When it comes to credit cards, there is no single "best card" for everyone. A card that offers immense value to a frequent flyer might be useless to someone who spends most of their budget on groceries and utility bills.
1. Analyze Your Spending
The foundation of a good credit card strategy is knowing where your money goes. Look at your last three months of statements. Are you spending primarily on:
- Online shopping (Amazon, Flipkart, etc.)
- Offline groceries and dining
- Fuel
- Travel and flights
- Rent, insurance, and utilities
2. Match Rewards to Your Habits
Once you know your top spending categories, look for cards that offer accelerated rewards in those specific areas. For example, if you spend ₹20,000 a month on online shopping, a card offering 5% cashback on all online spends will yield far more value than a travel card offering lounge access you rarely use.
3. Factor in Fees
A card with a ₹5,000 annual fee isn't necessarily bad if it gives you ₹15,000 in value. But you must do the math. Ensure your projected rewards minus the annual fee (and GST) still leaves you with a positive Net Annual Value.
Conclusion
A high generic card score does not automatically mean the card is the best fit. Your spending pattern dictates the true value.