A credit card is a valuable financial tool that ensures fast, safe and convenient payments. Over time, it also helps you build credit. However, with the right credit card, you can do even more. Get deals and discounts on dining, shopping, travel, and petrol. Here are a few ways your credit card can help you save money.
Rewards programs
A rewards credit card will typically earn you entry into a rewards program offered by the credit card issuer or a partner company. Rewards programs vary from one card to the next, but most of them enable cardmembers to earn reward points on eligible transactions like online grocery, online or in-store shopping purchases, food delivery, travel expenses, dining, bill payments, fuel, etc. Cardmembers can usually redeem their reward points from a wide range of merchandise, convert points to cash rebates or use points to offset and pay for your purchases.
Cashback programs
A cash back credit card grants cardholders a rebate on eligible transactions, including grocery purchases, fuel purchases, shopping and dining. Earned cash back may be credited to your account at the end of your billing cycle or you may have the option to pay for purchases with cash back points. Your credit card may even offer you bonus cash back rates in certain categories or if you have a savings account with the bank. Enjoy the convenience of redeeming your cash back on-the-go through your mobile. Familiarising with the cash back program can help you maximise your cash back earnings.
Sign-up offers
Many credit cards offer sign-up bonuses or offers, where you can earn a significant amount of points or cash back after spending a certain amount within the first few months. This is a one-time offer that’s usually reserved for new cardmembers and may expire if the points or cash back are not used on time. Taking advantage of a sign-up bonus is a great way to save or earn money with your credit card in the first year.
Discounts and promotional offers
A credit card company may partner with retailers, dining establishments and ecommerce platforms to offer their cardmembers impressive discounts and savings on eligible purchases. These are usually instant discounts of up to 50% on select purchases. Cardmembers who track deals and shop smartly can save thousands of dollars every year.
Travel benefits
Travel credit cards feature a range of benefits designed to make travel more convenient and enjoyable for cardmembers. Some cards allow cardholders to earn miles on eligible purchases. Miles usually function similarly to reward points and can be redeemed against travel purchases like airfare, accommodation, dining, etc. Travel cards may also offer perks like complimentary access to airport lounges and accelerated miles on online travel bookings, which can save you money on travel expenses. Some cards include travel insurance, which can come in handy if your baggage is lost in transit or delayed.
Different credit cards may offer a range of ways to help consumers to save money and earn rebates. However, it’s important to use your card responsibly to ensure you get the maximum benefit. Don’t forget to consider any fees or charges associated with your credit card (such as annual fees) to get a full picture of your true credit card savings. Lastly, ensure you keep your account in good standing so you can continue to enjoy these benefits.
Notice:
Opinions, analyses, reviews, or recommendations expressed in this article are those of the select editorial staff alone and have not been reviewed, approved, or otherwise endorsed by any third party.
Contact Information:
Name: Sonakshi Murze
Email: Sonakshi.murze@iquanti.com
Job Title: Manager
SOURCE: iQuanti
