Smart tips to use your credit card online and offline to save money
The number of borrowers opting for their first credit card witnessed 3-times increase in the last 4 years. The reason this increased switch can be accredited to several factors, including user-intrinsic features like instant transactions and money-saving benefits that accompany these payment cards.
However, carrying just an idea about the features and benefits is not enough to maximise the utility of one’s credit card. Users need to adopt effective strategies that will help them to derive maximum benefits out of their online credit card transactions and will enable them to save more, both online and offline.
Tips to save on credit card transactions
These following are some useful tips to save more on online as well as offline credit card transactions –
- Use cashback cards
Essentially, cashback cards allow users to accumulate cash rewards on their credit card expenses. Typically, each type of cashback credit card offers rewards on specific types of expenses like – fuel charge, groceries bill, mobile recharge, flight and railway tickets, etc. It is recommended that individuals select a credit card based on their spending habit so that they can save more on their everyday expenses.
- Pay off utility bills online
Individuals should also consider paying off monthly utility bills and making other small purchases through their credit card. Doing so, they will benefit in more than one way. For instance, small transactions made through credit cards are easy to pay off later and tend to help improve credit score significantly.
Furthermore, such transactions prove useful in earning reward points and bonuses and help save more. Nevertheless, users must become familiar with the types of credit card frauds and learn how they can avoid them to ensure safer online transactions.
- Choose a card that comes with a sign-up reward
Individuals should opt for credit cards that offer substantial reward points on signing-up and also provide users with ample opportunities to earn accelerated reward points. Users can save substantially on their future transactions by redeeming their accumulated points. Nonetheless, they should find out the different things they can do with their credit card reward points to maximise savings as and when possible.
- Shop from partner stores
When credit card users shop from stores that have partnered up with the credit card provider, they are more likely to enjoy attractive discounts and bonuses on their purchases. It directly helps users to save more on their transactions by offering attractive discounts and EMI options. They also provide them with the opportunity to win attractive prizes and cash backs on their online credit card transactions.
- Avail a credit card exclusive membership
Several leading credit card providers offer exclusive privileges to their customers. For instance payment cards come with exclusive benefits for users. Such benefits often range from extending cashback on purchases to using accumulated reward points to pay for purchases.
They also provide customers with attractive pre-approved offers which help to make the process of availing credit less cumbersome. Mostly such offers accompany financial products like credit cards, personal loans, business loans, etc. Check your pre-approved offer only by entering your name and contact information.
- Pay dues in time and in full
One of the most potent ways to save on unwanted credit card interests is through making credit card bill payment in time. Though one may feel inclined to pay off the minimum amount due to avoid paying interest, they should try to pay their credit card debt in full to avoid default and other late payment charges.
Besides these, individuals should look for cards that come with a low rate of interest and also provide several rewards and benefits on online credit card transactions. Also, they should try to avoid reward cards as they often come with higher interest rates and stringent terms of payment.
Tips to save more on credit card transactions
In the last 4 years, the number of first-time credit card users has increased by 3 times. The reason behind this growing popularity can be credited to factors like user-centric features and better scope of saving money on transactions. Nevertheless, to benefit from such features, users need to adopt effective strategies that will help them to maximise their utility through each online credit card transaction as well as the offline ones.
These following highlight a few of such useful tips and strategies –
- Selecting a cashback credit card allows users to accumulate cash rewards on their card transactions. In most cases, each of such cards extends rewards to cardholders on specific spending like paying groceries bill, mobile recharge, booking a flight or railway tickets, fuel charge, etc.
- Financial experts often recommend individuals to select a credit card based on their spending habits to avail the opportunities to save more on every transaction.
- Also, paying off small utility bills is a robust strategy of improving credit score and reaching credit card milestones quickly. Resultantly, card users can earn attractive discounts and bonuses and will be able to save more.
- Likewise, picking a credit card that comes with substantial reward points as a welcome bonus and offers multiple opportunities to earn accelerated reward points proves beneficial in saving more on future transactions.
Also, credit cards come with exclusive member privileges like cashback on down payments and use of accumulated reward points to make transactions facilitate more savings.
Other than these, shopping from credit card partner outlets and paying credit card bills on time and in full help to save significantly over time.