A rise in the number of credit card users in India has also made it necessary to explain the different types of interest rates and charges that can be levied on credit card bills. 

Furthermore, potential users need to learn how to choose a card with low credit card interest rates on them. The following considerations thus ensue.

• Types of interest rate: Interests are generally levied due to late bill clearances, with some institutions offering variable interest rates while others offer fixed rates on late payments. Although fixed rates are better for individuals with the risk of regular delay, others should opt for variable interest rates.
• Spending habits: Choosing a card according to spending habits allows a customer to avail additional discounts which reduce the bill amount, thus minimising the chances of late bill clearance.
• Offers on payment mode opted: Customers should also check if a financial institution offers their convenient mode of transaction. While this does not reduce the credit card interest rate, it helps with additional offers and discounts on bill payment.

Individuals should also consider applicable charges when applying for an increase in credit limit.

After selecting the right credit card, its application procedure, as mentioned below, takes only a few minutes.

1. Visit the official website of the card issuer.
2. Check eligibility of the credit card of choice.
3. Fill in personal and financial details in the online application form.
4. Submit the form to complete the application.

If applicants consider the RBL Bank Credit Card, they can even avail pre-approved offers which make the application procedure even faster. After completing the whole application process, users should also check their application status, especially if it is not confirmed within 24 hours.