Credit cards are considered as foes to personal finance. Most of the financially aware people maintain a proper gap from credit cards unknown from the fact that these cards prove to be wicked only when used in improper ways. They can prove to be a boon for the user not only to save money but also to provide several other benefits hence can end up enhancing one’s finance.

“Purchase now and pay later” – the major advantage credit card benefits provide to its user where the word ‘later’ holds the prime responsibility to change credit card from being a liability to an asset. One thing to be kept in mind is that don’t delay paying the credited amount, which ultimately results in paying a higher amount due to high interest being added up or in some extreme cases, being caught in high debt.

The above reason provokes the credit card utilization by the majority of the users. So, how can you save money using these cards? Here are a few ways listed that can help you do so:

• Special Deals Exclusively For Credit Card Holders:

Exclusive offers for credit card holders provide them with a great benefit while shopping on e-commerce portals. E-commerce portals have partnered up with these credit card companies, and provide numerous offers like special offers that too with added discounts, interest-free EMI’s and many more. So before thinking of purchasing something offline, go surf online and see if there is any offer linked with your credit card.

• Cashbacks:

The other benefit that comes along possessing a credit card is that users are rewarded with a cashback when they use their credit cards. However, different credit card providers come along with their respective terms and conditions:

• Cashback on every purchase.

• Cashback on partner stores and retails like super-markets, dine-out options, and e-commerce portals.

• Eligibility also sometimes depends upon a minimum amount of transaction that has to be done to get the cashback.

• Reward Points:

Repayment of your credit card bills on time i.e., every following month not only makes you interest safe but also brings reward points in return, that too at no extra cost. In some cases, the reward points are a huge percentage of your spending. This percentage goes up to 2 percent in the case of some credit card providers.

• Co-Branded Credit Cards:

Using a co-branded credit card of the merchant from whom we avail services regularly provides us with an opportunity to grab high discounts on these services in the form of cashbacks or reward points.

Some of the services are listed below:

• • Petrol Pump

  • Flights

  • Shopping Malls

  • Hotels

  • Restaurants

• Credit Score Building

We all know that a good credit score (above 750) is a must for approval of any loan, be it a big-ticket loan like home loan or personal loan. A well-organized use of credit card results in a good credit card as every time the card is swapped or a credit card bill is paid, it is recorded by the credit bureaus which is responsible for all the credit history and credit score.

• Keeping Track

Credit card statements help the user to check the record of his expenses. One can check the statement whenever he/she wants through different online applications. Every small detail related to the transaction can be viewed through the statement.