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Acceptability :- This determines how widely is the card accepted. It depends on the network and the affiliation. For instance, Visa and Master Cards are more widely accepted than Diners or American Express. Also, a global card scores higher on acceptability than a domestic one.

Eligibility :- All cards have basic minimum income criterion for issuing cards. This ranges from Rs.60,000 p.a. for Cancard and Stanchart-Classic to Rs. 200,000 p.a. for Amex-Gold and BoI Gold cards.

Fees :- One of the most important factors, the fees include joining fees, annual subscription and fees for add on cards. All these fees are billed in the first bill and are not charged upfront.

Other Charges :- Its always better to pay on time. Otherwise you pay charges for late payment. These are only in case you do not pay the minimum required amount. Late payment charges range from 2.5% of outstanding to 15% of minimum payment.

Credit period :- That’s what its all about! Buy now pay later. Most cards have different credit periods ranging from 30 days to 50 days. That is the length of the billing cycle. This implies that the bill comes to you every nth day where n is the credit period. Also, credit covers finance charges. Most cards carry heavy credit charges ranging from 2.5% per month to 3% p.m.- works out to 34% and 42% p.a. respectively. There is a minimum payment required by most cards – from 5% of total value of the bill to 20%.

Cash Advance :- You can also borrow money from the card, but obviously pay interest charges on that. You also have to pay cash withdrawal charges – generally 2.5% of the amount withdrawn. Interest is also charged on the amount withdrawn – again around 2.5% p.m. Every card has a limit for the amount withdrawn – some cards have an absolute limit like Rs10,000 p.m. while most cards have a cash withdrawal limit as a %age of total credit limit.

Insurance Cover :- Insurance cover on cards is available only in the case of an accident. The limits are higher for air accidents than for other types.