As the festive season approaches, it becomes not only a time for celebration but also a great time to shop with manufacturers offering exclusive deals and discounts on everything from devices to household equipment. To make the most of these deals the Co-branded cards can greatly enhance your purchasing power.
What is Co-Branded Credit Cards?
A credit card allows you to make purchases instantly and pay them off later. While co-branded credit cards offer unique perks and rewards that aren't often offered with regular credit cards, they go beyond this basic function. A co-branded credit card is a collaboration between a credit card issuer and a retail brand, airline, hotel chain, or other service provider.
When applying for a co-branded credit card, you’ll need to submit several documents, including valid identity proof (Aadhaar card, PAN card, or passport), address proof, income proof (such as income tax returns and salary statements), and passport-sized photographs.
Tips for Festive Savings with Credit Cards
Here are five ways to maximize your festive savings with co-branded credit cards:
1. Special Discounts and Offers: In peak shopping periods a variety of co-branded credit cards offer exclusive deals and discounts from partner brands. This enables cardholders to save significantly on high-value purchases, such as electronics and home appliances, ensuring you get the best price during festive sales.
2. Boosted Reward Points: During the festival season, these credit cards frequently increase the accumulation of reward points particularly when used at partner retailers. This means that for every rupee spent, you earn more points than usual, which can later be redeemed for discounts, gifts, or other rewards.
3. Seasonal Bonus Referrals: Co-branded cards frequently run promotional campaigns offering bonus points or rewards for new users who sign up during the festive season. Referring friends and family can yield additional benefits, providing both parties with enhanced rewards as part of the festive promotions.
4. Flexible Financing Options: Many co-branded credit cards allow you to convert your festive purchases into no-cost EMI plans. This feature helps you manage your budget by spreading payments over time without extra interest charges, making it easier to afford larger purchases during the festive period.
5. Quick Cashback Offers: Cashback is available instantly on certain transactions with some co-branded credit cards. This implies that you can immediately benefit from your spending because you will gain instant savings at checkout for certain transactions.
