There’s an old proverb that says “nothing comes free in life”. These are changing times and this saying also needs to be changed. There’s so much freely available, you just need to be smart and have credit cards!
The primary reason to develop credit cards was convenience and safety. This surely is the most important feature of any credit card. Nonetheless, free market economic reforms and changing customer lifestyles have improvised plastic money which now carries several incentives to the card holders.
Spending money keeps the economic cycle moving, money spent makes more money but for an individual, spending through credit card can save you loads of money? Don’t believe this just yet! Let’s talk about this a little more.
Before you venture out to obtain a credit card for yourself, let’s go through a list of benefits you can avail with a credit card, and literally save thousands of rupees just by using a credit card!
The issuer banks have made special arrangements with their merchant vendors to allow discounts to their customers if they pay with the credit card. The discount varies from outlet to outlet and the type of card you carry. Up market cards such as Gold or Titanium may bag you more discounts in comparison to regular credit cards. Before you set out to make a purchase just go through the vendor list of your bank sent to you by mail or available online, to be sure of the discount you may receive while making a purchase from that particular outlet. There are tons of online stores that provide discounts too on credit cards. If you have been on a lookout for discounts, check some options here and here!
Need a little flavour on the type of discounts you can get, and the amounts you can save? UBL offers 15% off on Visa Platinum cards, on Cotton & Cotton, Tag Heuer has a flat 25% off on Visa Platinum cards, Amir Adnan has flat 10% off on most of SCB’s credit cards, Afghan Carpets has 15% off on most Faysal Bank credit cards. Are you convinced now?
These points are also referred as reward points by some of the banks. This is another way how you save money while you shop. Every purchase or every rupee spent through credit card carry a point which is added to card holder benefit account. To put it simply, these accumulated points can be redeemed at an outlet or can be redeemed against items that the bank has published online or has sent out as information with your credit card statements.
Looking for more information on what all you can exchange with your points? SCB offers a whole plethora of products you can purchase, or you can get a waiver on your annual maintenance fee on your card as well. Faysal Bank outlines the points redemption process in great detail, and indicates the outlets you can avail these points on; alternatively, they give you an option to call and find out about offers and deals too against point redemption. If you explore more, each bank has details of the redemption points, and the kind of items you can purchase; for example, HBL has complete PDF booklets that you can download and browse through at leisure!
Food & Dining
Hotels, restaurants and several food chains have special deals once you pay with the credit card. This however depends on the type of card and the bank they have negotiated the deal with. So investigate before you check in. There is great possibility the kid meal you ordered may cost you pennies or your colleague may dine on half cost or even free, with you. Some of the biggest discounts and offers are available on UBL, HBL, Faysal Bank and Summit Bank. Chances are that if you hold a credit card from either of these banks, you are in for a treat, pun intended!
Kababjees for example, has a 15%-25% off on HBL Credit cards, while if you are a FoodPanda fan, try using your UBL credit card for a flat 20% off on your orders! There are tons of options and discounts, all you would need to do is ask the server to confirm which bank cards have the highest discount, and then use that card.
Travel like a King
Credit card bring you respect like one else does especially when you travel. Certain banks have made arrangements with local and international airports to allow their card holders free entry in CIP, VIP and Business Class Lounges. Food and refreshments are added perks wherever available. In a way your credit card bring you two fold advantages; 5 star relaxation and free meals thus saving you precious foreign exchange if travelling internationally. That is a pretty sweet deal if you look at it in perspective of international traveling where waiting time and food, can cost you money.
Fringe Benefits: This is not all, with your plastic money you can ease you with stresses such as Hertz car rentals, airport concierge facility and meet and assist service. The list of added feature can go a mile long and a person can avail facilities such as discounted hotel bookings, tourist destinations and preferential check-ins if you are paying through Visa and Master top of line credit cards.
Reward Air Miles: You may not be aware but it is a fact that you have accumulated hundreds of air miles if you have bought your ticket through your credit card. Once a ticket is bought for international or domestic point certain air miles points are added to your pool. So next time when you buy a ticket and short of money, don’t worry, pay through your accumulated points, the remaining amount. If you are a frequent flyer may be you have enough points piled up that you can get your spouse’s ticket absolutely free. Compare deals and discounts, particularly with respect to traveling, and find the card that works best for you!
Merchant vendors to retain their customer and enhance their loyalty programs have made unique deals with some of the banks. Their business interest has actually benefited the card holders and can help save huge sums of money. Here’s how it works; when a card holder purchases from a designated outlet and pays through credit card a specific percentage of discount is given as a cashback. SCB offers a bucket load of cashback options on fuel, on groceries, on electronics and some retail stores. Cashbacks are normally reflected in the bill so that you can keep track of the amount you have received back. Check out your bank’s website to evaluate the kind of cashbacks you can get, and where you can avail these cashback offers on.
One of the biggest advantage of using credit cards is the ability to be able to use them globally. Any card that is a Visa or a MasterCard can be used anywhere across the globe. What more is that a lot of banks offer international discounts and cashback offers that you can avail from. That is perhaps the biggest money saving advantage anyone should go for!