ICICI has always been known to offer its customers diverse credit cards. You can pick a card that suits your shopping needs the most from the host of alternatives available. Most ICICI Credit Cards are easy to apply for and have pretty simple eligibility criteria. However, with so many options to choose from, it can often be overwhelming to choose and use one.
It, therefore, becomes important to comprehend how to make the most of this financial instrument and carry out all your transactions easily. Read on to understand ICICI credit cards.
What is a Credit Card?
A debt instrument, a best credit card allows you to make a purchase first and then pay for it. Once you swipe your card to buy an item, you pay for it in your upcoming billing cycle, either in full or in easy EMIs. There is a specific credit limit on every ICICI credit card, beyond which you cannot spend. Let us take a quick look at the most popular ICICI Credit Cards.
Know the Best ICICI Credit Cards
Understand ICICI Credit Cards
Having the right credit card is important, however using it smartly is equally necessary. Here are some easy tips:
1. Understand the Rewards
Most credit cards come loaded with rewards; however, you need to research how they work. For example, some ICICI Credit Cards provide rewards on groceries while some on air travel; pick a card that will best reward your spending.
2. High Credit Limit
Try to get a higher credit limit sanctioned on your card as it will increase your spending limit. Staying well within the limit will also improve your credit score.
3. Never miss a Due Date
Missing a credit card bill date will not reflect badly on your credit score but also bring high-interest rates.
Also, keep in mind that paying the minimum due amount is not enough. You would end up paying hefty interest on the balance.
4. Avoid Withdrawing Cash
As far as possible, do not use your credit card to withdraw money as it attracts heavy interest rates.
5. Check the Statement
Scrutinising your monthly credit card bill is vital. You must understand how the charges are levied. Report an unexplained charge/ transaction immediately.
Now that you know how ICICI Credit Cards work and how to use them smartly, apply for one today.
Articles under 'Fortune India Exchange' are either advertorials or advertisements. Fortune India's edit team or journalists are not involved in writing or producing these pieces.