The COVID-19 pandemic and the resultant need to stay indoors has boosted online shopping thereby highlighting the importance of cashless tools especially credit cards, debit cards and digital wallets. The year 2020 witnessed a stupendous increase in online shopping in categories ranging from food to apparel to grocery to even medicines.
Among the various financial tools available for online shopping, credit cards have emerged as the most popular option for the several benefits offered by them. Since a variety of credit cards are being offered by banks, you need to choose the one that suits you the most. Here are some ways in which credit cards can make your online shopping experience a happy one:
- Attractive Offers and Discounts
Banks issuing credit cards have tie-ups or arrangements with top grocers and online portals to offer their users attractive discounts. This has made more and more people switch to online credit cards for shopping for all categories of products for their homes. You can choose the co-branded card that offers discounts or offers on shopping at your regular online store or a store of your choice.
- Reward Points and Cash Buybacks
Credit card companies issue reward points to their customers on every purchase or transactions done via their credit cards. These reward points can be exchanged for cash buybacks and again attractive offers on certain stores or travel and hotel bookings. So, get ready to spend and earn rewards even when you order food and other items.
- Buy High-Priced Items and Pay in EMIs
Credit cards offer you credit at no extra cost if you repay the amount before the due date. You can use this option to buy high priced items that you have been planning to buy for long but are unable to afford and choose the EMI option. The no-cost EMI option offered by credit cards is incredibly useful for buying high valued electronic and other items.
You may argue that debit cards too are highly convenient for online shopping purposes. Without a doubt they are highly convenient, but the major drawback is that the money used to fund any purchase or transaction is immediately deducted from your bank account. In the choice between credit card vs debit card, credit card scores over the fact that it offers easy access to credit for a specific period at no additional cost. This allows users to expand their shopping horizon and handle disputes if any relating to the product bought, in a better way.
When using credit cards for online shopping, be careful of sites that are unknown or appear shady. Instead, shop on sites that are highly reputed and have adequate security features. Again, avoid providing your credit and personal information on these sites. Also, monitor your transactions carefully and check your credit card statement at the end of the month to be sure of its accuracy. To conclude, credit cards enhance your online shopping experience but should be used carefully to prevent any kind of fraud.