How You Can Save Money Using Your Credit Cards?
Hi guys,
Most of you must have owned one or two credit cards, and some of you might have more than 5 credit cards. The primary objective of having so many credit cards is to have more credit limits to fulfill all of your aspirations. But what if I tell you that you can save money with your credit card, you must be surprised. Right?
Before proceeding further, let me tell you that credit card loans are the costliest of all the loans and you might have to pay around 30% of interest if you do not pay the full amount on the specified date.
However, if you know how to use it wisely, then you can reap ample benefits from it.
- 30 to 45 days credit loan
Every credit card company gives you an interest-free loan on every purchase for 30 to 45 days. For example, if your billing cycle is the first of every month, you made a purchase using a credit card on the 2nd, the bill will be generated on the 30th of the month, and you have to pay off the amount by the 15th of the next month.
If you pay the full amount, then you need not to pay a single penny in the form of interest. You can manage your cash flow better.
2. Improved credit score
If you pay 100% of the credit card bill, you will be able to improve your credit score. The credit agencies state that if you pay 100% of your credit card bill before the deadline, then you are considered as a good customer and consequently you will get other types of loans, say car loan, home loan, personal loan, etc, at lesser rate of interest
3. Reward points
Whenever you swipe a credit card or pay any bill through it, you get reward points in return. Once you are able to accumulate several reward points, then you can make several purchases, which can be shopping, food, travel, petrol, and payments.
Shopping
The best credit cards for shopping and details are listed below:
Flipkart Axis credit card
- 5% cash back on every purchase you make on Flipkart
- 4% cash back on Cleartrip purchases
- 1.5% cash back on every offline and online purchase
- Flipkart voucher of Rs 500 as a welcome gift when you receive the card.
- Annual fee of Rs 500
Amazon ICICI card
- 5% cash back (for Prime members) and 3% (for non-prime members) on every purchase on Amazon
- 5% cash back on flight and hotel bookings
- 2% on Amazon giftcards
- 2% on Amazon Pay spends
- 1% on every spend
- No annual fee and no joining fees
SBI cashback card
- 5% cash back on every purchase to the maximum limit of Rs 5,000 per month
- Annual Fee Rs 999 + GST
HDFC Tata Neu Card plus
- 7% cashback on purchase through the Tata Neu app
- 2% Neu coins
- 5% on Neu pass
- No joining fees
- Annual fee is Rs 499 + GST (which can be waived off if you make a purchase of more than Rs 1 lac in a year)
Food
HDFC Swiggy Card
- 10% cash back on all purchases on Swiggy (food ordering, instamart, dineout, and genie)
- 3 months free membership on Swiggy One
- 5% cashback on numerous other online retailers
- 1% cashback on all spends
- Annual fee are Rs 500 + GST (which can be waived off if you make a purchase of more than Rs 2 lacs in a year)
Axis Neo card
- 40% off on an order maximum of Rs 120 on Zomato, minimum order should be Rs 200. This offer can be availed twice a month.
- 5% off on utility bill payments, which can be made through Amazon pay. The maximum discount is Rs 150 per month. This offer can be availed once a month.
- 10% off on blinkit, the maximum discount is Rs 250, and the minimum order value is Rs 750. This offer can be availed once a month.
- 10% off on Myntra, on selected catalog
- Lifetime free card
Petrol
IDFC Power Plus Card
- 6.5% saving on HPCL petrol pumps
- 4% reward points
- 1.5% happy coins on the HP pay app
- 1% fuel surcharge waive off
- 5% savings on transactions related to grocery utility
- 5% savings on fastag recharge
- Within 30 days of card setup, you will get Rs 500 cashback if you spend minimum Rs 500 on fuel.
- Rs 150 discount on Swiggy for a minimum order of Rs 500
- Annual fee is Rs 499 + GST (which can be waived off if you make a purchase of more than Rs 1.5 lacs in a year)
HDFC Indian Oil Card
- 5% savings in the form of fuel points on the purchase of fuel
- 5% fuel points on the bill payment of grocery or utility, maximum fuel points 100 per month
- 250 fuel points can be earned in first 6 months and after that maximum limit is 150
- 1 fuel point for every purchase of 150 and 1 fuel point is equal to Rs 0.96
- Annual fee is Rs 500 + GST
Axis Indian Oil card
- 4% savings in the form of reward point on the purchase of fuel
- 1% fuel surcharge waive off
- Annual fee is Rs 500 + GST (which can be waived off if you make a purchase of more than Rs 50,000 in a year)
SBI BPCL Card
- 4.25% value back on the purchase of fuel
- 3.25% reward points
- 1% fuel surcharge waive off
- 2000 bonus points on the activation of card
Payments
Standard Chartered smart card
- 2% cashback on every online purchase, which can be insurance, school fees, etc, maximum cashback of Rs 1000 per month
- 1% cashback on offline purchase maximum cash back Rs 500 per month
- No cashback on fuel
- Annual fee is Rs 499 + GST (which can be waived off if you make a purchase of more than Rs 1.2 lacs in a year or Rs 10,000 each month)
Travel
Standard Chartered EaseMyTrip card
- 20% discount on hotel booking through sites like MakeMyTrip, etc, maximum of Rs 5000
- 10% discount on flight bookings, maximum of Rs 1000 on domestic bookings and Rs 5000 on international bookings
- 2.5% cash back on every purchase on travel sites
- Annual fee is Rs 359 + GST (which can be waived off if you make a purchase of more than Rs 50,000 in a year
Ixigo AU credit card
- 10% off on flight bookings
- No payment gateway charges for train bookings
- 10% discount on hotel booking with maximum of Rs 1000
- 10% off on buses and hotel bookings
- No joining fee and no renewal free
Disclaimer: The post does not recommend the use of credit cards. It is solely for an educational purpose.
Read more articles,
Follow for more updates
Follow Raveen Chawla on Medium
For related searches, click Articles, click Web-stories
