Owing to the ever growing popularity, the world of credit cards has seen a huge diversification in terms of availability of category based cards. These categories are aimed at fulfilling specific requirements of various types of users on the basis of their lifestyle needs. The utility factor also plays a substantial role in segmenting the cards offered. Some of the most common categories of credit cards available in India are as below.
Each one of these categories offer exclusive benefits and rewards by way of multiple tie ups with various brands and merchants. In the category of shopping based cards, leading banks and issuers in India offer a plethora of cards to suit the requirements of the discerning user. The section below provides information pertaining to top credit cards in this segment.
A rewards rich card which offers enhanced rewards points coupled with attractive offers and tailor made shopping deals. The never expiring rewards points can be accumulated and exchanged for a host of goodies, deals and cash back. Some of the benefits of this card have been provided below.
For every Rs.125 spent at 50 plus partner stores, cardmembers can earn 10 points into their account. For all other purchases of the same value, 1 point is credited.
The cardmember can be eligible to earn bonus points upon activation. Accumulated points can be redeemed in over 700 plus outlets.
The annual fee remains waived if the combined annual spends exceed Rs.30,000.
Additional bonus of 1,000 points is awarded if the total spends exceed Rs.1 lakh in a quarter.
A premium card offered to you by American Express in partnership with MakeMyTrip and Payback to offer you some of the most pleasing benefits and rewards when you shop. It comes at a fee of just Rs.1,500 per annum. Primary benefits of the card have been detailed below.
The card member earns one cashback point for every Rs.100 spent on regular transactions using this card. For flight tickets or hotel accommodation booked on MakeMyTrip.com, two points are credited to the account.
All bookings and reservations made on MMT will fetch you a rebate of 5% on the bill value.
In addition, the cardmember is also eligible for gift voucher from MMT worth Rs.2,000 if the total spends is Rs.1.25 lacs and above/voucher worth Rs.5,000 if the spends exceed Rs.2.5 lacs in an year.
The coupons can also be used to avail a host of travel related charges online such as flights, hotel accommodation and other bookings.
A co-branded credit card which offers rewards points, cash back and other attractive benefits when you shop on Snapdeal. As a privileged cardmember, you get access to deals from top brands, surcharge waiver and 3X rewards points. Detailed benefits of this card has been provided below.
For every Rs.150 spent on Snapdeal.com with this card, you earn 6 rewards points which is 3x times the regular points.
In addition, cardmembers can also get customized offers from Cleartrip, Ola and other leading online brands.
If the total spends during an year exceeds Rs.1,50,000, the annual fee is waived off.
The cardmember also gets 500 bonus rewards points as a welcome benefit upon signing up for the card.
This card offers attractive cash back to cardmembers and comes with a host of dining and shopping privileges along with potential to earn rewards points for various types of transactions.
The most appealing part of this card is that it does not come with annual or joining fee.
One can get a cashback of up to 10% on select types of purchases at select partner stores.
Shopping or purchase in specific categories such as hotels and dining can earn 3X rewards points.
Under the HSBC Dining Privileges program, you can look forward to up to 20% discount on the bill value when you dine at partner restaurants.
Cardmembers who use their card to refuel frequently can look forward to a waiver of the surcharge billed.
A premium offering in the shopping category from SBI with a top notch rewards program in the offering. The benefits of this credit card have been provided in the section below.
For spends in the categories of dining, movies, grocery and departmental stores, you earn 10X rewards points.
Accumulated points can be redeemed against items from the rewards catalogue and can also be used to offset against the balance outstanding.
If the total spends within the first two months of activating the card is Rs.2,000 and above, you get an additional 2000 cash points.
Total spends of at least Rs.75,000 during an year will be rewarded with annual membership fee waiver.
E-commerce is a booming market at present, from clothes to groceries to electronics, you name it and you can buy it online. Online purchases usually require you to use your credit card or debit card for making payments. Although it is not a complicated procedure, it is better to have an idea before you proceed. Also, be aware of the credit limit on your card, before going on a spree. The following steps are involved while shopping online using your credit card:
When you want to shop for something online, you first choose the website you want to shop from. It then requires you to select the items you decide to purchase. In this step, you can place your items in a virtual cart or bag. Most websites, usually allow you to click on a tab labelled ‘Add to Cart’ or ‘Add to Bag’ against each item that you pick. When you are done selecting all items, you can move to the checkout page of the website.
The checkout page prompts you to enter details such as shipping address, your contact number, billing address and others. This page also gives you the total bill amount generated by adding all items on your cart. Sometimes your billing address, where you receive your credit card statement may be different from the address where you want your items to be shipped to. Be careful while making this selection.
The payment page will allow you to select the type of card you wish to make the payment with. The options provided to you are usually – MasterCard, VISA, American Express or Discover. Sometimes the merchant does not have a tie-up with your card and it will not be available for you to choose. In such cases, you will have to change your mode of payment.
The site will then ask for your name as in your credit card, along with other credit card information crucial for payment such as – your card number, expiry date on the card and the security code. Some cards also have the security code (three digit) on the back of the card.
Some third party websites like PayPal and Citrus allow you to create an account and register your credit card in their website. This requires you to enter all your credit card information one time and every time you make an online purchase, you will just to have select ‘Pay with PayPal’ and enter the username and password for PayPal and your online transaction gets through.
Online shopping also exposes your credit card to the risk of potential frauds. Always remember the following points during on online shopping free:
While shopping, whether be it online or offline, you must be very careful while using your credit card. As long as you take some precautions and be a little cautious while making an online transaction, shopping as always will be fun.