People often carry multiple credit cards in order to earn reward points and avail discounts and cashback offers they indulge into splurging. Here are some hacks to save money while spending using credit card
New Delhi: With increasing urbanization, people find shopping through credit cards quite convenient. People often carry multiple credit cards in order to earn reward points and avail discounts and cashback offers they indulge into splurging. These lead to a debt trap.
But if you use your credit card wisely, you can actually save a lot of money. Given below are some tips to save your money while doing a transaction using credit cards
Here are some hacks on how to save money while spending using credit cards-
Instead of using a debit card or cash for paying monthly bills, shopping, dining or for fuel purchases. Try using a credit card to pay monthly bills on time this will help you to earn reward points. It enables you to avail discount and cashback offers. You can earn reward points on online and offline shopping, utility expenses, hotel or dining expense, fuel purchase, cabs fare, travel tickets, etc. You can redeem your reward points for discounts and save money.
It is important to save money while spending using credit cards. Track your spendings and choose the right type of credit card. If you spend a major chunk in travel then choose travel card. There are certain specialized credit cards for shopping or fuel purchases. It helps to increase credit card benefits.
If you own multiple credit cards then they can be used as an alternative payment option. Most of the people prefer carrying cards to cash. If the point of sale (PoS) machine fails during the transaction then you can use another credit card to make payment.
While making online or offline purchases keep a tab on the credit card offers. It allows you to avail discounts and cashback offers. Most of the banks have a tie-up with the online portal and offline merchants. They give exclusive offers, additional discounts and cashbacks.
There are many credit cards that offer discounts or cashbacks while doing a transaction at restaurants, travel companies, hotels, cabs et. Apart from this, one can take advantage of a discount on movie ticket purchase. Many times they offer free tickets and vouchers