additional charges if agreed.

The company issuing the credit card may also put up a line of credit (LOC) to enable the cardholders to withdraw money in the form of cash. The institution customarily presets the borrowing limits of the customer based on his individual rating. The borrowing limit can be set monthly, quarterly or annually, according to the profile and needs of the customer.

This mode of payment is one of today’s popular payment method for buying goods and services because of the following reasons:

  1. Purchasing Power: Credit Cards empower the holder to purchase locally as well as overseas also. They also let you purchase through phone, online and at stores, of course. Most of the credit cards, especially MasterCard and Visa, are accepted virtually anywhere.
  2. Shop now, pay later: Credit Cards make it very easy to buy on credit. For example, if you’re spending money on regular monthly expenses, it’s usually not a good idea to use your bank balance. Instead, you can buy through credit card and return the money to the bank by the end of the month. This way you have used the leverage instead of using your own money. Besides, credit cards are the best tool to help us track our expenses and hence it can help you in budgeting.
  3. Rewards: Mostly, all the banks and financial institutions who give credit cards offer various rewards and cashback on our day-to-day purchases. For example, if we book a movie ticket, there are numerous offers available from different companies. Some also offer benefits like ‘Buy 1 Get 1 ticket’, which results in the benefit of the customer only.

In addition, Credit cards can also act as emergency protection. In case of a medical emergency or unexpected event, one should maintain an emergency fund which must be equal to his/her six to twelve months of salary to keep him/her. A credit card can help you to fight with the unforeseen expenses.