A major benefit of owning a credit card is the access to immediate liquidity. However, there are several other benefits that a credit card brings, which if utilized strategically can help you save a lot of money. This includes frequent flier miles or free dinners at your favourite restaurant. Here are seven ways to save money using credit cards:
Exclusive shopping benefits
Be a smart shopper. Many credit card issuers have tie-ups with e-commerce websites and store outlets to provide you good deals and discounts.
For instance, Bajaj Finserv offers discounts and exciting EMI offers on purchase of clothes, accessories, groceries and more at all Bajaj Finserv partner outlets with the Bajaj Finserv RBL Bank SuperCard.
One effective way to save money is by making use of balance transfers. Most credit card issuers allow you to transfer your current balance on a credit card to another credit card. You can transfer your balance to a credit card with a lower interest rate. This simple act of transfer will save you a significant amount of money on the high interest payments.
Own fewer cards
You should avoid having too many credit cards because owning too many will prevent you from optimizing rewards on any single card. Besides, having many cards may also encourage you to spend more than you should and overuse your credit.
Fund your travel
Are you someone who needs a little break from the routine nine-to-five? You can fulfill your travel goals with the help of travel rewards offered by certain credit cards. You can earn miles and points that can be redeemed for a free flight or a free hotel stay.
Reward points and discounts
Most credit cards offer the benefit of earning reward points on every transaction you make, which can be used to buy certain products or get discounts when redeemed.
With Bajaj Finserv RBL Bank SuperCard you can earn reward points on each transaction you make and reward points as a welcome gift. With each milestone you achieve, you get movie ticket discounts every month and enjoy many more benefits.
Pay your balance in full
While credit cards that offer rewards can be highly beneficial if you’re someone who makes optimum utilization of such benefits, they can offset the rewards if you don’t pay your balance in full.
Commit to a schedule and pay your balance in full each month to ensure that the benefit of the rewards is not being offset by interest payments.
Another thrifty way of saving money is by using a cashback credit card. Most credit cards will return 1-2% of your purchase amount when you buy products with cashback. These accumulated cash rewards will let you pay for almost everything from groceries to fancy dinner dates.
As you can tell, using a credit card means availing several benefits and saving on your regular expenses. Apply for a credit card with Bajaj Finserv and save a sizeable amount annually. To avail easy finance, check out our pre-approved loan offers that have a quick and easy application and approval process.