snehsharma Credit card deals help you save on:
- Shopping
- Paying bills
- Travel expenses
- Earning more points
By using them to the fullest, you can save while you swipe. All you need to do is consider your finances, spending patterns, and the specifications of the deals and rewards.
Select a credit card that has features and benefits that align with your requirements. Comparing credit cards deals gives you a clear picture, allowing you to get the maximum advantage by following these simple tips.
Adjust Your Purchases According To Your Billing Cycle
By timing your purchases smartly, you can enjoy a longer interest-free period. If you make big purchases at the start of the billing cycle, you can enjoy the interest-free period to the maximum extent.
For instance:
Your card offers you an interest-free period of 45 days. If your billing cycle starts on March 1 and ends on March 29, 2024, make your big purchase on March 2 instead of March 28. This helps you enjoy a longer interest-free period.
Each Month Pay Your Bill In Full
It is always wise to plan ahead and pay your credit card bills on time. Card issuers charge a high interest on overdue balances, and consistent delays in payment can result in debt accumulation. This behaviour affects your credit score negatively.
It lowers your creditworthiness, hindering you in getting loans or credit in the future. When using a card, prioritise timely payment so that you can enjoy all its rewards and benefits while avoiding interest charges.
Utilise Your Welcome Bonus
Most credit card issuers provide a lucrative welcome bonus, also known as a sign-up bonus. It typically requires you to spend a specific amount of money right after getting the card. You may receive it in the form of additional reward points, a shopping voucher, or a gift (such as a watch).
Make sure that you know what it is and fulfil the requirements to get this bonus. This way, you can benefit from extra savings or rewards.
Claim All The Perks And Benefits Your Card Offers
Both milestone bonuses and discounts help you save more when using your card. Here are some practices you can follow to capitalise on both:
- Check the spending threshold you need to cross in an anniversary year/quarter and use your card smartly to get milestone bonuses
- Use the mobile app or emails sent by the issuer to check the latest offers that are relevant to your purchasing habits
- Remember that credit card deals with various partners change over time, so use them before they expire
- Make sure you are not spending to get bonuses but utilising these perks responsibly
Read Up on Rewards and Utilise Them Well
Every card has its own rewards program and knowing it inside out can help you gain more. For instance:
- Say your card offers 2 reward points for every Rs.150 you spend on groceries
- This may not apply to all grocery retailers
- This may be limited to a certain number of points per transaction
- This may require your bill amount to be between a specific range
Knowing these details can help you tailor your purchases to get the most out of your card.
Here are some pointers to keep in mind:
- Ensure you learn about the reward points redemption process
- Make sure you redeem points at the appropriate time and before they expire
- Figure out if you can redeem points against flight bookings, hotel stays, and more and plan your redemption in advance
- See if there is a reward redemption fee and factor it in
Be Aware Of Your Credit Score
Missed and delayed credit card payments can pull your creditworthiness down. So, pay on time.
Also remember that despite a high credit limit, you should spend according to your needs and requirements. Avoid overspending to keep your score high when using a card.
Your credit utilisation ratio can also affect your score. Try not to spend more than 30% of your total credit limit to maintain a low credit utilization ratio. This will help you use your card effectively and boost or maintain your score too.
Use Credit Card Facilities With Care
Apart from interest, credit cards have a cost associated with various features, such as:
- EMI conversion fee when you opt for the EMI facility
- Cash advance fee and interest when you withdraw cash from an ATM
- Balance transfer fee when you make credit card bill payments through credit cards
- Late payment fee when you do not pay even the minimum amount due by the payment date
- Forex fees on using your card overseas
Keep all these charges in mind and only utilise them if they are affordable or when you really need to. By paying bills on time and not overspending, you can use your card without any additional fees.
Using a credit card safely and smartly by following a strategy allows you to maximise your savings. The One Credit Card makes this easier as you can set your own spending limit on its full-stack app. The One Credit Card App sends you a notification every time you get close to the limit so you can use your card more confidently.
What’s more, you can get excellent credit card deals on dining, travel, shopping and more with this stylish credit card. You can also earn 5X reward points, redeem them on the mobile app, and pay zero annual and joining fees to maximise your benefits. Apply now to enjoy all this and more.
