Choosing the best credit cards is also a type of art. It includes a lot of research over the present credit card in the markets. Several questions would arise in your mind while choosing it. First of all deciding which type of credit card suits your expenses is the most important section in choosing the credit card.
Generally, you can divide the credit card selection process into three categories. They are
- Analyzing your credit score
- Doing research on different types of cards
- Decision-making process
Table of Contents
1) Why do you need to analyze your credit score?
Your eligibility for a credit card is determined by your credit score. You need to know “How much your credit score is?” before applying for the credit card. If you need to pick out the best credit cards with high perks your should need to possess a high credit score.
You can’t able to calculate your credit score like your credit card interest. to calculate credit score you can go for online websites or some mobile applications. You can’t simply calculate it free of cost. Only some of the providers provide the score free of cost.
- The three major credit card bureaus such as Experian, Equifax, and TransUnion have been selling the credit scores. Here they allow you to entitled one free report from these major bureaus per year.
- You can also use NerdWallet to get your credit scores.
- CreditWise from Capital One and Discover Credit Scorecard are some other sites that provide you the credit scores free of cost.
- AnnualCreditReport.com is the site that you can request a free copy report of your credit score.
1.1) FICO score
If you already have a credit card then you are applying for the newer one you can also use the FICO score. There will be variations between credit score and FICO score. However, the FICO score is generally used by 90% of American financial institutions.
- FICO score ranging between 300 to 597 is considered to be a poorer one.
- A score ranging from 597 to 669 is considered a fair score.
- 670 to 739 and 740 to 799 are considered as good and very good ranging scores.
- If your score lies between 800 and 850, it is considered to be an excellent score.

As said earlier if your credit score or maybe FICO score is higher you can opt for the best credit cards in the market. When you demand the best and top-rated credit card with a low credit score your application will be rejected by the credit card issuer.
Note that if you have any issues with a credit score like having a low credit score, you can look for other ways to improve the credit score. You can also use some of the credit card features to increase your credit score.
If you have a higher credit score there is a higher chance of getting the best debit card. But there are some other criteria too. You also need to be eligible for that criteria to get the best debit card. They will verify your income, old credits, etc… even these eligibility varies upon the different types of the credit card. For Example, a shopping credit card has different criteria while a student credit card has different criteria.
2) How to do research on different types of cards?
This section in choosing the credit card is much more important. Each card carries its benefits in their way. It all depends upon how much it is useful for your way of expenses and lifestyle?. Some of the available types of credit cards are
- Student credit card
- Secured credit card
- Travel credit card
- Shopping credit card
- Cashback credit card
- Balance Transfer credit cards
- 0% interest credit cards.
2.1) For whom student credit cards are suitable?
For other types of credit cards, the user should possess an income and should be above the age of 18. A student who wishes to use the credit card features without higher interest and higher annual maintenance fees. As it is a student credit card the credit limit is also lower in this type of credit card.
They will not offer any cashback, rewards, and other vouchers. Some banks allow you to convert the student’s credit cards into normal basic credit cards after he possesses income. Minimum of 10th and 12th qualifications must be possessed by students to possess student credit cards. This is strictly only for those students.
2.2) For whom secured credit cards are suitable?
If you are a person with a lower credit score or with a lower FICO score this must be a better option for you. Secured credit cards demand you some amount so that they are deposited in your account as secured cash.
Some banks demand a minimum amount as security. But other banks would have demanded a larger amount as security. The secured Credit card limit depends upon your deposited money. If you would need a high limit then you should need to deposit more.

The deposited amount can be refundable. Some banks would refund when you close the account or if you would convert the secured credit account into an unsecured credit account. Even it is refundable if you would have the pay the balance in full for the past 4 months. But this is applicable only in limited banks.
This is one of the best options to increase your credit score. When applicants got rejected due to lower credit scores, they could choose secured credit cards, and then by increasing their score they can opt for the best credit cards. Because secured credit cards increase the credit score to a considerable range.
2.3) For whom travel credit cards are suitable?
It is in the name itself, travel credit cards are particularly designed for those travelers. If you are a businessman and if you are traveling frequently then it must be a better option for you. But to be eligible for this card you need to possess a high credit score.
Travel credit cards include several benefits. They provide offers on hotels, rental rooms, and rental cars. When you use this card for this type of works you can earn much more rewards and cashback.
They have associated with several other travel partners. Airmiles credit cards are also one of the travel type credit cards. Here your rewards are provided in the form of miles. You can redeem these miles while you booking your airline ticket.
2.4) For whom shopping credit cards are suitable?
As the name implies a person who is spending more money on shopping will be the best user for shopping credit cards. Here when you swipe your card for the payment of shopping you are awarded several rewards and vouchers. This type of credit card also requires a somewhat higher credit score.
Likewise, cashback credit cards are suitable for those who want rewards as cashback.
2.5) For whom balance transfer credit cards are suitable?
When you have a large outstanding balance in your car which carries a higher interest rate. This will lead to critical credit card debt. The people who need to get rid of this can choose balance transfer cards.
Here you can transfer the balance from higher interest cards to lower interest cards. These cards initially have a low introductory interest rate sometimes 0%. This is known as the introductory period. After 1 or 2 years they would also possess some inf of interest.

2.6) For whom 0% interest cards are suitable?
People who may feel that they are not able to pay the monthly bill within the due date can choose this type of card. If you kept an outstanding balance you are supposed to pay interest for that. To avoid this scenario you can choose 0% interest credit cards and 0% APR credit account.
The main advantage of 0% interest in credit cards is at the time of credit card debt. Those who are not willing to take risks by using credit cards would go for this option.
3) How to take final decisions?
The first two steps would filter the types of credit cards you need. Here you are supposed to choose the banks and which type of card it is?. However, this may be the difficult part. After making the final decisions look for the application form of the respective banks.
It is also available online. You can enter the details online. Sometimes KYC is also being conducted online.
Hereby concluding that none of the cards is better than the other. It always depends upon the person and the expenses.no travel credit card will be helpful if you are shopping minded person. So choose according to your lifestyle. Look for the bonus options like 0% APR, 0% interest etc…Credit card selection and usage without debt is an art. Whatever may be the credit card type, try to use it within 30% of the credit card limit.
4) FAQ
Axis bank Ace credit card is considered to be the best shopping credit card that offers cash back. It would offer 5% of cashback if you made any payments through Google pay. 4% on other platforms like Swiggy, Ola, and Zomato. And remaining 2% of cashback or rewards on all other spendings. Which is the best shopping credit card in India?
American Express Platinum Travel credit card is the best-suited travel credit card in India. If you spend the amount of 4 lakhs then you would receive a travel voucher worth Rs 9,440.