How to Save More This Diwali with Smart Credit Card Spending

Diwali is the festival of lights, sweets and endless shopping from gifts, gold to gadgets and home decor. Diwali is the time when we all love to spend because different diwali sales get live with exclusive offers. What if you could make our Diwali shopping smarter not just spend, but also save while you shop? This is where credit cards play a smarter role in saving on spending this festive season. Many banks and brands roll out exclusive Diwali credit card offers that help you earn cashback, reward points, and big discounts. Let’s understand how to maximise savings during Diwali shopping using credit cards and smart financial planning.

How to Save More with Credit Cards?

Credit cards are more than just a payment option but a great way to earn instant discounts, cashback, EMIs, and reward points. During Diwali, several banks and e-commerce platforms like Amazon, Flipkart, Myntra, and Croma tie up to offer limited-period festive deals. Here’s how to save more with a credit card on this Diwali shopping. 

Plan Your Shopping List: 

Diwali shopping includes buying tempting, unnecessary items. Make a list of what you really need to avoid unnecessary items and expenses. Once you prepare a list of essential items, then check and compare prices on different platforms with credit card offers available to save more. 

Know your Credit Limit- 

Diwali shopping means overspending but for responsible spending, it is important to first know your credit card limit. Credit cards come with a credit limit, and crossing this limit may lead to a higher interest rate, rejection of further transactions and affect the credit score. 

Choose a Festive Offer-

Banks and most of the brands come up with different festive offers, which include cashback, EMI, Bonus or reward points with festive discounts. You can pick any offer that aligns with your purchase, check any hidden charges and avoid applying for multiple cards to avail these festive offers. 

Redeem Cashback & Reward Points: 

Credit cards offer cashback or rewards points on every spending that are mostly overlooked. Most cards offer reward points on every rupee spent for using them for festive shopping, which gets collected and can be redeemed. These accumulated credit card reward points can be used for purchase this Diwali. You can redeem these points for gift vouchers, discounts or cashback credits. 

Use No-cost EMI: 

Diwali shopping includes large purchases, which, if paid with debit cards, deduct large amounts from savings accounts, impacting your monthly budget. With credit cards, you can make such purchases without impacting your budget. You can easily make big purchases with your credit limit and then convert it into EMIs at a low or zero interest rate.

Spread Purchase across Multiple Cards

If you have multiple credit cards, you can spread your expenses across those cards, keeping your credit utilisation ratio low. It helps in staying within the credit limit and reducing any negative impact on the credit score. 

Make Payments on Time 

The most important festive rule for using a credit card is clearing dues fully and on time. Avoid making late payments; it results in high interest, harming your credit score. Late payments with high interest also impact your Diwali budget. 

Best Credit Card Offers this Diwali-

SBI Credit Card: 

• SBI credit card offers a discount of 5-10% on shopping at e-commerce platforms under the Kushiyan Unlimited campaign. 
• SBI Cashback credit card offers 5% cashback on online purchases and 1% on offline purchases. 

ICICI Credit Card: 

• ICICI Bank has extended its festive offer with around 10% instant discounts on famous brands like Amazon, Flipkart and Myntra. 
• The bank also introduced PayLater EMI schemes. 

Axis Bank-

• Axis Bank is offering 10% cashback with its open celebrations on food delivery and groceries from famous brands like Swiggy, Zomato, Bigbasket, etc. Flipkart
• Axis Bank Credit Card offers 5% cashback on Flipkart and 7.5% on Myntra. 
• Airtel Axis Bank Credit Card offers 25% cashback on telecom spending.

HDFC Bank

• HDFC is offering 10% cashback under the festive treats programme on credit card shopping with famous brands Amazon, Flipkart, BigBasket, etc. It also offers no-cost EMI on electronic items and home appliances. 
• HDFC Millennia Credit Card offers 5% cashback on Amazon, Flipkart and Swiggy and 1% on other spends. 

Bank Of Baroda 

• BOB card offers 26% cashback on the products of the LG brand and 22.5% on Samsung consumer durables, with up to Rs. 30000 off on chroma. 
• Bank offers savings of up to 5 lakh across all the partner platforms. 

Conclusion

Diwali is the season of joy and prosperity, smart spending can make it even brighter. Instead of stretching your budget, spend wisely using credit card offers, reward points, and festive deals to lighten your financial load. So, before you swipe your card this diwali, check your bank’s festive deals and plan your purchases wisely. A little planning can help you celebrate Diwali with financial wisdom, not financial stress.