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How to make use of the Interest-free credit period available with smart credit card?

How to make use of the Interest-free credit period available with smart credit card?
July 05
15:59 2022

Banks have always shown an intent to provide their customers with enhanced services for them to manage their expenditures better. An effort toward that direction is the introduction of credit cards years ago. Customers having credit cards could make payments with access to a line of credit issued by banks for a certain period. Taking things forward, banks like Standard Chartered are evolving their range of credit cards with the introduction of the Smart Credit Card

The smart credit card comes with an extended interest-free credit period of 90 days from credit card issuance. This interest-free credit period can be a great tool for individuals who want to sort their finances and get things in order. The credit card user must know the different ways to use this credit period wisely. Here are a few tips to pull out the maximum benefits:

  • Timely Bill Payments

Often, due to mismanagement of money, a lot of bill payments get delayed and in a lot of cases, these delays make an individual pay a late fee. Through a smart credit card, one can pay all the bills on time and avoid the late fee. One can use the 90-day credit period to get the finances in order and pay the credit card dues on time

  • Outsized Expenditures

We avoid making extraordinary expenditures at the end of the month. Sometimes we need to buy an electronic appliance because the old one is no longer functional, make a leisure expense like membership fees of any club or an annual subscription, We no longer have to wait for our salary to make these purchases and get things at the moment we need them. We can pay credit card dues for these expenditures at a later stage when our salary gets credited or the payment arrives.

  • Benefits of Cashback

There are two benefits of making all payments through credit cards – one is you get an additional credit period to pay for those expenses and the second is you get many cash backs and rewards. These reward points are redeemed by you later.

  • No More Extending Your Traveling Plans

A credit card is probably the best method to make all your travel expenses. These expenses bring you many discounts on flight tickets and accommodation bookings. and you also get to use the credit period. Often, we have special occasions like birthdays or marriage anniversaries when we like to plan vacations. However, lack of availability of funds sometimes kills our plans. Credit cards can help you avoid that disappointment. You can plan and pay for the vacation as per the special occasion in your life and make payment later as per the credit period.

With Standard Chartered Bank, you can find the credit card best suited for all your needs.They have a range of credit cards that suit different needs and preferences. Here are a few points listed down that can help you choose your exclusive credit card:

  • Convenient and Utility Credit Card

Standard Chartered Bank assures a good deal to a customer on a smart credit card by providing cashback of 2% on online retail purchases and 1%* on other spending. This card also converts their client’s eligible retail transactions greater than Rs 2,000 into 3 months EMI with 0.99% p.m at nil processing fees to alleviate the burden of the lump-sum payment.

  • Rewards Earned on Utility Expenses

A smart credit card doesn’t provide cashback on fuel expenses so Standard Chartered Bank lets you earn 5 reward points through Platinum Rewards Credit Card on dining and fuel spends for every INR150 that can be redeemed later on against their reward.

  • Shopping Cashback 

If you spend a lot of your time shopping in supermarkets or departmental stores, you can get benefits from the Manhattan Credit card that can get you a 5% cashback on your purchase and also helps you gain 3x rewards on other expenses.

  • Basic Online Purchasing

To promote online purchases, the bank has introduced the Digismart credit card. It provides 20% off at Myntra with a maximum discount of INR 700 valid for one transaction. Additionally for spending on online groceries, the card gets you 10% on Grofers with a monthly discount of a maximum of INR 1000 which is valid for five transactions. It gets exciting for foodies as this card provides a 10% discount or a maximum of INR150 on Zomato orders that are valid for 5 transactions.

  • PrioritisingCustomer

The bank issues an exclusive rewarding experience card for priority clients to suit their lifestyles with the  Priority Visa Infinite Credit card. These clients have the pleasure of four complimentary access to domestic airport lounges every quarter. The user also enjoys access to airport lounges worldwide at a nominal charge by using a priority pass membership.

The interest-free credit period is often looked at as a tool to entice people to get a credit card. However, it is so much more than that. It’s a genuine facility that banks offer to their credit card holders.. With offers and a good credit period, it is wise in today’s times to hold a credit card, and wiser if you get a smart credit card.

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