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2 mins Read | 11 Months Ago

Choosing Suitable Credit Card for Your Spending Habits

Choosing the Best Credit Card for Your Spending Habits

Choosing Suitable Credit Card for Your Spending Habits

Credit Cards offer customers a convenient way to make purchases and access credit when needed. There is a range of Credit Card options available for customers. Not all Credit Cards are the same so you should choose the one that suits your spending patterns.

In this blog, we will explore some key factors to consider when choosing a Credit Card that suits your financial needs. If you are a movie buff, we will tell you about some of the best ICICI Bank Credit Cards for movies to elevate your movie-going experience.

Sense and Suitability: Finding a Credit Card that suits your spending habits

Before you think of a Credit Card, consider a few things.

1. Determine Your Financial Goals

It's important to determine your financial goals, not just for a Credit Card but for everything that involves your money. Before you go looking, ask yourself what do you want to achieve with it. Do you want to earn rewards or cashback on your purchases or do you need a Credit Card with a low-interest rate to better manage your debt? If you take your current finances into account, identify the areas where you spend more and determine how your financial goals will be impacted, you can narrow down your options and choose a Credit Card that aligns with your needs.

2. Check Your Credit Score

Your credit score is a key factor that determines whether you will be eligible for a Credit Card and the interest rate you will be offered. Before you apply for a Credit Card, please check your credit score and ensure it is good. If your credit score is low, try and take some measures to improve it such as paying off debt and making timely payments.

3. Compare Interest Rates

Almost all Credit Cards come with varying interest rates. It is important to compare them to ensure you are getting the best deal possible. If you tend to carry a balance on your Credit Card, look for a card with a low-interest rate to save money on interest charges.

4. Consider Rewards and Cashback Programmes

Rewards and cashback programmes are a particularly beneficial feature of Credit Cards, offering customers the opportunity to earn rewards or cashbacks on a number of purchases. Before choosing a Credit Card with rewards or cashback programs, consider the following:

  • What rewards or how much cashback do you stand to earn for purchases?

  • Are there any limitations on earning these rewards or cashbacks?

  • How and for what can you redeem these things?

Some Credit Cards offer rewards or cashback for specific purchases such as dining out, fuel, movies or travel. If you are someone who spends a lot in these categories, consider a Credit Card that offers rewards or cashback for these purchases.

5. Look for Perks

Credit Cards can also come with a range of perks like travel insurance, exclusive airport lounge access and discounts on many other purchases. Consider these things and see how your card will help you in line with your spending habits and lifestyle.

For example, if you travel a lot, look for a Credit Card that offers travel benefits like discounted flight fares. If you enjoy dining out, look for a Credit Card that offers discounts or cashback on restaurant bills.

6. Evaluate Annual Fees

Some Credit Cards come with an annual fee which can vary from bank to bank and according to the card’s spending limits and bonuses. Consider whether the benefits offered by the card outweigh the annual fee. If you are not sure whether a Credit Card that comes with an annual fee is for you, consider whether you will be able to earn enough rewards or cashback to balance it.

7. Check Credit Limits

Credit limits too will vary from card to card and the customers they are offered to. Choosing a credit limit that aligns with your spending is more important than going for the one with a huge credit limit. Of course, if you tend to make big purchases, look for a card with a higher credit limit.

Credit Cards for Movies

Now that you have a basic understanding of how to select a Credit Card to suit your needs, let's look at some of the best available Credit Cards for movies. If you are someone who loves going to the movies, there are quite a few Credit Cards that can help you save money and earn rewards for your purchases.

Here at ICICI Bank, we have some of the Credit Cards for movies that can be used by movie buffs.

A. With the ICICI Bank Sapphiro Credit Card, you can get a buy 1 get 1 up to two times a month when you book through BookMyShow. There are also many reward points on dining, groceries, and entertainment. The card also offers complimentary access to airport lounges, travel insurance and fuel surcharge waivers making it an excellent all-around Credit Card.

B. The ICICI Bank Coral Credit Card is another excellent option for movie lovers. Cardholders can get a 25% discount up to Rs 100 on entertainment on a minimum booking of 2 tickets up to 2 times a month on BookMyShow. These are available on any day of the week subject to daily stock availability and on a first come, first-serve basis. The card offers great discounts at restaurants, comes with complimentary airport lounge access and offers fuel surcharge waivers as well.

Customers can also get a discount of 25% that is up to Rs 150 on a minimum booking of 2 tickets up to 2 times a month for BookMyShow bookings. The InterMiles ICICI Bank Rubyx Credit Cards, ICICI Bank Rubyx Credit Cards, ICICI Bank Manchester United Signature Credit Cards, ICICI Bank Ferrari Signature Credit Card and ICICI Bank MakeMyTrip Signature Credit Cards offer this.

Conclusion

Choose a Credit Card that not only suits your spending habits but also provides benefits. This requires some consideration of your financial goals and lifestyle and a little bit of research. By taking the time to compare interest rates, rewards and cashback programmes, perks, annual fees and credit limits, you can find a suitable Credit Card that aligns with your needs and helps you save money