Carrying Forward A Balance On Your Credit Card Here Are Five Low Interest Credit Cards

Credit cards are among the most popular money instruments available in India. It is essential to pay your debts on time to avoid interest fees. Some credit cards have the possibility of carrying the balance to the following month’s cycle of billing. But, if the card comes with a high interest cost, you could pay a substantial fee for the amount due. So, which credit card is the best choice if you wish to carry the balance forward?

HDFC Infinia credit card

This card is a high-end credit card that is ideal for high-net-worth individuals. The card’s Eligibility will be “by invite” only.

The key features of HDFC Infinia credit card

1. A monthly rate for the interest of 1.99 percent
2. Joining fee of Rs. 12,500 plus taxes applicable.
3. Complimentary Club Marriott membership for the first year. The membership includes 20% off eating out and staying.
4. A welcome reward of 12,500 points
5. Lounge access at no cost across the globe
6. Earn five reward points for each Rs. 150 spent
7. The markup fee for foreign currency is low at 2.2%
8. The credit period can last up to 50 days. The interest-free credit period

HDFC Diners Club Black credit card

This card comes with various benefits in rewards, travel, eating out, shopping, and golf. Let’s examine the benefits and charges offered by this card.

The key features of HDFC Diners Club Black credit card

1. A monthly rate for the interest of 1.99 percent
2. Joining fee of Rs. 10,500 plus taxes applicable.
3. Free memberships to Club Marriott, Dineout passport, Amazon Prime, Forbes, MMT Black, and Times Prime
4. You can earn five reward points per each Rs. 150 spent
5. Free golf games
6. Dining, travel, and health benefits
7. The credit period can last up to 50 days. An interest-free period of credit
8. Foreign currency markups of up to 2 percent

Citibank Reward credit card

With no joining fee and various rewards and benefits, the card’s benefits are worth a look.

The key features of Citibank rewards credit card

1. A monthly interest of 3.75%, with zero joining charges.
2. Two thousand five hundred reward points as a welcome reward.
3. Earn 10x reward points at department and clothing stores.
4. Credit card that is contactless
5. Rewards points that will never expire
6. No annual cost

SBI Prime Advantage Credit Card

The card is expensive in terms of annual and joining fees but offers a variety of advantages. The card is accepted worldwide in more than 24 million locations.

Highlights in SBI Prime Advantage Credit Card

1. Membership and annual fees of Rs. 2,999 each.
2. A low-interest rate of 1.99 percent
3. Contactless cards with unique security features.
4. Free golf sessions
5. 10X reward points when you shop

HDFC Regalia Credit Card

The card comes with various benefits, especially for people who frequently travel. Additionally, it comes with numerous dining and reward points, making it an excellent choice for those with higher spending habits.

Key Highlights of HDFC Regalia Credit Card

1. Monthly interest rate of 3.6 percent
2. Membership/renewal costs Rs. 2500 plus taxes
3. The welcome bonus of 2500 reward points
4. A credit term that is interest-free for as long as 50 days
5. Access to the airport lounge for free
6. Earn four reward points for each Rs. 150 spent
7. 2.2% markup on foreign currency expenditures
8. Dining benefits at the 2000+ restaurants that are part of our partner network
9. Bonus reward points are a way to earn milestone rewards

Advantages of a Low-Interest Credit Card

A credit card with a low-interest rate comes with lower expenses because the interest payments are low. We will look at the additional benefits of a low-interest credit card.

• If you decide to carry your balance forward, you do not need to pay high interest. But, it is essential to pay your bills promptly and not need to pay interest at all.
• You can settle high-interest debts by making use of a low-interest debit card.

Disadvantages of a Low-Interest Credit Card

While low-interest credit cards may appear appealing due to their interest rates, they can also come with disadvantages.

• Rewards and benefits are limited. The bonuses and rewards could be restricted because these cards already have low interest rates.
• For HNIs only, The cards that offer low-interest rates and unique offers are invitation-only and only available to premium customers.
• Charge an amount for the balance transfer. If you decide to transfer your current month’s credit to the following month, you’ll need to pay an amount for the balance.

Online application for a credit card through CreditMantri

The application process for a credit card through CreditMantri is a straightforward procedure that can be completed in just a couple of steps. Here is the step-by-step approach to apply.

Select the credit card you would like to apply to.

1. When selecting the card you’d like to apply, Click ‘Check Eligibility. (If you’d like more details about the card, click “Know More”).
2. You will be taken onto the page for application.
3. Input the basic information requested and then press submit. An OTP will be sent directly to the mobile number you have registered.
4. Enter this OTP to verify your identity.
5. Click on ‘view eligible Bank offers and then apply.’

Conclusion

It is always best to pay your debts in full, not just the required amount.