There are some hidden tricks and tips to becoming a successful cardholder and have the benefits of using credit card.

Tips to be a successful cardholder

Credit Cards are every shopper’s best friend, but one has to wait to get their possession till they reach 18 years of age. The system is not just restricted to buying accessories on loan and then paying the amount at the end of the billing month. There are some hidden tricks and tips to becoming a successful cardholder and have the benefits of using credit card. Be safe while shopping and maximise your savings by implementing these credit card using tips.

Click here to read How credit card interest is calculated.

Credit Card Benefits

  • Conversion of the total amount of money to pocket-friendly EMIs to pay back later
  • Most acceptable and widely used payment method
  • Lots of Reward points 
  • Discounts and Cashbacks on future purchases

Do you know about these 5 Best credit card management apps in India? 

6 Tips to be a successful cardholder

A new set of guidelines issued by RBI for Indian credit cardholders have been in effect from July 1, 2022. Pay your credit card bills to not pay for the heavy interest charged. Every credit card company has one or the other benefits for its users, some of which are listed below.

  • Make wise use of Credit Card Welcome Bonus

Credit Card companies give a sign-up bonus on registering for a new credit card. This bonus includes coupons and discounts for travelling, hotels, a statement credit, cash back, or some reward points. 

  • ​Keep track of the cashback offers and other seasonal discounts

Who does not love discounts and extra money? Improvise your money-saving technique by using the best cashback rates. 

  • Have your virtual credit card with you

Online Shoppers are often at risk of getting hacked or scammed. Companies give a unique 16-digit card number, CVV, and the expiration date of the credit card. All you need to do is fill in those details instead of your real credit card details. 

  • Travel-related insurance for purchasing tickets

A cancelled or missed flight costs a loss of thousands; what if you can get some compensation back when booking tickets using credit cards? Some credit cards offer travel, flight, hotel and other travel-related insurance benefits like baggage insurance, compensation for missed delays, travel protection, and travel cancellation insurance. 

  • Know about the Purchase Protection against damage and theft 

Within a period of 90-120 days, you can have Purchase Protection against the damaged product or the lost possession that you ordered using your credit card. So next time you lose a gift or the long-awaited wishlist item, remember to claim your Purchase Protection.

  • Do not cross your credit card usage limit, and set a reminder to pay off your monthly credit card bill on time to avoid high interests.