HDFC Bank is considered to be one of the leading credit card issuers in the Indian market. This bank covers a wide range of credit card categories from lifestyle to travel. You can easily find a credit card for yourself that suits your profile the best. HDFC Bank has tailored its credit cards according to its customer’s needs, you name it and you will have that specific credit card.
Adding a credit card to your wallet is a great idea but not knowing how to use it can completely diminish all its features and benefits. You will only be able to maximize the benefits of your credit card when you use it responsibly. In this article, we have listed down some of the important things that can help you in enhancing the benefits of your HDFC Cards. Keep reading to kick start your research.
- Choose the right credit card: To begin with enhancing the benefits of HDFC credit cards you need to understand how important it is to choose the right credit card. Choosing the right credit card is the first step towards maximizing the benefits. First thing first, start with analyzing your needs and spending habits. After this start comparing the selected best HDFC Bank Credit Cards and narrow down to one credit card that is of the greatest value to you.
- Sign-up bonuses: This is one to enhance the benefits of your credit card by availing the conditional welcome or sign-up bonuses. On some credit cards bank offers a conditional offer say for instance on Intermiles HDFC Bank Signature Credit Card lets you earn up to 8,000 bonus Intermiles on spending up to Rs. 90,000 within 90 days of card activation. When you get such offers try to avail them if you can as they help in making your experience more rewarding.
- Categorize and spend: This point is the most important one you need to know your credit card rewards program very well. Read your credit card features and benefits thoroughly to know which spend categories lets you earn rewards. And then use your credit card for those specific transactions only so that you can earn reward points. Accumulated reward points can be redeemed further against e-vouchers, products, etc from the product catalog. This is not over yet, HDFC Bank also offers you the credit cardholders the advantage of the SmartBuy platform where they can avail of the HDFC SmartBuy Offers in order to enjoy a more rewarding experience. During times of emergencies, you can use your HDFC credit card even if it does not allow you to earn reward points.
- Using credit card every day: Make it a habit that you use your HDFC Credit Card every day as it will not help you in building a good credit score but also a good standing account. It is not mandatory that you use your credit card for only big purchases; you can use it for small payments as well such as paying utility bills, grocery shopping, etc. The idea behind this is you maintain an active credit history, moreover making payments through credit cards will help you maintain your expenses and you will have proof of where you spent your money unlike with cash.
- Check your credit card statement: We say this, again and again, keep a record of your credit card statement as it will keep you informed about your transactions. Where you spent how much did you spend, all of this can be easily found in your credit statement. Also, if there is any error or omission you will know it through your credit card statement. On finding such mistakes you need to immediately report them to the credit card issuer so that you do not have to bear someone else’s mistake.
- Keep dues clear: You cannot skip this point, one of the important things that need to be kept in mind. Keep your credit card dues clear in and on time. We know it is difficult to remember the due dates of all your credit cards and because of this, you can sometimes miss the due date. But you should know missing the due date can easily leave a negative impact on your credit score. So, to avoid this from happening again and again you can register for the auto-debit services as it helps in clearing your credit card dues on time without you needing to keep a record of your credit card due dates. Since HDFC Bank offers various payment channels you can check all of those on the HDFC Bank official site here to payments from anywhere and anytime.
- Keep low credit utilization ratio: Building a good credit score is in your hand. Your credit utilization ratio directly impacts your credit score. If you have a high credit utilization ratio then your credit score will dropdown. It is advisable to maintain the credit utilization ratio between 30% – 40% in order to build a good credit score and a good standing account. This can be difficult for those who overspend, you can choose to set a threshold limit so that on reaching that limit you get notified and stop using your credit card further.
Bottom Line:
With parting thought, we are sure of this that using the above-mentioned tips can help you in enhancing the benefits of your HDFC Credit Cards. The major factors that will help in maximising the benefits are credit card rewards programs, paying the credit card bills on time, keeping the credit utilization ratio low. Apart from these, you also need to choose the right credit card which does not cost you a fortune in terms of fees and charges. For that, you need to read the most important terms and conditions leaflet of your credit card. Using a credit card wisely is the only step towards building a good standing account.
Do share your tips on how you managed to enhance the benefits of your HDFC Credit Card in the comment section. Also, leave your queries in the comments. We would love to help you out.
Additional Reading – What Happens If I Can’t Pay My Credit Card Debt?