Using a credit card not only gives you the convenience to purchase without cash seamlessly but also offers numerous benefits. At times, these benefits go unnoticed and you may lose out on great saving opportunities. To help you save time from we have listed some saving tips for your future card usage.
Cashback: Some cards offer cashback in categories like groceries, bill payments, travel, etc. This is one of the most attractive features that you can avail of on a credit card.
Reward points: You can earn reward points for shopping done through a credit card. There are also accelerated reward points on specified merchant categories, as per your card feature. Use them by redeeming against multiple options like brand vouchers, air miles, recharge, gifts, etc. The key is to collect reward points for the long term and redeem them at a later stage.
Lounge access: You can save and relax during travel (railway or flights) if your card offers complimentary lounge service with free refreshments along with other benefits.
EMI offers: Similar to merchant offers, many banks offer EMI options offering you a choice to shop at 'No Cost EMI'. Here, you get cash back or a discount for the interest amount that you pay to the bank. There's also additional cashback or discount.
Reward points redemption: Instant gratification is the best feeling. Look out for offers of instant payment using reward points. This allows you to reduce your monthly credit card payment burden.
Revolve responsibly: You should always pay your credit card dues on time. However, in case of unforeseen circumstances, if you have made a big expense and are unable to pay total dues, fret not. You can pay the minimum amount due on the card to avoid a penalty from the bank. You can revolve on your credit card to pay off dues, but always pay minimum dues in time and save on unnecessary penalties.
Merchant offers: Avail offers across marquee brands and merchants for shopping through your card. Many banks run these offers for shopping at online or offline partners. You can find such offers in the form of instant discounts while shopping. For example, discounts on food delivery orders, cash back for buying groceries, extra reward points for shopping at select merchants, etc. Always remember to look out for such deals while planning your shopping. These offers are listed either on bank website or in the offers section on e-commerce websites.
Other value-added Services: Your bank may also offer services like balance transfer and personal loan with lower interest rates or processing fee waivers. These may come in the form of pre-approved offers with special interest rates for select customers. These offers can be availed through app, call centre or other touch points offered by bank.
(Mayank Markanday is Head- Credit Card Business, AU Small Finance Bank)
