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Having a credit card with a low interest rate might be advantageous for people who want to use their credit cards to purchase pricey products. When it comes to credit cards, interest rates that range from 1.5% to 2.99% monthly are typically seen as being cheap. Here, we examine the benefits and drawbacks of having a credit card with low interest rates, as well as who should apply for one.

Advantages and Disadvantages

Advantages

Yearly fee savings: These cards often have lower annual fees than the majority of other credit cards. If a particular amount is charged on the card each year, the credit card provider might also waive the annual fee.

Low Interest Credit Cards Have Lower APRs: Low Interest Credit Cards Have Lower APRs. This makes it possible for consumers who have low-interest credit cards to benefit from lower interest rates long after the promotional period has ended.

Disadvantages

Few benefits are available: A person is only qualified for a few benefits, such as low interest rates. Low interest credit cards might not come with as many benefits as other credit cards, such as generous rewards, cash back, air miles, deals, and discounts.

Presented to wealthy people: HNIs are given lower loan rates in an effort to draw them in. These benefits are given to these people by banks in order to attract their business.

Best Low Interst Credit Cards with their Interest Rate: 

HDFC Bank INFINIA Credit Card Metal Edition: 1.99% per month, or annualised 23.8%

IDFC First Wealth Credit Card: from 0.75% to 3.5% monthly

HDFC Bank Diners Club Black Credit Card: Monthly 1.99%, or 23.88% yearly

IndusInd Bank Celesta Credit Card: 2.99% monthly

IndusInd Bank Crest Credit Card: Monthly 2.99%, or 36% yearly

The general operating premise of credit cards is "purchase now, pay later." The cards offer a variety of benefits in addition to rapid credit access, such as cashback, reward points, discounts, and more. Credit cards can be a valuable financial tool if utilised properly. Through these cards, you can increase your credit score in addition to receiving a number of additional advantages. However, some users frequently manage them improperly. Users frequently commit errors without comprehending how they may affect their income. Therefore, we've covered several typical credit card usage errors that you should avoid in this article.

Common credit card mistakes to avoid

Applying for numerous cards too frequently

Many people attempt to carry many credit cards in order to take advantage of credit card promotions from various firms. Each card, however, comes with a unique set of attributes, such as credit limits, interest rates, and payment due dates. Consequently, managing lots of cards can be difficult.

Failing to keep a proper credit utilisation ratio

As you are aware, a number of variables, including your monthly income, credit history, open loan accounts, and credit utilisation ratio, affect your credit score. Any change to one of these factors can severely lower your credit score.

Obtaining a credit card that is inadequate for your needs

Credit cards are available in India from a number of banks and non-banking financial institutions (NBFCs). Selecting the appropriate credit card is essential. Before applying for a credit card, you should carefully consider its terms, conditions, fees.

HDFC Bank is a well-known financial organisation because of the high calibre and broad facilities it offers. It is well known both in India and around the world and acts as the country's biggest private bank.

To satisfy everyone's needs for a credit card, HDFC Bank offers a variety of cards, ranging from the most basic to the most luxurious. But that's not all; as we'll see below, there are a lot of other benefits offered by HDFC Bank Credit Cards.

HDFC Credit Cards Provides its users with number of benefits:

Welcome benefits

Travel Benefits

Savings and discounts

Insurance benefits

Rewards

There are numerous credit cards available, each with special features and advantages. Anyone who wants to get a credit card can do so because they not only are available with specific designs for different categories, but they also have a range of fees and costs that range from basic to premium.Most people with high salaries use premium credit cards since they are more expensive than normal credit cards. They can charge higher annual and joining fees because they offer their users better benefits and services than typical credit cards. 

Following are the best 5 premium credit card:

HSBC Premier MasterCard Credit Card

HDFC Bank Infinia Credit Card Metal Edition

Axis Reserve Credit Card

SBI Elite Credit Card

HDFC Diners Club Black Card

Bottom Line:

Since premium credit cards are hard to get, applicants must have both a high income and a good credit history in order to be accepted. If you fit these criteria, a premium credit card is something you need to have immediately. These cards offer numerous benefits across all categories, such as rewards, cashback, travel, entertainment, dining, and many others.

With increased knowledge and security precautions, fraud and scams continue to occur on a regular basis. Credit card fraud occurs when fraudsters use a skimmer to duplicate the information on the card or forge it. If a person is fooled, they may make unauthorised purchases that result in high expenses. In addition, if their credit card bill keeps rising, their credit score may suffer.

Ways to avoid Credit Card Fraud:

Avoid revealing credit card information:

Never reveal your credit card information to anyone, not even close family or customer care professionals who call to assist you with an account problem.

When conducting internet transactions, use extreme caution:

 The majority of fraud occurs when people do not take necessary precautions when conducting online transactions. Never click on a suspicious-looking link or provide an OTP to a caller; it's almost certainly a scam.

Avoid using public WiFi: 

Many people take this for granted, but it is extremely dangerous. Hackers and scammers set up free Wi-Fi for the public to use before stealing your personal information from your phone.

Bottom Line: 

Credit card information can be hacked in a variety of ways; however, there are many measures for preventing and identifying scams that, when implemented, reduce the likelihood of theft dramatically.

Why do people opt for AU Small Finance Bank credit cards? What benefits AU Small Finance Bank credit card offer to their customers? Usually people want to save money that's why they go for credit cards as credit cards give them access to a variety of rewards, deals and discounts. Well, AU Small Finance Bank provides their customers 4 special credit cards that enable them to have luxury benefits which include travelling to foreign countries and many more.

Benefits of having AU Small Finance Bank.

AU Small Finance Bank Credit Cards offer a variety of benefits in dining, shopping, travel or entertainment categories.

AU Small Finance Bank gives their users protection and insurance coverage benefits. Suppose a user’s credit card is lost and stolen in that case the bank will recover losses.

Credit Card comes with no interest period for over 40 to 60 days of issue. In this time period you will not pay interest on purchases made via credit card.

 Types of AU Small Finance Bank Credit Cards

AU Bank Vetta Credit Card

Vetta Credit Card offers benefits on airport lounges, reward points and global concierge services.This card is best suited for travel and shopping with a joining fees of ₹ 2,999

AU Bank Zenith Credit Card

 A premium credit card offers numerous benefits such as travel, rewards, cashback. With a joining fee of  ₹ 7,999 this card is ideal for travel, shopping and dining.

AU Bank Altura Credit Card

A basic cash back credit card, altra plus credit card helps the users to save a lot of money as a form of cashback. This card has a joining fee of ₹ 199 with applicable taxes. 

AU Bank Altura Plus Credit Card

As the name suggests this card is an updated version of  Altura Credit Card. This card is best suited for shopping with joining fees of ₹ 499 with applicable charges.

AU Small Finance Bank LIT Credit Card

With zero joining fees this card is best suited for movies, travel, shopping, dining and fuel.