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Shopping for Christmas and New Year? Use your credit card
Is your shopping list ready for Christmas and New Year? Or are you taking the much-needed vacation to rejuvenate yourself? Whether you are planning to indulge in retail therapy or whether you are drawing up your travel itinerary, keep your credit card ready. Read on to know why you should put your credit card to use this festive season.
Discounts and Cashbacks
Most banks tend to have tie-ups with retailers – both online and offline – wherein they offer additional discounts, cashback and rewards if you shop using their credit cards. These could add up to a pretty package if you total it up over all your festive season purchases.
Upgrades on airline tickets, hotel bookings
Planning to take a holiday during the festive season, now that travel restrictions have been eased? Check out the offers on your credit card. Most banks have tie-ups with airlines and hotels wherein you can get upgrades, access to premium airport lounges, discounts and even free nights if you pay by swiping their card. Three nights at a resort of your choice for the price of two does sound like a great deal, doesn't it?
Rewards
Most banks also offer additional loyalty or reward points for purchases made during the festive season, provided you swipe their credit card. Why lose out on such offers, especially when you can redeem these reward points for purchasing attractive gifts for your loved ones?
No-Cost EMI
Are you looking at a big-ticket purchase to mark the festive season? Say the latest smartphone or that new UHD TV? Instead of dipping into your savings or opting for a personal loan, check out the offers on your credit card. Most large banks have No-Cost EMI offers for big-ticket spending on their credit cards during the festive season. If you opt for one of these, you can pay for the purchase over 6-12 months without any interest.
[Also Read: Here's How You Can Get The Best Out Of Your Credit Card]
Interest-free period
Even if you are not interested in a No-Cost EMI, there is another clinching reason for you to use your credit card during this festive season. The fact is that credit card spending is interest-free for a month. Provided you have paid your earlier month's bill in full; banks will not charge you any interest on fresh spends. If you are smart about it and plan this spending keeping in mind your billing cycle, this interest-free period could actually extend to 55 days.
Note of Caution
If someone is not used to managing credit card spending, it is easy to go overboard. So here are a few things to watch out for:
- Be conscious of your budget and don’t over-spend
- As far as possible, always pay your credit card bills in full, before the due date
- If, for some reason, you can't pay your credit card bill fully, speak to your bank and see if you convert the remaining into EMIs. The interest rates on such EMIs is much lower than the outstanding amount.
Axis Bank offers a range of credit cards with various benefits tailored to its customers' preferences. Customers are also entitled to Edge Reward points depending on their spending patterns. You can redeem them
for a range of attractive deals and offers.
Visit us to know more about Axis Bank Credit Cards and learn how to calculate your credit card EMIs.
Disclaimer: The Source, a content creation and curation firm, has authored this article. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
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