Tips to make the most of your shopping credit card

The use of payment tools like credit cards has projected an exponential increase, thanks to the innovative features introduced for customers. Using a credit card for purchases made over the e-commerce platform or otherwise has thus become increasingly popular. While some of these credit tools make for an easy way to withdraw cash from an ATM at no cost, when making bill payments at restaurants, grocery stores, petrol pumps, etc., shopping credit cards will help you to save a substantial amount of money.

With attractive cashback offers, huge discounts and other perks, you may finally be able to indulge in your extravagant shopping needs with the best credit card for online shopping as well as offline payments. There are a wide variety of shopping credit cards to choose from. However, if you seek to get the most out of a shopping credit card, few aspects need to be kept in mind.

How to make the most out of a shopping credit card?

These are specialised credit cards that extend a host of features with rewards at every instance of shopping. The reward programs are designed in such a manner that every time the credit card is swiped or used for transaction, the user earns accelerated points. These points can be redeemed for further shopping at various outlets.

Here are some of the criteria that you must note when utilising a shopping credit card to maximise benefits –

• Look for accelerated reward points on select purchases

Quite similar to other credit cards, the shopping card also offers reward points, but for shopping purposes, such benefits are accelerated. Such a program of reward points varies with different credit card companies. It also depends on the amount used for shopping.

For instance, swiping the Bajaj Finserv RBL Bank SuperCard at its partner outlets to purchase accessories, clothes, or even groceries will fetch attractive discounts. It would also accumulate reward points when reaching spending thresholds. Among the best credit cards for online shopping best tools, these payment tools also bring earning opportunities of up to 20,000 reward points as a welcome gift.

• Check the charges and fees involved

Before you consider applying for a credit card for shopping purposes specifically, be clear about the charges and fees involved. While a shopping credit card may provide lucrative offers and attractive benefits, its annual fees, joining fees, renewal fees, and a myriad of other charges can be particularly high. It is crucial to keep in mind that those fees and charges must not outweigh the reward points or benefits so provided.

• Keep track of your spending pattern

Your choice of a shopping credit card must be consistent with your spending pattern. If every now and then you are known to go on a shopping spree online, the best credit card for online shopping would be one with features like accelerated reward points, discounts, and cashbacks offered on digital payments. Whenever online shopping is done using the credit card, the reward points thus increase.

• Payment pattern

It is common prudence to take note of the repayment history before one looks to apply for a credit card. It is absolutely imperative to repay credit card dues well within time in order to avoid accumulating interest and penalty charges.

The takeaway is to not opt for a credit card that extends multiple rewards for shopping but at the same time charges a steep rate of interest. Such interest rate would wipe out any benefit that the cardholder may have derived. Ideally, the best credit card for online shopping should offer good perks as well as the best rate of interest.

• Cashback option

Utilise the cashback option for every spending that may be done with the shopping credit card. Such cashbacks could be on varied payments such as utility bills, movie tickets, etc. Selecting payments with the best cashbacks helps save more on future purchases.

• Make the most of your credit card privileges

Most of the sought-after shopping credit cards would include a host of membership privileges. It may range from dinner privileges at partner restaurants to EMI privileges on big-ticket purchases. In the latter, one can convert credit card purchases into EMIs and pay affordably over an extended period.

To avail the best credit card for online shopping, compare the offers from different card issuers which are suited to your requirements. Financial institutions like Bajaj Finserv also provide pre-approved offers to make the application process easy and time-saving. These offers are available on a range of financial products, including credit cards, personal loans, and business loans. You can check your pre-approved offer by submitting basic details like name and contact number.

While there is a wide range of shopping credit cards available in the market today, be sure to choose the right credit card for yourself. The one most suited to your specific requirements can help enhance the benefits for increased savings over time.