Best Credit card for Diwali shopping: Diwali festival is near. On the occasion of special festivals, people are busy buying new clothes and doing a lot of shopping for their loved ones. If you want to save money on shopping for clothes and electronic gadgets like smartphones this Diwali, then a credit card can prove helpful. There are many benefits like no-cost EMI, cashback and rewards on festive shopping through credit cards. However, for this you have to select the right card. It is important to keep some things in mind while selecting a credit card for shopping during the festive season.
Choose credit card according to your expenses
- Customers should select credit cards according to their needs. There are many credit cards available in the market.
- Credit cards that save money on dining, entertainment or other lifestyle-based spending
- Credit cards offering attractive offers on online and offline shopping
- Travel credit cards for travelers, credit cards that provide better travel experience to frequent flyers, provide users with many benefits like free entry in airport lounges, concessions in hotel booking.
- Co-branded credit cards that help you save money on spending from partner merchants.
If you want to do online shopping during Diwali season, then you can choose a credit card to save money on such expenses or provide other benefits like reward points, cashback. If you travel by car daily from home to office or for other work, then you can save money by opting for fuel cashback credit card. Overall, customers can get maximum benefits by choosing the card according to their expenses.
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Various types of rewards, cashback and other benefits are available on payment from credit card.
On meeting his expenses through credit card, the user gets various rewards like points, cashback, loyalty points, bonus rewards, fuel surcharge waiver etc. Money can be saved by redeeming these points. Reward points earned on credit card usage can usually be redeemed for gift coupons or flight or hotel bookings. Some credit cards also allow reward points to be adjusted on the card statement. Cashback credit card user gets one percent of the transaction amount back in the form of statement credit.
Some credit cards come with offers like loyalty, on the use of which the user gets points. Users can use these loyalty points to avail benefits like discounts by shopping from partner stores.
Some credit cards offer bonus rewards for specific spending categories or during promotional events. For example, such cards can be used to purchase household items or purchase gas to get bonus points or cashback.
Fuel surcharge is an additional charge added to cover processing costs when fuel is purchased using a credit card. Some waive surcharge on purchasing fuel through credit cards, which means you will not have to pay extra charges on paying petrol-diesel or gas bills using that credit card. Know the benefits of your credit card and take advantage of them. Look for offers everywhere to save money on every purchase during Diwali shopping.
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Make a strategy for shopping
Plan your big expenses wisely so that you can get the maximum benefit from credit card rewards. Many credit cards offer sign-up bonuses or more rewards if you meet spending targets in the initial months. Plan your major expenses like travel or shopping within this period. If you are looking for a new card, then choose the credit card that comes with better welcome offer as per your festive shopping.
You can choose a co-branded credit card offered in collaboration with the online platform from which you frequently shop. During the festive season, online platforms usually offer special offers and reward points during festive sales.
Use reward points wisely
In most cases, reward points are available on every payment through credit card. Users can use the reward points earned to settle their next credit card bill, purchase gift vouchers or avail discounts on ticket booking. Many credit card issuing banks or companies also allow you to claim merchandise from a specific catalog. Some credit card issuing companies allow you to convert reward points into cash and then get cashback or refund. In such a situation, you can save money by using the reward points received wisely.
Check your existing reward points balance and redeem them for festive shopping or gift cards to save money. Don’t miss the deadline for reward points or cashback received. Reward points received on payment from some credit cards have a deadline, in such a situation, if the reward points are not used on time, they expire. Do not ignore the rewards points balance due on card payments and redeem them before the deadline so that you can save money by using the reward points earned on your credit card payments. Do shopping through the website or app of that platform from where you can get more cashback or discount. By doing this you can save maximum.
Look for the best offers while online shopping
Instead of shopping directly on online websites, shop using cashback websites like GoPaisa, CouponDunia or Cashkaro. In this way you can get discounts and cashback on shopping. To do shopping, you have to sign up on any of these cashback websites, find your favorite thing and click on the online platform site from which you want to shop.
This will take you to the shopping website, where you can shop as usual. You will get additional cashback by shopping through these third party platforms. There are also special offers on some credit cards on these platforms. Understand the terms and conditions thoroughly before shopping.
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To save maximum during Diwali shopping, you can check the details of 7 best credit cards here.
HDFC Bank Millennia Credit Card
Annual Fee – Rs 1,000
5% cashback on using this credit card on platforms like Amazon, Cult.fit, BookMyShow, Sony LIV, Flipkart, Myntra, Swiggy, Tata CLiQ, Zomato, Uber
1% cashback on other spends
Gift voucher of Rs 1,000 or 1 free entry to a domestic airport lounge on spending Rs 1 lakh in a quarter
1,000 cashpoints on payment of joining and renewal fees
Cashback SBI Card
Annual Fee – Rs 999
5% cashback on online spending
1% cashback on offline spend
1% fuel surcharge waived on purchasing fuel through card at any petrol pump across the country
Axis Bank ACE Credit Card
Annual Fee – Rs 499
5% cashback on bill payments and recharge through Google Pay
4% cashback on shopping from platforms like Swiggy, Zomato, Ola
1.5% cashback on other spends
4 visits to domestic airport lounge in a year if you spend Rs 50,000 in one month
Amazon Pay ICICI Credit Card
Annual Fee – Rs 0
5% cashback for Prime members on Amazon
3% cashback for non-Prime members on Amazon
2% cashback on payments through Amazon Pay merchants using credit cards
1% cashback on other spends
3 months free Amazon Prime membership
Benefits equal to Rs 2,000 on card activation
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YES Bank Paisabazaar PaisaSave Credit Card
Annual fee – Rs 499. No charges will have to be paid for the first year.
3% cashback points on online spend, for example, you will get 6 points on every Rs 200 spent.
1.5% cashback points on other spends. For example, you will get 3 points for every Rs 200 spent.
Let us tell you that 1 cashback point = 1 rupee. Cashback can be redeemed through YES Rewards platform.
There is no redemption charge for this.
1% fuel surcharge waived on all petrol pumps in India
Annual fee waived if you spend Rs 1.2 lakh or more in a year
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Myntra Kotak Credit Card
Annual fee – Rs 500.
Up to 7.5% discount on shopping from Myntra
5% cashback on shopping through platforms like Swiggy, Swiggy Instamart, PVR, Cleartrip & Urban Company
Unlimited 1.25% cashback on other spends
Free Myntra Insider Membership
Myntra Voucher of Rs 500 on completing first transaction of Rs 500 or more within 30 days of card issuance
2 free PVR tickets for the quarter on spending Rs 50,000 in a quarter
Entry into domestic airport lounge is free once in a quarter.
Flipkart Axis Bank Credit Card
Annual fee – Rs 500.
5% cashback on shopping from platforms like Flipkart, Cleartrip
4% cashback on spending on platforms like Cult.fit, PVR, Swiggy, Uber
1% cashback on other spends
Flipkart voucher of Rs 500 as welcome benefits and up to Rs 100 off on first Swiggy order
Free entry to domestic airport lounges 4 times a year after spending Rs 50,000 in the last 3 months
,Note : This money has been created by the market of credit cards issued by various banks and companies. Paisa Bazaar claims that the card information has been taken from the card company’s website on October 1, 2024. This list reflects the best deals on cards that are available across multiple brands, online shopping and offline stores.)