A credit card is a plastic money that helps you buy groceries, accessories, travel & movie tickets, besides offering you the privileges of airport lounge access, 24×7 concierge assistance, etc. The money spent on the card helps you earn rewards, discounts, cashback, fuel surcharge waivers, and much more. The rewards earned can be redeemed for exclusive gifts, cashback to the credit card account, etc. These rewards would mostly expire between 2-3 years of their accumulation. A few cards, though, come with never expiring reward points. You can also get rewards for spending a specific amount as mentioned by the credit card issuers and apply for a credit card online. These rewards can come in the form of gift vouchers or the fee waiver, resulting in enhanced savings for you.

You can make purchases online in a few clicks. If you don’t find it comfortable buying online, you can also visit a retail store and swipe the card to buy the stuff you want. You can either go for a straight purchase from credit card or choose the EMI option. If you choose the first option and pay the entire due, there won’t be any interest. Else the credit card provider would charge interest at the rate of 2.50%-3.50% per month, accumulating to 30%-45% annually.

The EMI option comes with an interest rate but at a lower rate of 13%-24% per annum.