Flying costs have gone up as more people continue to catch flights and trains to go about their regular businesses in the post-pandemic era. Though the number of people taking domestic and international flights to travel may not be the same as in the pre-pandemic era, we are definitely recovering.
The effect of inflation has had an impact on everyday expenses, which means that people have to now pay more for booking travel tickets and booking hotels. This is especially true for frequent fliers who rue how a major part of their income is spent on their travel and hotel expenses.
Credit cardholders pay for their expenses using these cards, which can increase the burden of credit and subsequent penalty too on non-repayment of the money in time.
However, adopting certain tricks while using your credit cards can also help you cut down on your travel costs. This you can do by constantly checking the offers and discounts on these cards or using credit cards issued by banks or fintech organizations closely working with airline companies or travel agents.
Check for offers and discounts
Do you frequently check the offers available on your credit cards? All credit cards announce sales coupons and discounts on travel and dining with some even extending their offers to shopping for clothes and medicines too. Next time, you book an airline ticket or decide on your upcoming hotel stay, che
ck if you can travel or stay by paying less using your cards. Before you decide to travel, just click on your credit card company’s website or mobile app to see if there are any cashback offers or loyalty discounts available.
Also, if your card company has a tie-up with your travel agent, chances are that you may get access to a free airline ticket too. Reward points and additional offers can have a redeeming effect on your travel and living expenses, so make sure to avail of such offers, if and when available.
Opt for a co-branded credit card
Some fintech companies often enter into a business partnership with travel companies. The idea is to increase their customer base while ensuring that their existing customers stay on board. The fintech organizations partner with hotel companies too, thus, allowing you adequate discounts and rebates on your living and dining expenses. One can avail of maximum benefits on credit cards when they are used to make purchases through merchant partners.
The following table lists the following travel credit cards rated among the top five in India by PaisaBazaar.com.
|Credit Card||Best known for|
|Citi PremierMiles||Air Mile Earning||3000|
|SBI Card ELITE||Low Forex Markup||4,999|
|HDFC Regalia||Travel booking with points||2,500|
|HDFC Bank Diners Club Privilege||Travel booking with points||2,500|
|Air India SBI Signature||Co-branded benefits (Air India)||4,999|
|Axis Bank Vistara Signature||Co-branded benefits (Vistara)||3000|
Also, you need not rely on one card alone. Rather, you can use multiple cards to pay for your accommodation, travel and dining expenses.
Gaining reward points
Imagine your credit card company rewarding you for your loyalty. This they do by crediting reward points to your card that you may redeem while paying for something. In most cases, travel cards allow you to pay for your airline or railway tickets partly by using your cards and the remaining by redeeming the points awarded on your cards. This you can do while buying your tickets from the web or using your credit card company app. More reward points translate to more discounts, thus, allowing you to benefit more in the long run.
Dining and recreation at airport lounges
How many times have we wished to dine at airports but refrained from doing that due to the high costs involved? Check if your credit card allows you free airport lounge access as it can save you loads of money on dining. What more can you ask for if you can sit for free in the lounge, and enjoy the food while getting access to their unparalleled internet services too?
Credit card offers are limited and so are their uses. This means that if you lose out on an offer, you cannot expect to use it again elsewhere. Also, card companies announce reward points only on some specific purchases or come with an expiry date. This implies that either you avail of them within the stipulated period or lose out on their benefits.
Credit cards if used wisely can do a lot of good, especially, when it comes to saving money on your travel expenses. Though you may feel that living on credit may make a dent in your pocket but paying for certain expenses using your card can actually help you save more money than you had anticipated.