Credit cards are synonymous with convenience worldwide. From avoiding the need to carry cash, which is not just inconvenient but also more risky, to providing time for making payments, credit cards are one of the handiest things provided by modern-day banks.
While foreign banks were the first to issue cards, Indian banks have stepped in and have tied-up with millions of vendors and merchants countrywide to provide a number of benefits to Indian consumers. This has resulted in the market place being flooded with many different types of credit cards.
We at mymoneykarma.com believe that the first step to getting a good credit card is knowing what does each card type mean. In this blog, we will demystify shopping cards.
A shopping credit card is another variety that gives consumers some particular benefit in addition to usual benefits of using a card. These credit cards may be travel company affiliated card, apparel store tie-up, online discounts or dining out options, such credit cards are meant to cater to millions of consumers using the card for specific transactions time and again. For example, IRCTC, the site through which millions of Indians book railway tickets, has tied up with SBI providing SBI customers with the option to get a discount every time they book it through the particular card.
Similarly, other banks are trying up in some form or the other with the most commonly used e-commerce site, retail merchant or utility services enticing customers to use their services because of the benefit it provides. However, all shopping cards are different and the challenge is to understand your spend patterns and see which shopping card is best suited for you. You can do that by manually analysing where you have spent money or using mymoneykarma.com that provides customized recommendations for automatically analysing your spend patterns.
Go ahead and use any of these credit cards and avail the benefits of both conveniences along with additional freebies that come with the use of the plastic money.