How a Credit Card Can Help You Save Money


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Credit cards have been around for a long time, yet their popularity only seems to soar with each passing day. All of this is primarily due to its consistent evolution over the years and its ability suit the needs and requirements of each cardholder. Whether it is travel, shopping, or entertainment, there’s a credit card for just about everyone. But, did you know having a credit card doesn’t just give you allow you to buy things, but also save lots of money? Here’s how:


  • Co-branded credit cards for better benefits

Reward points aren’t the only currency in the credit card world anymore. Co-branded credit cards, as you may already know, are offerings brought about by a partnership between the credit card company and a major service provider. For instance, take the HDFC Titanium Times Card, where HDFC Bank has partnered with Times Group to offer some amazing benefits on entertainment expenditures such as booking movies tickets and partnered restaurants. Another example is the Jet Airways ICICI Bank Sapphiro Credit Card which offers various discounts on purchases along with air miles for your spendings.

Basically, there’s a co-branded credit card for every type of user and all of which offer specific benefits for the cardholder that is otherwise available to them. One thing worth nothing here is that most co-branded cards offer very little in the form of benefits if you don’t transact with the co-brand partner.

  • Unbelievable deals on e-commerce sites

There’s a reason why e-commerce sites have been so rampant of late. Sites like Amazon, Flipkart, and several other like them have made shopping very accessible for the millennial population. Sensing an opportunity here credit card companies too have started offering deals and discounts on purchases through certain credit cards. If you have a card that already has an existing deal on one of the e-commerce sites, make sure to take advantage of that as you will save a lot of money by doing so.

For instance, if you are buying a top-end smartphone, there’s a definite chance you will get cashbacks for up to a certain amount. You will effectively bring down the purchase amount considerably by purchasing the device on a credit card.

  • Building your credit score

This is the only point where there is no direct monetary benefit for owning a credit card but the point is still worth a mention. To begin with, most of the millennial usually don’t have a major loan to repay but the importance of improving their credit score is just as necessary. This is because most lenders want loan applicants to have a credit score above 750 and as high as 900 and there is only one way to achieve that. This is through the regular use of a credit card and the timely clearance of dues within the stipulated period.

  • Rewards galore

Reward points are some of the best offerings you get from a credit card, if you know how to make use of them. Just about every card offers a reward point for every Rs.100 or so spent on their credit card. Some of them even allow using these reward points to clear off some of the outstanding balance on their card. So, if you develop a clear strategy on how to efficiently use your reward points, you will save a lot of money.

Just like any tool in the world, if used right, credit cards too can offer some amazing returns for you and help you save money as long as you use the tips mentioned here.

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