Smart ways to take advantage and Must know benefits of a credit card

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There are currently over 52 million credit card users in India, but the percentage of people who use their credit cards to their full potential is much, much lesser than that. In fact, there are people who are not even aware of some of the benefits that their credit cards come with as those benefits lie unused. To make sure this doesn’t happen in the future, read on to know what all you can do with your credit card.

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1.Strong Buyer Protection

Buyer Protection is a major reason why a lot of people choose credit cards over debit cards. In case you’re not aware, most credit cards provide serious protection against fraud. If there’s an item that you ordered using your credit card, and it did not reach you, you can very well ask the credit card company to raise a dispute against the transaction. These “chargebacks” requested by the customer are exclusive to only credit cards. Additionally, credit cards also offer protection in the form of insurance for card purchases that might be lost, damaged or stolen.

2.Credit Score Boosts

With credit card purchases, you can efficiently build up your line of credit. Every time you use your credit card to make a purchase, companies like CIBIL (Credit Information Bureau India Limited) give you individual scores. If you pay your credit card bills punctually for a good span of time, it’s very likely that your entire credit profile will get a boost. That will, in turn, make you eligible for further loans in the future.
 
3.Cashbacks and Discounts

Having a credit card can help you save a lot of money on your purchases. A lot of credit cards offer mouth-watering discounts on flight tickets that can make your air travel less expensive. There are also discounts on movie tickets, and you also get exclusive entry passes to members-only golf clubs. The Bajaj Finserv RBL Bank SuperCard, for instance, offers 5% cashback on the down payment, when you buy a product from the Bajaj Finserv EMI Network partner stores.

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Not just discounts on flight tickets, but you can also earn air miles by using your credit cards. Those air miles can very well accumulate into a whole free ticket that can be redeemed for a free flight to any part of the world!

4.Reward points

Regular users of credit cards also get awarded reward points for every fixed amount of money they spend. Most credit cards provide a fixed number of reward points for every Rs. 100 or Rs. 200 spent.

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If we take RBL as an example, RBL credit cards apply attractive double bonuses on weekends sometimes. But the big question in your mind might still be: “How to use RBLl credit card reward points?”. Not just RBL, but most credit card issuers allow you to redeem your points through vouchers, movie tickets, and air tickets. RBL has partner airlines like SpiceJet and Air India, where one can redeem accrued points for flight tickets. People can also use their accumulated credit points to recharge their mobile phones. RBL Bank credit card holders can further redeem accrued rewards points for vouchers from various segments like dining, entertainment, and lifestyle.

 

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5.Recurring payments made easy

With credit cards, it’s not just the big payments that are made easier. You can also configure your credit card to make recurring payments for your mobile, electricity, or gas bills. This way, there is absolutely no chance of missing out on paying these bills and thus face harassment like penalties, disconnections, etc.
6.No-cash payments

With owning a credit card, the hassles of carrying cash everywhere is gone. Credit cards are easy to carry and can be used to make any number of payments, given that it doesn’t cross your credit limit. You can even link your card to your digital wallet, which can allow you to just scan and pay without even having to carry the card yourself.

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