Perks of using a credit card 

In India credit cards are own for taking credit on a high interest which takes you into debt, well that not the case it can save and help you save a lot of money over time if used right. Some of the major banks in India are:-

State bank of India, Punjab National Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, etc.

The one bank I look at is Kotak Mahindra Bank and HDFC bank as these are the ones I prefer can give the most benefit a Kotak Mahindra full KYC account is 0 minimum balance account that means it can be held at no money in your account whereas the edge account requires them to hold a minimum of 10000 Rs in order to not get penalty fees but it has its perks as it offers a higher interest rate up to 4% on the money above 1 lakh and not the 1 lakh, for example, you have 2.5 lakh in your bank account then 1 lakh will get an interest of 3.5% p.a and any money above that or in this case the remaining 1.5 lakh will get an interest of 4 % p.a. 

The best credit card to start with is the Dream different card it does not have any joining or annual fees if the user spends 5000 Rs in 45 days of activation you get 500 Rs as reward points which is basically 10% off on what you spent. If spent 75000 Rs annually can give you 1% of it back i.e 750 Rs as reward points. It gives back 2% of what you spend online as reward points and 1% back on any other expenses. I think it is a great card to start with and can suit or not suit your needs.

Once you get good with your money you can apply for higher or other cards which can get you more benefits than the annual fees on your card. Kotak's card with some annual fees can give you rewards up to 10% of the item or service purchased and can have more offers like money for travel and much greater things. 

If you are a person that shops on amazon a lot which most people does you can get the Amazon ICICI credit card which gives 5 % off on things purchased on amazon and others are either 1 or 2 % off. 

The biggest advantage of using a credit card 

The biggest advantage of using a credit card is that it builds your credit score.

Credit score is an essential part if you want to finance or take loans for something or to start a business. Having a good credit score means that you are good at handling your money and can repay the finance or loan without any problem. A good credit score ranges anywhere from 690 to 719 and an excellent one ranges anywhere from 720 to 850. A range of good credit scores can be different according to the site. 

How to get a good credit score will be made for another blog 

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