Credit Cards and Discounts
Credit cards offer plenty of chances to save money in the form of discounts, they’re constantly competing with one another to get people to choose their card rather than their competitor’s. These discounts can often be seen at big outlets and food chains, usually on a board next to the cashier that states a certain discount for using a credit card of the company they’re partnering with.
Think about it, you walk into a bunch of big outlets and they say they’ll give you a certain discount if you use a credit card from VISA, and you were considering getting a credit card anyway. Wouldn’t you immediately decide to get VISA? It looks like a good deal, you get a credit card like you were meaning to plus discounts for your favourite shops.
Besides giving discounts at shops credit cards often have rewards programs for their customers, awarding points for spending a certain amounts of money and then selling items in exchange for those points. A popular example of this right here in Pakistan is the HBL Platinum VISA Credit Card, which gives one reward point for every PKR 25 of local spending and five reward points for every PKR 25 of international spending.
One of the items in their awards catalogue is an Apple 128GB iPhone 6S that is worth 316,000 points which would take about PKR 7,900,000 local spending or about PKR 1,580,000 international spending. Since the iPhone is worth PKR 82,000, that’s how much you’d be saving if you got it with the rewards program.
Just like that many other companies like Master Card, American Express and Chase also have reward programs and discounts, allowing their users to save money on their purchases or buy an expensive item just for being a loyal customer.
Now the reward program you get may also depend on the credit card you acquire, a silver card won’t have one that’s as good as a gold card, a gold card won’t have one as good as a platinum card. Although the longer you use a credit card and the better credit history you build, which means the higher the chance you have of being able to access better programs.
These reward programs and discounts allow people to save a lot of money over time, especially when it comes to discounts at outlets and restaurants. It may not seem like it at first but as time goes own you’ll realize how that 50% discount at the café was a life saver!