Introduction
Credit cards are a quick and easy way to make purchases, whether online or at brick-and-mortar stores. They offer a lot of convenience while also helping you build a credit history. With the increasing number of credit card options in the market, it can be challenging to choose the right one for you. In this article, we will compare two popular credit cards - SBI SimplyClick Credit Card and BoB Easy Credit Card.
BoB Easy Credit Card
The Bank of Baroda offers a credit card called the BoB Easy Credit Card. This card is aimed at people who are new to credit cards and want a simple and easy-to-use option. The BoB Easy Credit Card has a low annual fee and a less complicated application process. This card also offers various benefits, such as discounts on dining, shopping, and fuel, making it an attractive option for people who frequently use credit cards.
Annual Fees
When choosing a credit card, the annual fee is an essential factor to consider. The BoB Easy Credit Card has an annual fee of Rs.500, which is significantly lower than other credit cards available in the market. Additionally, this card does not have any joining or renewal fees, making it an attractive option for people who do not want to pay high fees.
On the other hand, the SBI SimplyClick Credit Card has an annual fee of Rs.499. While this fee is slightly lower than the BoB Easy Credit Card, it has a joining fee of Rs.499, making it a more expensive option overall.
Credit Limit
Another crucial factor to consider when choosing a credit card is the credit limit. The credit limit is the maximum amount of money you can spend using your credit card. This limit is determined by the bank based on various factors, such as your income, credit score, and repayment history.
The BoB Easy Credit Card has a credit limit of up to Rs.60,000, making it a suitable option for people who do not need a high credit limit. This card is aimed at people who are new to credit cards and may not have a high income or a good credit score.
The SBI SimplyClick Credit Card, on the other hand, offers a higher credit limit of up to Rs.1,00,000. This card is aimed at people who have a higher income and a good credit score. If you need a higher credit limit, the SBI SimplyClick Credit Card may be a better option for you.
Benefits
Both the BoB Easy Credit Card and SBI SimplyClick Credit Card offer various benefits to their users. The BoB Easy Credit Card offers discounts on dining, shopping, and fuel, making it an attractive option for people who frequently use their credit cards for these purchases. Additionally, this card comes with zero liability protection, which means that you are not liable for any fraudulent transactions made on your card.
The SBI SimplyClick Credit Card, on the other hand, offers benefits such as discounts on online shopping, travel bookings, and movie tickets. This card also offers reward points for every purchase made using the card, which can be redeemed for various rewards such as vouchers, merchandise, and air miles. Additionally, this card comes with contactless payment technology, enabling you to make payments without having to swipe or insert your card.
Conclusion
When choosing between the BoB Easy Credit Card and SBI SimplyClick Credit Card, it is essential to consider your requirements, such as your income, credit score, and usage. If you are new to credit cards and are looking for a simple and low-cost option, the BoB Easy Credit Card may be a better fit for you. On the other hand, if you need a higher credit limit and are looking for additional benefits such as reward points and contactless payments, the SBI SimplyClick Credit Card may be a better option. Ultimately, it is crucial to compare the features and benefits of each card carefully before making a decision.
