Getting a credit card for online shopping can provide you with a range of benefits. It is not only a convenient way to make payments but also can be a good choice in terms of safety and security.
You also get rewards and cashback while paying for purchases. However, apart from these, there are other major factors to look forward to while selecting a credit card for online shopping. Pick one that aligns with your requirements and shopping choices.
Factors to Consider While Getting a Credit Card for Online Shopping
If you’re opting for a credit card to get the maximum benefit during online shopping, considering these factors is crucial.
EMI Conversion Facility: While making a big online purchase using a credit card, you can repay in small amounts. Credit cards have options to convert large bills to reasonable EMIs. For instance, say you purchase a laptop and don’t want to pay in full up front.
You can opt for the EMI option, as most online shopping sites accept it. You can select tenure and instalment amount according to your preference. The amount will be deducted automatically on a monthly basis from your credit limit. To make the EMI conversion facility affordable, try to get a credit card that offers no-cost EMIs and has a low processing fee.
Reward Programs and Perks: Credit card come with different reward programs. Some may offer more points on online shopping, and others may offer cashback or discounts. Such rewards can maximise your savings.
You can redeem points as gift vouchers, or to pay bills. You can also get a percentage of your payment amount back via cashback benefits. However, selecting a credit card on the basis of your spending behaviour is crucial to get the most out of it.
Applicable Interest Rates: You will be charged interest on the amount you borrow if you don’t pay off the full outstanding balance. Therefore, you must be aware of the interest rate applicable. It’s also important to check if your issuer offers an interest-free period.
Being aware of this can help you manage situations when you might face unexpected financial difficulties and can’t pay your credit card bills on time. Moreover, check the fees related to other features such cash advances and late penalties. The right card will keep your overall costs down.
Purchasing from International Websites: With online shopping becoming the norm, many international websites also provide shipping to India. However, they have limited payment choices, and one of them is via a credit card.
Using it, you can make international purchases and conveniently get items deliver to your doorstep. This widens your shopping choices, increasing flexibility. Simply check the forex fee on your card to ensure this is as affordable as can be.
How to Get a Credit Card for Shopping
While using a credit card for online purchases can be rewarding, you need to meet the eligibility criteria to get one. The criteria may change depending on the issuer. For example, the minimum income requirement to qualify varies with different types of cards.
One you meet the eligibility requirements, apply by following these steps:
- Step 1: Visit the official website of the issue or access their mobile app
- Step 2: Select the preferred credit card
- Step 3: Fill out the application form with necessary details like name, age and others
- Step 4: Submit the required documents
- Step 5: After verification, the issuer will approve your card application
However, it is important to use it responsibly. Using a credit card for making transactions and paying before the due date, reflects responsible behaviour. This is reported to the credit bureaus by your issuer and improves your creditworthiness over time.
This can help you in securing loans in future at better terms like at a decent interest rate and a flexible tenure. While there are many perks attached to making payments using your credit card, building a credit history can give you long-term value.
How to Use Your Credit Card Responsibly
Keep an eye on these factors while shopping online:
- Try not to overspend just because of a high available credit limit
- Keep a check on the credit utilisation ratio
- Pay credit card bills on time and in full
Many credit cards come with lucrative reward programs and have hefty charges to go with it. Do a simple cost-benefit analysis to make a conscious decision and save the most. The One Credit Card offers a wide range of perks for online shopping. For example, you can get a flat 10% off on Plum Goodness, a flat 5% off on Bombay Shaving Company and a flat 10% off on Fastrack.
It also comes with zero annual and joining fees. Apart from these savings, you can earn up to 5X reward points on your top two spending categories each month. What’s more, you can save more with other offers on dining, entertainment, travel, education and fuel. Using its robust mobile application allows you to check offers near you via GPS, so you never miss out on discounts. Apply online to enjoy the benefits of this lifetime-free credit card!
