Best Credit Card Hacks

Credit Card Hacks

Image source: https://bettercreditblog.org/never-pay-credit-card-interest/

This is a guest post by Syed Faraz

A credit card is a form of plastic money that is issued by almost all banks to their customers to pay for various services and products. With a credit card, you will have a credit limit per month and at the end of every month, the total amount must be paid back to the bank with interest. A credit card has several advantages which most people do not understand or do not use. Most credit cards offer a wide range of offers on food, travel, dining, and as well as reward points on every transaction you make. You, as a credit cardholder, will also be entitled to cashback rewards, gift cards, travel discounts, etc.

To understand how the offers and rewards of the credit card work, you must know the types of credit cards available and offers by the banks. Along with this, you must also know the terms and conditions which come with every credit card. Using a credit card requires a number of hacks which you must be aware of in order to get the best offers and make use of all the benefits.

Here are some of the best credit card hacks:

Always check for Discounts and Rewards

When you own a credit card, there are several benefits and rewards you are entitled to when you make any kind of a transaction with the card. It is important to keep a check on those rewards and benefits and make use of them whenever possible. It is also important to know what type of credit card you hold or have applied for in order to receive specific rewards and benefits.

It is not advisable to use one credit card for all kinds of purchases you make in a month. For example, there are specific credit cards that offer benefits and rewards on your travel purchases and hotel bookings or a credit card which solely offers benefits for every transaction made for fuel purchases. If you use only one credit card for all types of purchases, you will lose out on the various benefits and points you were eligible to receive.

Keep a track of the offer period

Many offers on your credit cards are not always on a permanent basis. Some of the offers might be for a limited period only. It is advisable to keep a check on the offers which are available to you on your credit card. By doing so, you will know when offers are expiring and you can make the most of it during their validity.

Online Shopping Portals

Most credit cards offered by major banks in the country have dedicated offers and benefits when it comes to shopping online. Ranging from low-interest EMIs available for certain products as well as longer tenure options, the credit cards enable you to buy the product you wish to while offering a wide range of options when it comes to repayment.

Major e-commerce websites such as Amazon, Flipkart, Jabong, etc. offer a wide range of discounts on credit cards for a limited period of time at regular intervals. It is advised to keep a regular check on the bank’s website for the offers available on the credit card you own and avail of it. It might not always feature on the shopping websites. You get to save a lot and shop more with a credit card.

Keeping Track of your Due Date

Owning a credit card also means keeping regular track of the due date. It is important to keep the due date of each credit card you own and manage your finances for the month appropriately. Most credit card bills are generated within the last week of the month and the bill is to be paid by the first week of the upcoming month.

In order to save yourself from a more expensive credit card bill, it is advised to limit purchasing items that are of higher value. For example, if you wish to buy a phone in the last week of the month, it is better to delay it and purchase it after the credit card bill for the month is sent to you. In that way, the bill amount is not high, and you will not be required to pay the purchase amount of the phone in full immediately. If you buy it after the due date, the credit purchase will be added to your next month’s bill amount and you will have one month’s time to pay it back.

Check Annual Fee of Credit Card

Most credit cards charge annual fees, especially the ones which offer more reward points and benefits. However, just because the annual fees are high, doesn’t mean that you don’t take the card. Many times, for a nominal annual fee, the benefits and reward points which you are eligible to get is much higher, in that case, opting for a credit card that has an annual fee is a good option.

Purchase Gift Cards

Another credit card hack that is useful to many people is the purchase of gift cards. On various occasions such as birthdays, anniversaries, etc. A gift needs to be given. You can redeem the points which you have earned on your credit card to purchase a gift card from various e-commerce websites such as Amazon or even purchase them from the retail stores of popular brands. You can save money by doing this and in some instances, earn cashback as well. It is one of the popular ways by which most people are able to save money by getting gift cards against earned points as well as earning discounts on them with the cashback offers.

Opt for Travel Credit Cards

If you are a frequent traveller, it is advisable to opt for a travel credit card as the travelling benefits and reward points offered are more when compared to other types of credit cards. Along with that, with a travel credit card, you will also be offered a wide range of benefits and reward points on hotel reservations and access to various airport lounges all over the country and the world. However, most importantly, any kind of flight bookings done with a travel credit card will get you flight miles which can be accumulated and redeemed for flight tickets as well.

Here are some of the credit card hacks which can prove to be useful if you have a credit card. However, you can call the customer care number or visit the website of the bank of your credit card in order to know more in detail about the reward points and benefits of the card you have taken.