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Online shopping with credit cards is the wave of the future

By Ankita

Gone are the days when people used to stand in long queues at the stores to make the purchases. It was frustrating and time-consuming. Also, people had to pay higher by shopping at malls or stores due to overhead costs of the retailer. But today, the way of shopping has changed completely. Almost everyone today prefer shopping online for obvious reasons, it is easier, convenient, less time consuming and cheaper.

With so many people shopping online today, the smart way to make purchases is via credit cards. Look for credit cards that offer wide range of benefits on shopping. Every individual has a different idea of rewards and depends on different situations. Therefore, choosing the best credit card for online shopping requires a lot of thought and analysis.

Why use a credit card for online shopping?

Plastic money has always been the most convenient way of shopping, whether you do it online or visit a store physically. However, there are some cards that are better for online shopping because they are safe and secure. With cyber crime increasing, a buyer needs to be careful while making any online transaction. Therefore, you should always look for a card that gives total protection from cyber fraud, doesn’t charge higher interest rates and no extra costs on currency conversion.

Finding the best credit card for yourself

Before even going further, you need to realize that there is no such thing as “best credit card”. Almost every financial institution offer same things. The only difference in cards is the rate of interest and benefits. But if you are a novice, are looking for your first credit card, here are things that you might want to look at before opting for one:-

  • Interest rates – interest rates is the biggest concern of any applicant. You need to look for a card that has the lowest rate of interest or running any kind of promotional offer. Compare rates of interest on credit cards online and then apply accordingly

 

  • No annual charges – Credit card companies usually don’t inform about the annual charges upfront. Companies offering higher benefits on cards would have an annual fee attached as a promotional propaganda. Therefore, you need to check with the agent or you can also compare annual fees offered by different banks yourself. Today many banks offer no annual fee credit cards for credit card promotions.

 

  • Higher benefits – If you are a person who spends regularly on online shopping and prefer paying by credit cards, then you need to have some benefits in return as well because you are actually a valuable customer for the bank. Go for credit card  that offers for cash back, discounts or reward points in return of purchases.

 

  • Low or no currency conversion rates – The primary reason for online shopping is that you can purchase items from stores that were outside your geographical boundaries. Many overseas store offer delivery in India. But, when you swipe your card in such stores, you might be charged a high conversion rate. Therefore, you need to check with the bank about conversion rates.

 

  • Fraud protection – Many people deviate from online shopping because they fear that their cards can be used for some cyber fraud. Therefore, go for cards that are linked to Mastercard or Verified Visa.

Credit card options

Online shopping in India is increasing day by day. More and more brands are going online, giving the customers a wide range of variety to choose from. Customers can easily compare prices on different websites, look for additional discounts, shop at anytime, from anywhere and read reviews before making a purchase. Due to these numerous benefits, people prefer online shopping in India. To find the best credit card for yourself, you don’t have to visit banks physically. You can easily find the features and benefits of different credit cards online these days. You can find top 5 mentioned below:-

  1. SBI Simply Click – This card is designed for online shoppers. The banks have tie-ups with online stores like Bookmyshow, Cleartrip, Amazon India, Foodpanda and Ola cabs that can give benefits to customers while shopping through these online stores.

  2. Snapdeal HDFC Card – People who like to shop on Snapdeal can apply for this card as it comes with numerous discounts and rewards

  3. Citibank Rewards Card – Great for online shopping as it gives you an opportunity to earn reward points on every purchase. Also, the reward points earned on this card don’t expire

  4. Axis Bank Buzz Credit Card – Customer gets free voucher Rs 1,000 from Flipkart after making 3 purchases within 45 days as a welcome token. After that 5% discount on every purchase made on flipkart.

  5. ICICI Bank Coral American Express Credit Card – With no annual fees for the first year  and heavy discounts on online shopping, movie vouchers  and 50 per cent extra reward points on online purchases, it is a perfect credit card for privileged customers.

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