We are approaching another year end and this time of the year is a good time to utilize your unused holidays and take a vacation. It is also a good time to celebrate Christmas or ring in the New Year with your family at an exciting location. However it is also the time of the year when a lot of people look forward to travel and thus flight tickets and hotel booking are very expensive. So what if we told you that your credit card can help you save money on your year end travel. Read on to find out more.
Save money on airline tickets:
Few credit card companies offer reward points in the form of air miles so if you have a card that does that then you could save a lot of money when booking flight tickets. Expenditure on flight tickets often contributes a major chunk to the overall travel expenditure. By using the accumulated miles you could get discounts on your flight bookings and what’s more earn further miles that can be used later.
Get Discounted Hotel Bookings:
Just like air tickets, hotel bookings can also be expensive at this time of the year. So it is important that you go through the terms and conditions or the website of the card issuing company to understand if they have any tie-ups or offer special discounts on hotel bookings. If you have accumulated points they could be redeemed for benefits, some websites offer special discounts when a particular brand card is used. So find out about this before you book your tickets. At the hotel also you may be given some complimentary add-ons or discounts on using certain services if you use a particular brand of card.
Complimentary lounge access:
Some credit cards also allow you to access the lounges available on airports. This can help you save money on food and refreshments; a lounge access also allows to enjoy some relaxed time in between flights or before a flight. If you are travelling internationally and have a long layover then access to a lounge could be a blessing.
Waiver of Foreign Transaction Fees:
This will come in handy on your travels abroad. Some cards offer this as a product feature; this means you are saved from paying a transaction every time you use your card abroad which could be a sizeable amount if you intend to stay there more than a couple of days. Before travelling make sure that you check with the card issuer about the rule related to using cards abroad and if you are charged a fee or is there a fee waiver available? If there is no fee waiver you could find out about getting a product upgrade in case required.
There are a few other benefits also offered by credit cards that can help you save money on travel. You could exchange you reward points for vouchers, these vouchers could be used for shopping or eating out. Thus you could get discounts on dining and shopping when travelling. Some cards may offer insurance which could come in handy in case of missed flights, misplaced baggage and so on especially when travelling abroad. Some cards can help you save on baggage cost also by allowing you to carry a little extra baggage or offer waivers for baggage cost.
To Sum it up:
So if you are planning to travel and the expenditure is cause of concern then make the best of your credit card to save some money. However a word of caution, always use your card with discretion. Over use of the card can result in a low CIBIL score. This could be due to you spending too much and then finding it difficult to pay or because of a high credit utilization ratio which also impacts the CIBIL score. If you have multiple cards then spread your spending across cards.
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