Ready to supercharge your festive savings but don’t know where to get started? Two words – Credit Cards! Now if you are wondering what strategies you can employ to make the most out of your Credit Card, here is a comprehensive list with some real-world examples!
The festive season in India, spanning from Diwali to Christmas and New Year, is a time of joy, celebration, and, of course, SHOPPING. Though Credit Cards can help you tackle those big-ticket purchases easily, the dread associated with next month’s due amount lurks in the shadows. Having said that, there are some strategies to maximise savings and rewards to cut that bill significantly, especially during the festive season. Here they are, with real examples sourced from all over social media.
Discount/Offer Stacking
Probably, the most effective strategy to save big during the festive season! E-commerce platforms and retail stores offer festive discounts. When you combine them with Credit Card offers, your savings shoot up exponentially. For instance, during festive sales, you can easily find a 10% discount on electronics on major e-commerce sites. By using a Credit Card that offers an additional 10% cashback on festive purchases, you can effectively save 20% on your purchase.
A user on Reddit shared how she combined a 20% discount on a smartphone with a flat ₹4,000 cashback offer on her Credit Card. According to the user, it resulted in a total savings of around 30%.
Rewards, Make ‘em Count!
Most Credit Cards offer reward points for purchases, which can be redeemed for various products, vouchers, or even cashback. To sweeten the deal a bit more, some Credit Cards offer accelerated reward points on specific categories like shopping, dining, and travel. Accumulate these points throughout the year and redeem them during the festive season for maximum value.
Another recent Reddit post had gone viral. The user wrote that he redeemed his accumulated reward points worth around ₹63,000 to purchase a brand-new I-phone 16 for just ₹27,000 when it was launched.
No-Cost EMI For the Win!
No-cost or 0-cost EMI (Equated Monthly Installment) options are a fantastic way to manage spending. Devoid of the burden of additional interest charges, no-cost EMI has eased the pressure on consumers. Big-ticket purchases like electronics, home appliances, and furniture have become more affordable as the cost of purchase is spread over several months without any additional charges.
A Quora user shared how he bought a high-end Sony Bravia TV during the festive season using the no-cost EMI option. Choosing a 12-month no-cost EMI tenure made it easier to manage his finances while enjoying the latest technology.
Additional Reading: How The Interest-Free Period Is Calculated On Your Credit Card
Don’t Sleep on Milestone Bonus
Most of us do not have the time to track spending for a month, let alone an entire year. As a result, any additional cashback, reward points, or vouchers for reaching a certain spending threshold usually go under the radar and remain unutilised or unclaimed. We can’t stress the importance of these milestone benefits. Keep an eye on them and plan your purchases accordingly to maximise savings.
A user on a social media forum highlighted how she received a bonus voucher worth ₹5,000 for spending ₹50,000 during the festive season, which she used to buy gifts for friends and family.
Concierge – More Than Fancy French!
Time is money and that’s exactly why we’ve squeezed in concierge services onto this list. Many premium Credit Cards offer concierge services that can help you with various tasks, such as making travel bookings, restaurant reservations, or finding hard-to-get gifts. Focus on celebrations while utilizing these services during the festive season to save time and effort.
A Quora user shared their experience of using their Credit Card’s concierge service to book a last-minute holiday package, which included exclusive discounts and perks. It saved her a lot of time that would have otherwise been spent scrolling through several webpages hunting for the best deal.
Of Leaderboards and Giveaways…
Credit Card issuers often run festive contests and giveaways, offering prizes such as cash vouchers, gadgets, or even holiday packages. Daily, weekly, monthly leaderboards are an upcoming trend wherein you stand a chance to win exciting rewards and gifts just by outspending everyone else during that specific period.
A Reddit user recently posted about winning an I-phone 16 in a festive contest organised by his Credit Card issuer, simply by using his card for regular purchases. Another user won a travel voucher worth 1 lakh for leading the spending charts in a month.
Additional Reading: Revealed: The Best Time To Pay Your Credit Card Bill
Move On, Lounge On!
Traveling to meet friends/family or finally taking that often-postponed trip to that idyllic village during the festive season? Then, you must take advantage of complimentary airport lounge access offered by Credit Cards. Not only do you get free food and drinks, but it can also make your travel experience more comfortable and enjoyable, especially during the busy holiday period. A number of Credit Cards have recently introduced a minimum spend threshhold to unlock complimentary airport lounge access in the subsequent month. By planning your spends and travel strategically, you can ensure you avail domestic or international airport lounge access this way
A Quora user described how he used his Credit Card’s lounge access benefit to relax and enjoy complimentary refreshments during a long layover in Dubai. Thus, he could save money spent on crazy-expensive airport food and use it to try out local delicacies.
The ‘Price Protection’ Safety Net
Some Credit Cards offer price protection. If the price of an item you purchased from an online/offline merchant drops further within a certain period after the purchase, then you may be eligible for a refund of the price difference. All you have to do is raise a claim. During festive season, prices fluctuate frequently, and this feature along with some obsessive price-monitoring can help you save more.
A Reddit user shared how she received a refund of ₹2,000 when the price of a laptop she purchased dropped during a festive sale. Savings even after the purchase was made turned out to be a pleasant surprise for her.
That’s all, no epilogue at the end! Now, off you go shopping! Just in case you are worried about which card to get, we have some fantastic lifetime-free Credit Cards lined up for you!