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#FinancialBytes: Credit-card tips, hacks to save money as you spend

Ramya Patelkhana


#FinancialBytes: Credit-card tips, hacks to save money as you spend

14 Apr 2019: #FinancialBytes: Credit-card tips, hacks to save money as you spend

Credit cards have become an essential part of our lives today and are one of the widely-used payment methods for cashless transactions.

When used wisely, credit cards can also help the cardholders save some money by earning rewards and availing discounts and cashback offers even as they spend.

Here are some tips and hacks to save while spending using credit cards.

#1: Use credit cards for monthly bills, shopping, dining, fuel purchases

Instead of debit cards or cash, one can use their credit cards to pay monthly bills regularly. This will help them accumulate substantial reward points and avail some cashback/discount offers.

They also earn reward points for online shopping, offline purchases, telecom expenses, hotels/dining expenses, fuel purchases, cabs, airline/travel tickets, etc. Cardholders can redeem accumulated points for gift vouchers or discounts and save money.

Fact: #2: Get specialized credit cards as per spending habits

To save money while spending using credit cards, it's extremely important to analyze their spending habits and choose the right credit card. Depending on what accounts for the majority of their expenses, one can choose specialized credit cards for travel cards, shopping/rewards, or fuel purchases.

#3: Having more than one card can be beneficial

While maintaining too many credit cards can be a hassle and increase one's financial burden, having more than one credit card could be beneficial for the cardholder.

One can choose 2 or 3 types of specialized credit cards as per their spending habits; this will help them maximize credit card benefits and save money as they spend.

#4: Keep checking for credit card offers on shopping

Credit cards are the preferred payment option for many when it comes to online as well as offline shopping. Credit cards allow customers to avail discounts or cashback offers and save money.

Almost all banks tie up with leading e-commerce portals or offline merchants to offer exclusive offers, additional discounts, cashback, etc. One should keep checking for credit card offers and save money.

Fact: #5: Avail travel offers, restaurant deals, free movie tickets

Most credit cards provide offers for transactions at leading restaurants, travel companies, hotels, lifestyle stores, cab providers etc. Cardholders can save as they spend by availing such deals/discounts. They can also avail exclusive discounts on movie ticket purchases, including free tickets, BOGO offers, and vouchers.