If you have heard it once, you have probably heard it a thousand times – credit cards, when used wisely, help promote financial flexibility. Now get ready for another saying. Credit cards, when used wisely, not only promote financial flexibility, but they also help you maximise your savings.
By using a credit card that complements your spending pattern, you will be able to maximise the rewards you earn. Moreover, when you apply for a credit card which offers a large welcome bonus, you start earning points or miles at a much faster rate.
Maximising your rewards leads to maximising your savings. And here is a list of cards you can consider if you are looking to maximize your savings:
Citi Cash Back Credit Card
Looking to save on your everyday spends? Consider applying for the Citi Cash Back Credit Card. With this card, you get 5% cashback on telephone bill payments, utility bill payments, and movie ticket purchases. You also get 0.5% cashback on all other spends.
Additionally, you can save up to 15% across participating restaurants.
With all the benefits that you get with this card, you can save up to Rs.3,300 each year.
SimplySAVE Advantage SBI Card
As the name suggests, this card helps you save. In an easy way.
This card lets you earn 10x rewards on your dining, grocery, and movie transactions. You also get 10x rewards when you use your card at departmental stores. All other spending gets you 1 point per Rs.100.
Additionally, when you sign-up for this card, you get Rs.100 cashback when you withdraw money from the ATM.
All of the points you earn can be accumulated and redeemed for a product of your choice. This way, all your spending give you enough points to buy something else.
So, it’s a situation wherein the more you shop, the more you get in return!
HDFC Diners Club Black
A premium credit card for those who are looking to enjoy the good life and save while doing so. The HDFC Diners Club Black gives you 5 Reward Points per Rs.150 that you spend. The best part is that there is no cap on the points you can earn.
What else do you get with this card?
Well, you can transfer your points to miles and use those miles to get yourself a free ticket. You can choose to transfer your miles to the following frequent flyer programmes:
- British Airways Executive Club (Avios)
- Singapore Airlines (KrisFlyer)
- Club Vistara
- Jet Privilege (JPMiles)
The value of 1 Reward Point is Rs.1, so this way, you are not losing out on anything when you decide to use your points to book air tickets or hotels stays.
Alternatively, you can also redeem your hdfc credit card reward points from an exclusive reward redemption catalog.
This card also comes with a host of lifestyle benefits like a 24/7 concierge service and the ability to enjoy complimentary green fees across the world. Add to this the complimentary air accident insurance coverage up to Rs.2 crore and you have a card that offers absolutely everything.
How does this help you save?
Well, put your travel expenses on your card and you don’t have to buy insurance. Use an airport lounge without paying (thanks to the complimentary airport lounge access you get with the card), tee-off at a golf course, fly to your favorite destination, and so much more – all without having to spend.
All you need to do is take care of paying your statement each month. The savings happen on their own.
BPCL SBI Card
If you have a vehicle of your own, you probably are already shelling out quite a bit on fuel. One way to counter that and save on your fuel expenses is to get a fuel credit card.
A fuel credit card you can consider is the BPCL SBI Card.
You get 4.25% value back on fuel purchases at BPCL petrol pumps. You also enjoy a fuel surcharge waiver of 3.25% + 1% on fuel transactions up to Rs.4,000. The maximum surcharge waiver per month is Rs.100. This is equivalent to annual savings of Rs.1,200.
In addition to all of this, you also earn reward points which can be redeemed for retail, lifestyle, and entertainment vouchers.
In fact, if you use this card well, you can save a total of Rs.4,432 each year. This amounts to around 70 liters of fuel annually. This is how much you can save with this card.
As you can see, when you use the right credit card and you use it well, you can save a lot of money, giving you the opportunity to use this money however you deem fit.
I am Naisha Patel, a professional finance writer specializing in personal finance. I have been working in the finance sector for a long time. All the people seeking financial guidance are in different stages of life. I love to explore every possible angle of personal finance and simplify things for the common people.