What are the advantages and disadvantages of shopping credit cards? Learn first then use
The biggest advantage of shopping credit cards is about co-branding. Due to this, special discounts are available on sales and special occasions.
This card is designed keeping in mind the shopping.
If you love to shop whether it is online or offline then for you shopping credit card ,Shopping Credit Cards) is a much better option. to such people regular credit card ,Credit Cards) should be used instead of a shopping credit card. Using a shopping credit card will earn you more reward points, along with special bonuses and more discounts on specific brands. Also like other cards EMI option as well It happens. In this article, we try to know how shopping credit card is different from regular card. Also what are its advantages and disadvantages.
In a report published in Mint, Paisa Bazar Associate Director Sachin Vasudev said that shopping credit cards are completely different from regular credit cards. This card is designed keeping in mind the shopping, in which the users get many benefits. Some advantages are of exclusive nature. Get more reward points on shopping credit cards. Apart from this, they have agreements with different brands. There, a special discount is offered on shopping. If you shop a lot online, then some cards have also been designed keeping such shoppers in mind.
Charging features remain the same
It should be kept in mind that the charges on interest, late payment and penalties on shopping credit cards are the same as on regular cards. In such a situation, late payment should be avoided at any time. At least the minimum payment must be made. Raj Khosla of mymoneymantra.com says that joining fee, annual maintenance charge, late payment fee, annual percentage rate, overdue payment and over limit fee are applicable for shopping credit cards as well.
Also Know These Things About Shopping Credit Cards
- Talking about the benefits of shopping credit cards, users get an interest free period of 50 days on each credit card side. Even after the bill is generated, about three weeks time is available for payment.
- Reward points are generated faster on shopping credit cards. Its direct monetary benefit is not available, however, points can be redeemed. With the help of this, you get good savings. However, do according to your ability within the shopping limit.
- Credit card issuing companies have tie-ups with big brands. In such a situation, you get additional discount on those brands. Before buying a shopping credit card, definitely know where you do most of the shopping. If you put petrol at the petrol pump more than shopping, then there are special cards for that too.
- The biggest advantage of shopping credit cards is about co-branding. Due to this, you are offered special discounts on sales and special occasions.
- Bank Bazaar CEO Adil Shetty says that with the help of shopping credit cards, more amounts can be easily converted into EMI. This feature is much better than the regular card.
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