Experts Talk About Maximising Credit Card Benefits For Happy Festive Season

The festive season brings a range of offers from banks, e-commerce giants, and other big brands, all vying for the attention of eager shoppers. Starting with Rakshabandhan, the season of celebration extends right through Diwali, Chhath Puja and then Christmas. Banks offer a range of credit card deals every year to tap into the festivity-driven spending spree.

Choosing a card that matches your spending patterns can help you optimise benefits. Credit cards come with numerous features and benefits that can be helpful for users.They allow for online and in-store payments, help build a good credit history, and offer access to funds instantly during emergencies. Here is what the credit card companies are offering for the season to make the best. 

During the festive season, banks offer rewards like points or cashback on credit card purchases, travel perks such as access to airport lounges and travel insurance, and protection for purchases with extended warranties, among others. By using a credit card that aligns with the spending habits, one can maximise these rewards and benefits.

Certainly, credit card offers are contingent on the type of card and the eligibility of customers. Banks frequently collaborate with brands to present co-branded credit cards with substantial benefits within a specific category.

For instance, Reliance SBI Card Prime Offers Reliance retail voucher worth Rs 3,000 as a welcome gift & additional discount vouchers worth Rs 11,999 at participating Reliance retail stores, the HDFC Bank Regalia Gold Credit Card extends reward points for popular lifestyle brands such as Marks & Spencer, Myntra, and Nykaa. Additionally, the card grants complimentary access to lounges at over 1,000 airports for travellers. Similarly, the HDFC Bank MoneyBack+ Credit Card is tailored for day-to-day expenditures, offering 10 times CashPoints on platforms like Amazon, BigBasket, Flipkart, Reliance Smart SuperStore, and Swiggy.

State Bank of India Cards

The State Bank of India has collaborated with several top brands, offering customers across diverse categories such as travel, dining, entertainment, health, lifestyle, and shopping. Here are some of the top deals:

1. Flipkart: 10 per cent instant discount at Flipkart website or app from 2 November 2023 to 6 November 2023 (early access for flipkart VIP and plus on 1 November 2023) applicable on grocery and flipkart health + mobiles and all other categories (except mobiles and grocery/ flipkart health+)
2. Spencer’s: 5 per cent cashback at Spencer’s from 1 November 2023 to 12 November 2023 with minimum transaction of Rs 2,000 and maximum cashback of Rs 500 per card account.
3. Thangamayil Jewellery: Get 5 per cent cashback from 25 October 2023 to 12 November 2023 at Thangamayil Jewellery stores with a minimum transaction amount of Rs 25,000 and maximum cashback per card account at Rs 2,500.
4. Reliance Jewels: 5 per cent cashback at Reliance Jewels from 28 October 2023 to 11 November 2023 minimum transaction Rs 25,000 maximum cashback and Rs 2500 per card account offer valid on Reliance Jewels stores, Reliance Jewels website & mobile app only.
5. Monte Carlo: Get 5 per cent cashback at Monte Carlo from 11 October 2023 to 19 November 2023 store and website with a minimum transaction amount of Rs 5,000 and get a maximum cashback of Rs 500 per card account.         Upto 26 per cent off on LG appliances, up to 22.5 per cent off on Havells and Haier appliances, up to 20 per cent off on Whirlpool, Panasonic and Bosch appliances, up to 10 per cent off on HP, Sony, Oppo and Dell equipment.
6. Paytm SBI Card SELECT: Complimentary Paytm first Membership and Rs 750 back in Paytm on card activation 5 per cent cashback on Paytm mall, movies and travel spends. 2 per cent cashback on all other purchases on the Paytm app.
7. FABINDIA SBI Card SELECT: Fabindia e-Voucher worth Rs 1,500 as a welcome gift. Fabfamily Platinum Tier membership for exclusive privileges. Additional gift vouchers worth Rs 5,000 from leading brands

HDFC Bank Credit Card:

As part of its Festival Treat Offers, HDFC Bank has introduced an extensive range of deals covering all its credit card options. These Festive Treats comprise over 10,000 offers on Cards & EASYEMI, including a range of banking products such as loans, cards, consumer loans, cardless EMIs, and other offerings. Among these are various enticing offers in the realms of travel, dining, lifestyle, and shopping. Here are some of the top deals:

1. HDFC Bank MoneyBack+ Credit Card: 10 times cashpoints on Amazon, BigBasket, Flipkart, Reliance Smart SuperStore and Swiggy. 5 times cashpoints on EMI spends at various merchant locations.
2. HDFC Bank Regalia Gold Credit Card: 5 times reward points on purchases at Marks & Spencer, Myntra, Nykaa, and Reliance Digital. Complimentary lounge access at over 1,000 airports. Complimentary club Vistara Silver tier and MakeMyTrip Black Elite membership as welcome benefits.
3. HDFC Bank Millennia Credit Card: 5 per cent cashback on Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber, and Zomato. 1 per cent cashback on all other expenses (excluding fuel), including EMI and wallet transactions.

Bank of Baroda Credit Cards:

Bank of Baroda (BoB) is offering several rewards and offers for all its credit card holders under its Festive Shopping Rewards initiative. The offer is available with brands such as Flipkart, Paytm, Amazon, Xiaomi, MMT etc. both online and in-store. Here are some of the top deals that are offered for BoB Credit cardholders: 

• Flipkart Sale with 10 per cent off sitewide.
• Amazon Great India Festival Sale with 10 per cent off.
• Yatra Sale with up to 20 per cent off.
• Croma Sale with 10 per cent off. The offer is available at Croma stores. 

IndusInd Bank Credit Cards

IndusInd Bank extends numerous advantages across its diverse range of credit cards. These credit cards provide year-round offers on various categories including shopping, dining, as well as booking flight and movie tickets. Below is a compilation of some of the prominent deals available:

• Flat Rs 400 off on Myntra
• Up to Rs 3000 off on EaseMyTrip with IndusInd Bank cards
• Flat 15 per cent off on Titan
• 5 per cent off on Eazydiner
• 12 per cent cashback on EMI conversion on Indigo Airline bookings every Saturday and Sunday
• Flat Rs 300 off on Ajio

Kotak Mahindra Bank Credit Cards

Here are some of the deals you should know about Kotak Mahindra Credit Card:

• 20 per cent off on Disney+ Hotstar subscription.
• 10 per cent off on Myntra.
• 20 per cent off on Ed Sheeran's India Tour 2024 tickets and 48-hour exclusive pre-sale.
• 10 per cent instant discount on Flipkart.
• 20 per cent cashback on Bosch & Siemens, Godrej and Oppo.
• 10 per cent cashback on BOSE.
• 15 per cent cashback on Yatra

Utilising the credit card judiciously can amplify the benefits and overall value. According to Bankbazaar:

•  Opt for Routine Purchases on Credit Cards: Using credit cards for routine purchases not only adds convenience to transactions but also helps save money. Look for cards with robust online rewards programs or a consistent cashback rate. This habit of making day-to-day expenses on your credit card can lead to a substantial accumulation of reward points over time.
• Maintain a Balanced Credit Utilisation Ratio: Using multiple credit cards also ensures you don't overspend on a single card, keeping your Credit Utilization Ratio within recommended limits (below 30 per cent, as advised by financial experts). This ratio is crucial for maintaining a healthy credit score.
• Monitor Your Spending: Keep a close eye on your credit card expenses to avoid exceeding your credit utilization ratio. It's important to stay within your budget to prevent any adverse impact on your credit score.
• Leverage Co-Branded Credit Cards: Consider using co-branded credit cards that offer higher reward points or cashback for specific categories. These cards are tailored to provide enhanced benefits for certain types of spending.
• Redeem Reward Points Timely: Many reward points have an expiry date, so make sure to use them before they expire. Additionally, card issuers may change the rewards structure for different spending categories, so it's advisable to monitor this regularly.
• Utilise Multiple Credit Cards: If you have more than one credit card, consider spreading your expenses across them. Each card may offer different rewards or discounts for various categories of spending. For example, use the card that offers the most points for fuel purchases when traveling to your native place. Similarly, choose a card with discounts or freebies for entertainment expenses like a Diwali movie outing. This approach can help you get the most value out of your spending.

By following these strategies, one can make the most of their credit card during this festive season, ensuring that one can maximise the benefits and savings associated with it.