Travel miles ya cashback? 💳 Credit cards ke rewards aur perks kya aapke spending habits ke hisaab se hai? Janiye best credit cards ki list aur unke hidden dangers! 🚨
Debt trap se kaise bachein aur maximum rewards kaise lein? Dekhiye poori kahani yahan Nazar Ya! ke YouTube Channel pe! 🔥
Debt trap se kaise bachein aur maximum rewards kaise lein? Dekhiye poori kahani yahan Nazar Ya! ke YouTube Channel pe! 🔥
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00:00RBI has reported that credit card users have reached 105.4 million.
00:21Companies have made the benefits of their credit cards more attractive to cater to this trend.
00:27Like American Express has said that Platinum card members will get unlimited access to 1300 plus airport lounges globally.
00:36Insurance coverage up to 5 crores, dining apps for complimentary memberships and exclusive golf courses will also be available.
00:44Credit cards are becoming popular in India now.
00:47Many people claim rewards like business class tickets, 5 star hotel stays and many more.
00:55But no matter how enticing the benefits are, it is important to understand the risks involved with them.
01:03Today in Andekha Nazariya, I, Ashish Chhatre, will examine the rewards of credit cards and their potential downsides for you.
01:11Rewards of Credit Cards
01:13What are the offers?
01:15Credit cards give a lot of rewards that depend on users' spending habits and lifestyle.
01:21Most of the rewards are in the form of cashback points or travel miles.
01:25These advantages can be given if they align with your spending patterns.
01:31Cashback Rewards
01:32Cashback cards give back a few percent of your total spending, which is usually between 1-2%.
01:39But some cards give up to 5% on specific categories like dining or fuel.
01:45Like SBI gives 10x reward points on Simply Save Dining and Movie Expenses.
01:50Points or Miles
01:52Many cards use a point system, in which users get a few points on every Rs.100 spent,
01:59which can later be redeemed for shopping vouchers, travel or cashback.
02:05RBL Bank ShopRite like Carrel Cards give specific rewards for grocery and fuel purchases,
02:12which is good for those who regularly spend in these categories.
02:17Co-Branded Benefits
02:19Some credit cards are co-branded with specific brands or retailers and also give exclusive benefits.
02:26Like RBL Bank ShopRite gives Rs.100 for 20 reward points on Groceries and Fuel Spends,
02:33and a 10% discount on BookMyShow.
02:36This is very useful for those who regularly spend on movie tickets and groceries.
02:41Risk vs. Reward
02:43Hidden Dangers of Credit Cards
02:45There are some risks with the attractive rewards of credit cards.
02:49Like High Interest Rates
02:52If you don't clear the entire balance on time, your debt can increase even more with high interest rates,
02:59which can accumulate and go up to 36% per year.
03:03Hidden Fees and Charges
03:05There are many hidden charges on credit cards.
03:08On-Date Payments can also affect your credit score.
03:11Overspending Temptations
03:13It's true that people start spending more than 15% due to low credit cards,
03:18which increases consumer culture and can even put us in debt.
03:22That's why it is very important to use it with discipline so that you don't get trapped in the debt trap.
03:28Choosing the Best Reward Credit Cards
03:31Which card should you buy?
03:33Apart from regular rewards, many credit cards also give welcome bonuses or special perks.
03:39Like airport lounge access, travel insurance, or access to exclusive events.
03:44But remember, these rewards are only valuable if they suit your credit card spending lifestyle.
03:51That's why it is important to choose your specific spending habits while selecting cards,
03:57so that you can get maximum returns.
03:59For example, if you are an entertainment enthusiast,
04:03who regularly spends on movies, dining, and shopping,
04:07then SBI Simply Save Credit Card can be good for you,
04:11which offers high rewards points on these spends.
04:14Similarly, let's look at 5 cards that Forbes Advisor has analyzed out of 100 cards.
04:201. SBI Simply Save Credit Card
04:24Best for Dining, Movies, and Shopping
04:2710x points in these categories and fuel surcharges with waiver,
04:31ideal for social spenders or families.
04:342. Simply Click SBI Credit Card
04:37Made for online shoppers, this card offers 5x points on partner sites like Amazon
04:43for 10x points and other online purchases,
04:47suited for frequent online buyers.
04:503. RBL Bank ShopRite Credit Card
04:54This card is good for groceries and fuel,
04:57with 20 points per 100 rupees on grocery spends and fuel rewards.
05:02BookMyShow also offers movie discounts, ideal for family essentials.
05:064. American Express Smart Earn Credit Card
05:10AMEX offers rewards on flipkart and Uber purchases like partners.
05:15With 10x points, ideal for frequent online users who shop from AMEX brands.
05:215. BPCL SBI Credit Card
05:25Specially tailored for fuel, with 13x points and 1% fuel surcharges waiver on BPCL pumps,
05:32perfect for commuters who regularly refuel on BPCL.
05:36Is it necessary to change your lifestyle for rewards?
05:40A common mistake that people make with credit cards
05:44is to change your lifestyle or spending habits just to maximize rewards.
05:49This approach can lead to unnecessary expenses,
05:53which overweighs the benefits of rewards.
05:56Everyone says that only those people can benefit from credit cards who do not need them.
06:02That is, credit cards should be complemented with your existing spending.
06:07Have you also shifted to credit cards?
06:10Let us know in the comments.
06:12And remember to like and subscribe to the video.
06:16I am Ashish Atre, I will meet you in my next video.
06:19Until then, take care of yourself.
06:21See you soon.
06:23www.mytrendyphone.co.uk