anytime and anywhere. It’s easy to carry while travelling or shopping. But carrying loads of cash is unsafe and inconvenient. A credit card can even help manage a medical emergency when you aren’t ready with enough cash.
Now that you see the benefits of using plastic money, here are 4 credit card perks to optimise your user experience.
#1 – Low Interest Rate
Interest is charged when you can’t pay the amount spent using your credit card from the previous billing cycle.
It’s best to apply for a credit card with the lowest interest rate for the following reasons:
- It minimises the finance (interest) charges.
- With lower finance charges, you can clear your dues faster. This can help boost your credit score.
#2 – Anything ‘Free’ on Your Credit Card
It’s good to pick a credit card that excludes certain charges. Some of these cards are:
- Lifetime free credit card
It is a credit card with no annual fees for life! So, you never have to pay annual maintenance charges for using your card. Such a card often also lets you join and enjoy membership for free.
- Zero cash advance fees credit card
It offers interest-free cash withdrawals. So, whenever you use the card to draw cash, you aren’t charged.
- Zero over-the-limit fees credit card
It doesn’t charge you when you use the card for making transactions beyond the given credit limit.
#3 – Reward Points
Certain credit cards offer reward points for every rupee you spend using the cards. These rewards range from attractive gift vouchers to multiple offers on purchases.
Consider picking a credit card that offers the following extra benefits on rewards:
- Up to 10X credit points!
- The reward points don’t have a maximum limit.
- The rewards don’t expire so you need not worry about losing them!
- No redemption fees are charged for using the rewards.
- More reward points are offered on online card-related transactions than those offline. So, you can earn more rewards with super-fast card-based online shopping in the comfort and safety of your home.
#4 – Offers at Partner Merchants
Some credit cards are tied to various categories of merchants. Such a card lets you enjoy unlimited offers at partner merchants even if you haven’t used the card ever. The same benefits come with a classic credit card.
You can opt for these cards to get:
- Lifestyle benefits
These include discounts on movies, dining, shopping, a complimentary round of golf each month, and more!
- Travel benefits
These include discounted hotel bookings and complimentary airport and railway lounge access on the credit card!
- Other benefits
These include several deals at health and wellness outlets, in-app online discounts, and more!
You can also do your bit to maximise the benefits of using credit cards. Pay all dues in full on time. Read the terms and conditions of the card documents carefully. Once you’re aware of your card’s features and benefits, you can use them the best way!
Smriti Jain is the owner and senior content publisher at Financesmarti. Financesmarti is a website where she shares a lot of useful stuff for the people and business of India. This includes small business ideas and other banking information, as well. Smriti completed her education in science & technology from Delhi University. Smriti usually has interests in digital marketing now, and she has chosen this career for the full-time opportunity. The primary purpose of starting this blog to provide quality information on the banking industry to the people.