How To Use Credit Cards for Holiday Shopping & Avoid Debt

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Whether it’s the festive season or the year-end, this is the time for celebrations, joy and a lot of shopping. From buying gifts for loved ones to grabbing the best deals, spending usually goes up during this period. Credit cards make it easier to shop without worrying about paying everything upfront. But it’s important to be careful so you don’t end up with money problems later. Here’s a simple guide to help you use your credit card wisely and stay stress-free.

Use the right credit card

Picking the right credit card can save you money when shopping. Cashback cards give you back a percentage of what you spend, which means instant savings. Cards with reward points let you collect benefits you can use for other purchases, travel or gift vouchers. If you’re buying something expensive, consider credit card EMI. This way, you can pay in smaller amounts over time. Just make sure you know how these offers work, like interest rates or spending limits, so you can use them wisely and avoid overspending.

Compare prices before making a purchase

Before buying anything, check prices in different stores or online to get the best deal. Don’t assume the first price you see is the lowest. Use apps or websites that compare prices for you, especially for expensive items. Sometimes, online shops have better deals than physical stores or vice versa. A few extra minutes of checking prices can save you a lot of money and make your shopping smarter.

Use coupon codes and discounts

Before you make a purchase, always look for coupon codes or special discounts. Many stores and websites offer these for extra savings, like discounts on your bill or free shipping. You can sign up for store newsletters or use apps that help you find these codes quickly. During holidays, your credit card might even have special offers, like extra discounts, when you pay with it. These little savings may not seem like much, but they add up and help you spend less. Just don’t forget to apply the codes when checking out to make the most of the deals.

Do not impulsively sign up for a store credit card

Stores often try to get you to sign up for their credit card by offering discounts or rewards. While this might sound like a good deal, it’s better to think carefully. These cards tend to have high interest rates and fewer benefits than regular credit cards. Plus, you can only use them at that store, which isn’t always helpful. It’s smarter to stick to your current credit cards, which likely have better rewards and offers. Don’t rush into signing up just to save a little now-it could cost you more later. Making good choices now will keep your money in control.

Manage your credit card balances

It’s important to keep track of how much you’re spending on your credit cards. Don’t use up your full credit limit, as it can affect your credit score. Pay off the total outstanding when the bill is due, so you don’t have to pay interest. If you can’t pay the full amount, at least pay the minimum due. You can set reminders for your payment dates or use apps to track your spending. Staying on top of your balances will help you enjoy your holiday shopping without worrying about debt later.

Kotak811 Credit Card: Find out what’s in store for you

Holiday shopping becomes so much easier when you have the right credit card. It helps you save money, earn rewards and shop without worries. The Kotak811 Credit Card is built for convenience, offering cashback, rewards and easy-to-use features that make managing your spending simple.

Take the stress out of shopping and enjoy more savings with the Kotak811 Credit Card. Explore its features today and make every purchase more rewarding!

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This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.