5 Tips to Pick a Second Credit Card

second or emergency credit card

The benefits of a credit card are too many! It allows you to carry out transactions anytime anywhere, finance high-value purchases, get shopping discounts and even earn plenty of rewards.

When you can enjoy so many benefits from one card, why need another? Well, the first credit card can help build your credit score. The second credit card can be handy if the first one gets lost, stolen or misplaced or stops working suddenly due to any technical problems when you are about to make an emergency transaction.

But a second card can act not only as an emergency credit card but also help you keep your CIBIL score high. For that, it must come with certain important features. These are the things you need to check when you pick another credit card. Here are 5 tips.

Check for a Balance Transfer Facility

If the second credit card comes with a balance transfer facility, it can help you keep your balance low on the first card. Whenever the balance is too high for you to pay off, you can transfer it from the first card to the second. Then you may find it easy to clear the reduced balance of your first card.

Look for a lower interest rate

This is a benefit you should always seek. When the interest is low, late payment charges will also be less. This can help reduce the overall dues and then you can clear them sooner and easily.

Go for a Higher Credit Limit

When you apply for a second card to get access to emergency credit, always try to get one with a higher credit limit. To finance an emergency, the credit limit of the first card may just not be enough. Getting another card automatically increases the overall credit limit. Still, if the assigned limit itself is higher, it may help you finance a big purchase too besides an emergency. Therefore, try to maintain a high CIBIL score so you can get approval for more credit.

Seek More Reward Points

Does your first card charge a reward redemption fee or set an expiry date for the credit points? Then consider applying for another card that does not charge you for redeeming the rewards points and offer them without any capping or expiry! You can use them anytime or even accumulate them for some significant savings.

Check for More Privileges

As your income increases over time, you may want to get a second credit card offering better privileges for a more luxurious lifestyle. Then choose a card that offers:

  • Great discounts on movies, dining and healthcare services
  • Plenty of in-app offers
  • 4 complimentary visits to domestic airport or railway lounges per quarter
  • Personal accident cover of ₹10,00,000 and air accident cover of ₹1,00,00,000
  • 5% cashback on the first EMI transaction within 90 days of having the card issued (without any capping of the cashback amount)
  • A lower foreign markup fee

Follow the above tips when you apply for a second or emergency credit card to optimise your experience of using it.

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