credit card points podcast
By Arpit Sharma
credit card points podcastMay 07, 2022
EASY GUIDE TO MANAGING YOUR CREDIT CARD!
You can manage your credit cards by tracking what you owe, keeping your balances low, prioritizing high-interest cards and paying more than the minimum.
Your credit card is an important tool for building credit, but it can lead to financial trouble. That's why it's so important to use your credit card wisely. If you misuse your credit or accumulate a mountain of credit card debt, you can end up in a financial hole that’s difficult to get out of.
Carrying balances with high-interest rates add up and by not making payments on time, it can impact your credit score. This can then affect your ability to get loans or additional credit lines. If your credit card balance has reached a point that’s causing you stress, it’s time to take control.
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Managing your credit card balance takes both patience and practice. Keep in mind that how you manage your credit card directly affects your credit score and credit report.
Follow these six steps to successfully manage your credit card balances:
- Figure out what you owe
- Identify your credit utilization ratio
- Prioritize your debt
- Create a plan to pay off your debt
- Pay more than the minimum
- Track your progress
Step 1: Figure out what you owe
Step 2: Identify your credit utilization ratio
Step 3: Prioritize your debt
Step 4: Create a plan to pay off your debt
Step 5: Pay more than the minimum
Step 6: Track your progress
Which Credit Card is Better for Me? Cash-Back or Low-Interest?
The amount of credit card options that are available today is expansive. Even if you’re focused on getting a credit card with rewards, the choices are endless. Often, the go-to alternative, if you’re not considering a rewards card, is the low-interest credit card. The benefits of a rewards card look obvious. Who wouldn’t want travel paid for because you use an airline or hotel-branded credit card? And why not stick to the cash-back credit card, which returns “free money” according to some credit card analysts.
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But does that make them automatically better than credit cards with low-interest rates? There are some important considerations before you decide, plus RBFCU offers the calculator below that will help you choose between a cash-back credit card and a low-rate credit card.
Do you intend to carry a balance each month? The math on rewards-based credit cards works well for people who pay their bills in full each month. But if you’re making minimum payments or you’re otherwise leaving a balance on your card each month, you should take extra consideration and see that your interest rate is low enough that it won’t eat into the rewards you’re earning. Interest rates for rewards cards often are two or more percentage points than the rates for low-interest cards.
Are you planning a big purchase? You may really need furniture for your new house, but the closing costs and down payment have taken most of your available cash. Low-interest rate cards work well when you’re looking for big-ticket items and you don’t have time to save for the purchase. These cards certainly are more attractive than the credit cards offered by retail outlets, which have certain drawbacks such as high-interest rates that you should know about.
Don’t forget the annual fees. The annual charge to hold a rewards card can act just like interest rates. They can take a big bite out of the rewards you’re trying to accumulate. High annual fees also have a detrimental impact on a credit card that is advertising a low-interest rate.
As you study the options for rewards or low interest available for credit cards, also look for no-annual-fee cards. A credit union like RBFCU can offer no annual fees for both types of cards.
Lifetime Free Credit Cards: All You Need To Know
No matter how much money one makes, everyone likes things that are free. And just think about how that could be even better. You could get more benefits by using them. Before you shun this like a bizarre idea, let us tell you that a lifetime free credit card offers this too-real-to-be-true deal.
Most credit card providers charge their customers a fee when they take a credit card (Joining Fee) and also a fee for renewing the services offered by that credit card every year (Annual Fee). Luckily, lifetime free credit cards did not get the memo. You can get all the benefits of these cards without having to pay these charges.
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As responsible adults, if we have learned something related to money, it is that we need to dig deeper before we get ourselves into anything. Let’s weigh all aspects of taking a lifetime free credit card carefully-
Why You Should Get Lifetime Free Credit Card
→ Line Of Credit
Any line of credit that you take is going to cost you something. In the case of a credit card, if you are cautious and diligent enough you can save on that. By carefully timing the billing cycle of your life free credit card, you can make the most out of the interest-free period offered by credit cards.
→ Reap Rewards
The best part of using a credit card has to be the fact that they offer loads of discounts and offers. These benefits help us in saving in almost every sphere of our life. With lifetime free credit cards, you get all these benefits, without having to pay the charges.
→ Break Down Expenses
A lifetime free credit card will allow you to break down your large expenses into smaller EMIs. This way, your bigger expenditures fit into your budget. Your wallet will thank you for the breather. Also, when you make larger spends on your credit card, you will accumulate greater rewards and redeem them for even more free stuff.
→ Build Credit
Anyone looking for a loan in their life would understand the importance of their credit report. Credit cards are a great way of building credit. A lifetime free credit card presents the opportunity to build your credit, for free. Stay a little heedful with one and see your credit score go green.
7 Factors to Consider When Comparing Credit Cards
Compare the wide range of credit cards and choose the one that suits you best. There are 7 key factors to consider before you apply for one.
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1. Understand Your Financial Profile and Spending Habits
Before you start comparing credit cards, it’s best to understand your own financial profile. Your credit score and credit history play a big role in what type of credit card you can get. Most high-end credit cards are typically reserved for those with excellent credit, though there are plenty of cards available for those simply looking to establish their credit history, too.
It also helps to know your spending habits. Remember that a credit card isn’t a source of free money – you have to pay back every purchase, and any unpaid monthly balance will likely start to collect interest.
2. Ask Yourself: Why Do I Want a Credit Card?
Whether you’re getting your first card or adding to a collection, ask yourself why you want a credit card. Your answer will be the basis for determining which credit cards to compare and, ultimately, which one to choose. Here are a few reasons you might want a credit card and some matching card types:
If you’re an avid traveler, look into cards that offer hotel, airline, or general travel rewards.
If you’re a small business owner, a cashback business credit card can help you pay for company expenses.
If you’re just starting to build credit, consider a card with no annual fees and a low APR.
If you want to make a balance transfer, compare credit cards that offer no-fee balance transfers or 0% balance transfers.
3. Compare Credit Card Rewards
One of the biggest benefits of having a credit card is that many offer rewards for purchases you’re already making. Some cards offer a percentage of purchase spending as cashback, redeemable for statement credit, while others offer points or travel miles for every dollar you spend.
4. Compare Annual Fees
Another way to compare credit cards is by an annual fee, which can range anywhere from none to upward of $450 for “elite” travel cards.1 Typically, cards with more lucrative rewards charge higher annual fees.2 But that doesn’t mean you can’t find a great rewards card with no annual fee.
5. Compare Interest Rates
Credit cards can have a variety of different interest rates, aka APRs. APRs for purchases, balance transfers, and cash advances, for example, are usually all different.
6. Compare Additional Fees and Penalties
Along with APRs and annual fees, some common credit fees include balance transfer fees, cash advance fees, foreign transaction fees, late fees, returned payment fees, and many more.
7. Compare Extra Benefits
Many credit cards offer additional benefits like rental car insurance, airport lounge access, roadside assistance, and extended product warranties, to name a few.
How To Buy Products Through HDFC SmartBuy?
If you are looking for How to buy products using HDFC Smartbuy, then follow the simple step-by-step guide we have given in this article.
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SmartBuy is an HDFC bank’s e-commerce initiative to create an exclusive portal that offers a wide range of digital and physical products from travel, entertainment, bill payments, electronics, fashion, books, and much more.
In case you looking to buy something from your form your favorite site like amazon & Flipkart or want to book a flight & train from your favorite platforms like MakeMyTrip or IRCTC then do the payment through the Smartbuy platform & you can get good cashback or reward point. In this article, we’ll buy products on Amazon using HDFC Smartbuy.
Smartbuy doesn’t have its own app but if you’re using HDFC Bank MobileBanking App then you can access the SmartBuy form there. Or you can also visit their web portal. so without further ado let’s get started!
Important Note:
SmartBuy offers benefits are not applicable on usage of non-HDFC Bank payment instruments.
The offer will NOT be applicable on items that were already in the user’s cart (added during a previous session) but need to be added post landing from the HDFC Bank SmartBuy platform only
It’s 365 days Offer.
How to buy products using HDFC Smartbuy in 2022
1) In the first step open the HDFC Bank MobileBanking App & in that tap on the Shop option.
2) Now on the home screen Tap on what you looking to buy, for example, amazon. So on Amazon icon.
3) After that Enter your “Registered mobile number” to the bank and “Last 4 digits of card number” & click on the Proceed button.
4) Here you see that the amazon site will open up in the “Smartbuy”. Simply sign in to your Amazon account & search for your product. Just make sure that It should not be in your cart already.
5) As a product open-up then you can add it to your cart or you can directly check out from here by clicking on the Buy Now button.
6) Next, select your payment method as an HDFC card, if you don’t have then tap on the Add card option.
7) Now again tap on the “Add a credit or debit card” option.
8) Now simply fill up your personal information like your “name on card, card number, expiry date” & then tap on the yellow color Add button.
9) As the card gets added then enter the CVV number & continue.
10) Next tap on the “Place Your Order and Pay” button at the bottom.
11) In the last step enter your OTP & complete the payment. & That’s it. Within a few days, you’ll get the cashback or reward point (depends on your card & your purchase) that will get received into your account.
Are rewards credit cards worth it?
Most major credit cards offer rewards—but are the rewards you earn significant enough to make applying for the card worthwhile? When used responsibly, a rewards credit card can help you save money on everything from travel bookings to Amazon purchases.
However, not everybody knows how to maximize their credit card rewards, and not everybody knows what a good rewards card can do for them.
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Are our rewards credit cards worth it? In most cases, yes—which is why we’re giving you the information you need to get the most out of your rewards-earning credit cards. In this guide, we’ll go over the following:
What is a rewards credit card?
A rewards credit card is exactly what it sounds like: a credit card that rewards you when you use the card to make purchases.
With a basic understanding of how rewards cards work, you can earn actual Cash with minimal effort. Let’s start by looking at the three basic types of credit card rewards: Cashback, points, and miles.
Cash back
Cashback cards are the most straightforward type of rewards card because they use a currency you’re already familiar with: dollars. You earn a percentage of every qualifying purchase back. For example, 3 percent cash back on a $100 purchase would earn you $3 in rewards.
Points and miles
Point-based cards and miles-based cards work similarly. Instead of earning dollars on every purchase, you earn either points or miles. Like cash back, you usually earn points or miles on your purchases at a set rate—one point per dollar spent, for example. Many points and mile-based rewards cards increase your rate when you spend in certain categories.
How do credit card rewards work?
Earning rewards is only half the battle. When you’re ready, you can redeem your credit card rewards for money-saving opportunities. Redemption options may include:
Travel bookings: Save money on flights and hotels or earn enough rewards for a free flight.
Statement credits: Reduce the amount of money you owe on your credit card.
Online shopping credits: Reduce the amount you pay at checkout when you shop with popular online retailers.
What Are The Types Of Credit Cards In India?
Credit Card Types - Find out the different types of Credit Card options available in India that has various features & benefits to offer based on your needs. Check out the credit card which provides cashback, reward points, discounts, etc.
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There are hundreds of Credit card options available to newbies. Each card has different features and caters to specific needs. The benefits offered by these cards also vary.
Banks and financial institutions offer a variety of cards. Their Credit limits are different and the facilities they provide are also different. While some provide cashback, others provide reward points. Then there are those that offer discounts or exclusive access to the airport lounge and select dining facilities.
Before choosing the right Credit card you must know about these types. Based on your needs and the benefits on offer, find the right match.
How do I know which Credit card is best for me?
Different banks offer different Credit cards suited to different needs of customers. You need to check the features of the cards that you are eligible for. Visit the websites of the banks you are interested in and check the Credit cards available. Once you know the cards you are eligible for, you can compare their features and decide which one works the best for your needs.
Benefits Of HPCL Super Saver Credit Card That You Should Know
ICICI Bank recently added a new fuel credit card to their portfolio and they call it as ICICI Bank HPCL Super saver credit card.
It’s quite similar to their other HPCL credit card lineup like ICICI HPCL Coral credit card with minor changes. Here’s everything you need to know about the same.
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How to apply for ICICI Bank HPCL super saver credit card
Customers can apply for the ‘ICICI Bank HPCL Super Saver Credit Card’ through the Bank’s internet banking platform or the mobile banking app, iMobile Pay. They get a digital card in a 100% contactless and paperless manner. The physical card is also sent to the customer by ICICI Bank within a few days. Further, customers can manage their transaction settings and credit limit conveniently on the iMobile Pay app.
Features of the ICICI Bank HPCL super saver credit card
Rewards
· 5% cashback on spends on fuel at HPCL retail outlets which includes 4% cashback and 1% surcharge waiver
Additional 1.5% benefit as PAYBACK reward points on spends on fuel made through HPCL’s ‘HP Pay’ app
· 5% benefit as PAYBACK reward points on spends on electricity and mobile as well as shopping at large departmental stores like Big Bazaar and D-Mart.
2 PAYBACK points per Rs. 100 spent on all other categories including shopping at local stores and e-commerce portals for online shopping
· 2000 PAYBACK points as a joining benefit, which are credited to the customer’s PAYBACK account upon activation of the card
· Cashback of ₹100 in the ‘HP Pay’ app wallet on the first transaction made using the app worth ₹1,000 or above.
5 Reasons Credit Cards Are the Most Secure Way to Pay
No one wants to lose money or be a victim of fraud. Here’s why credit cards are the payment method that will keep you the safest.
Some of the advantages credit cards have over debit cards and cash as a payment method are obvious. The best credit cards can earn you quite a bit back in rewards. They’ll also help you build your credit. What consumers often don’t realize, though, is that credit cards are also the most secure payment method you can find.
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Considering how rampant fraud is and that a new major data breach is announced seemingly every few months, security is more important than ever. When you’re picking your primary payment method, there are several key reasons why a credit card is the smartest choice.
1. They’re not connected to your money
2. You have limited to zero liability for fraudulent charges
3. Fraud alerts notify you if your card is compromised
4. Your card issuer will freeze disputed transactions
5. Chip technology makes it harder to steal your credit card data
Top 7 Benefits Of Using A Credit Card In India
Credit cards dominate the digital transactions arena. Apart from convenience, credit cards offer various other value-added benefits like loyalty rewards, cashback, merchant discounts, airport lounge access, and many more. Continue reading to explore the incredible benefits of credit cards.
For decades, India was a predominantly cash-oriented society. Of late, there has been a surge in digital transactions. Today, a vast majority of people own a debit or credit card. Most of us hold more than one plastic card and reach out for it, to pay for our daily transactions.
Yet, even today, not many people are aware of the multitude of benefits offered by credit cards. Besides the convenience, credit cards offer various other benefits to the cardholder. In this article, we list the top benefits of owning a credit card.
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Key Benefits of a Credit Card
Let’s examine the reasons why owning and using your credit card provides various benefits:
- Convenience
- Buy Now, Pay Later
- Build your Credit Score and History
- Contactless Payment Method
- Pay Utility Bills and other Recurring Payments on Time
- Online Shopping on Domestic & International Websites
- Safe and Secure
Credit Cards are a Powerful Financial Tool
Contrary to common beliefs, credit cards are not to be feared. Most people stay away from using credit cards as they fear it leads them into a debt trap. When you use a credit card responsibly, it not only increases your convenience but also offers an array of other benefits.
7 Factors to Consider When Comparing Credit Cards
Compare the wide range of credit cards and choose the one that suits you best.
There are 7 key factors to consider before you apply for one.
1. Understand Your Financial Profile and Spending Habits
2. Ask Yourself: Why Do I Want a Credit Card?
3. Compare Credit Card Rewards
4. Compare Annual Fees
5. Compare Interest Rates
6. Compare Additional Fees and Penalties
7. Compare Extra Benefits
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The Takeaway
Whether you’re getting your first credit card or looking for a new one, shopping around for credit cards can seem overwhelming. But carefully considering these seven key factors can help shape your thinking and make it much easier for you to compare credit cards.
Best Fuel Credit Cards in India for 2022
With the price of fuel rising every year, a lot of people are looking for credit cards that could help them save on their fuel expenses. While most of the cards offer a certain amount of fuel surcharge waiver per month, there are cards designed specifically to cater to your fuel needs. Such cards help you save in the form of cashback, accelerated reward points, co-branded benefits, and more. Some of the best fuel credit cards in India come from leading card issuers like SBI Card, HDFC Bank, and Citibank. Here is a list of the top credit cards in India for managing fuel expenses:
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- BPCL SBI Card Octane
- IndianOil Citibank® Platinum Credit Card
- IndianOil Axis Bank Credit Card
- HDFC Bharat Cashback Credit Card
- IndianOil HDFC Credit Card
So, these were some of the best fuel credit cards in India for 2022. You can go for a co-branded credit card if you are loyal to a specific brand. Remember, before choosing the right credit card, you must analyze your fuel expenses so that you can make the most of that card.
HOW TO CHOOSE THE RIGHT CREDIT CARD FOR YOU?
Credit cards have become a popular and convenient mode to make payments for goods and services. A credit card can help you to improve your credit score, if you spend wisely and make your full payment before the due date. You can also enjoy great discounts, cash-back, and good deals that are often on offer. One can also use credit cards to buy expensive items/ white goods on EMIs (equated monthly installments). One can also use credit cards in emergency situations when one needs money urgently. Credit cards offer an interest-free period of up to 45 days and are useful for hassle-free transactions online and offline.
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Many different kinds of credit cards are available to cater to the varied needs of customers. One can select the credit card that is best suited to one’s spending habits and, accordingly, saves more on daily expenses through reward points, cash-back, discounts, offers, etc.
People looking to take a credit card often find it difficult to zero in on the perfect credit card. Unfortunately, there is no single card that meets everybody’s needs. The best way to find the right card for you will depend on your personal spending patterns and interest in rewards. It is advisable that you take a step back and understand your reason to opt for a card; this will help you in your decision-making process.
What Is Your Lifestyle?
Credit cards are not just a convenient financial mode of payment but also a lifestyle accessory. In order to make the most of a credit card, you need to opt for the right card which suits your spending pattern, lifestyle and needs. Many banks offer credit cards that are tailored for diverse lifestyle needs. Choose a credit card that suits your lifestyle and offers you the maximum rewards.
IndusInd Credit Card Vs Legend Credit Card
IndusInd Bank Legend Credit Card is a super premium credit card that is best suited for people who frequently travel and want to earn reward points. Apart from travel, this card also provides benefits on multiple categories, including dining, shopping, entertainment, golf and more. It is a chip-based contactless credit card that makes transactions seamless, be it online shopping, payment at stores, or cash withdrawal through ATM. Read on to know more about this credit card.
Click on this link to know more about IndusInd Credit Card Vs Legend Credit Card: https://www.emazoo.com/blogs/257334/IndusInd-Pinnacle-Credit-Card-Vs-Legend-Credit-Card
IndusInd Bank Legend offers benefits under multiple categories, including travel, dining, shopping, and more. The features and benefits of this credit card are as follows:
Up to 2 Reward Points
You can earn reward points via IndusInd Legend Credit Card as per the below details:
1 reward point for every Rs. 100 spent on weekdays
2 reward points for every Rs. 100 spent on weekends
Complimentary Lounge Visits
With this credit card, you can avail domestic as well as international lounge access. Here are the details regarding the same:
1 complimentary visit at participating international lounges within India & abroad per quarter
2 complimentary domestic lounge visits per quarter