2019 is on the verge of ending, and major festivals like Christmas and New Year are around the corner. Festivities always come with many shopping sprees where we buy gifts for our loved ones. Since we spend so much money these days, we always look for discounts or special offers that many stores and banks have to offer us. Even those of us who have savings for the festive season are ready to grab some deals to keep a low toll on our bank accounts.
All major banks offer some kind of exclusive coupons or discounts to their customers when they purchase debit or credit cards. Especially when you make payments via credit card, banks are likely to offer discounts in the form of cashback or reward points and similar other types.
No matter whether there are exclusive offers or not, a shopping spree is something that not everybody can afford. Even if you can, you may end up spending more than your budget. If we shop online, we tend to save our favorite things in the wish list for later purchases. Although purchasing gifts through a credit card has many benefits. However, its wise use will only be a lesser burden on you.
The use of credit cards for major purchases does not make you in debt. It depends on how you use your cards. If you go by the rules and use the card responsibly, i.e. not overspending, you can keep reaping the benefits. A good credit score will always be beneficial for your purchases and may help you even save some amount.
Here are some of the benefits you get on using a credit card this season to buy the best gifts for your loved ones:
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1. Cashbacks and Reward Programs
Many banks offer reward programs or cashback on several online and offline purchases using your credit cards. You can either these rewards for your next purchase or accumulate them overtime to give you sizeable benefits. You can then redeem them while purchasing gifts during upcoming festivals or celebrations.
2. Protection Against Frauds
One of the biggest advantages of using a credit card for making a purchase is the protection from frauds. If any such suspicious activity or theft occurs with your card, you can immediately report it to your bank and get the stolen amount back after the investigation is done.
3. Purchase Protection
Consumer protection is a huge benefit of owning a credit card. If, in any case, your purchased item comes in the damaged form, you can immediately return the item and get the charge removed from your card. In some cases, credit cards may offer exclusive benefits for bigger item purchases.
4. Universally Accepted
Credit cards are accepted almost everywhere, whether you buy gifts or travel to other cities or countries. Keeping a credit card by your side is like a helping friend that can help you anywhere and gives you rewards. Most of the credit cards offered by different banks are accepted worldwide.
5. Build Good Credit History
When you intend to loan an amount from any financial institution, credit card scores are considered one of the crucial factors for its approval. Also, your spending patterns get recognized that gives you credibility. Timely payment of your credit card bills always results in good scores, which can fetch you better loan offers.
Use Your Credit Cards Responsibly
Like every other financial product, the advantages of credit cards are best enjoyed when they are used responsibly. You can also make a thumb rule for yourself to not make any abrupt purchases that are not of any use to you.
When it comes to choosing the best credit card, you may get confused. Take the one offering a variety of cashback or reward points from a reputable bank. For instance, Axis Bank Credit Cards provide a range of offers to suit your needs where you can enjoy extra perks during festival times.
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