Is Itchgaurd, Effective For Rashes?

Dear Dr,I have a circular bumpy red rash on my inner thigh which is he size of a pea .... it looks like a ringworm infection. It started with a tiny red bump 4 days back..i had applied itchguard yesterday but today i changed to ring guard. is it the right ointment to apply and how long will it take to heal?