Credit Card and its Offers

by Banking Desk
Credit Card Offers

Today CREDIT CARDS are as essential as WhatsApp, basically it is useful in many ways but also has some risk involved. The use of the credit card is known by everyone like we all know we can use them for anything in place of cash. But today we will brief you with information like:

  • What are credit card offers
  • The purpose they serve and
  • Their types.

What are Credit Card Offers and the purpose they serve

Credit Card offers are basically promotional offers that are launched by the credit card issuing companies in standalone mode or in tie-ups with other product/service companies, with an aim to increase their customer base i.e. increase their credit card service subscriber base or enhance credit card usage among their existing consumers.

Types of Credit Card Offers

  • Reward Points

Some credit card companies provide reward points that are cash convertible i.e. can be used to make an equivalent purchase without degrading your credit card balance, on every transaction of a minimum amount mentioned in the offer terms and conditions. But these reward points are open for use only when you reach the minimum eligible number of reward points.

For example, SBI offers one reward point on every 100 rupee transaction made using its credit cards. And each reward point is equal to one rupee. And when you have earned a minimum of 100 reward points, you can redeem or use these reward points for making online transactions like:

  1. Bill Payments
  2. Recharges and
  3. In-Store purchases that are linked to the SBI Rewardz App.
  • No Annual Fees

If you are a regular customer with a good payment record, card companies offer you an upgraded card with no annual fees.

  • Reduced Interest Rates and
  • Add-on Card without any Additional Charges

To conclude, credit card offers are regular or sometimes seasonal offerings that have one of the aim to shift consumer purchase habits from cash to cashless. But beware, a free hand in credit card usage may land you in financial debt. So, ask for intimation texts from the credit card issuing company whenever you are nearby or exceeding the credit card balance in your account.

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