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Are Store Credit Cards Worth It? An in-depth look

  • Highlights

  • Store credit cards are tied to a specific brand or seller

  • They give you discounts, vouchers, and reward points

  • Their benefits are restricted or limited to one brand

  • Enjoy deals from multiple retailers with the SuperCard

With the advent of e-commerce platforms and entrance of big retailers into the grocery sector, you have ample opportunity to save on your spends with a store credit card. A store credit card is one which has a tie-up with a major retailer or a particular brand. So, if you are a loyal shopper of a retail chain, you get discounts and reward points every time you swipe your credit card at the store or use it online.

However, with data indicating that the Consumer Price Index in the country rose to an all-time high in April 2019, you are better off having an all-rounder credit card that lets you save on a variety of spends. For example, when you opt for the Bajaj Finserv RBL Bank SuperCard, you save on purchases made not only at one or two stores, but at a wide range of outlets. Read on to know how store credit cards are beneficial and how an all-rounder credit card can help you go further.

Additional Read: Apply for Bajaj Finserv RBL Bank Credit Card

Get flat discounts and reward points at retail and e-commerce stores

A store credit card will help you save significantly, especially if you make most of your purchases from one seller. At times, store credit cards will allow you to avail a flat discount, say 10% on selected purchases, which remain valid for the lifetime of the card. Moreover, as your first credit card, you can enjoy a range of benefits in the form of accelerated reward points on this card. This means that you can earn up to 10X reward points on purchases made at a particular partner seller.

Profit from cashback deals and gift vouchers

Some store credit cards have introduced the concept of cashback into their offers. For instance, you may be able to profit from a 10% cashback of up to Rs.1,000 when you shop at a particular e-commerce store. On the other hand, many issuers allow you to redeem your points in lieu of gift vouchers that you can use at the co-brand store.

Finally, whether it is gift vouchers or reward points, store credit cards often give you enhanced benefits as a bonus when you first sign up and when you reach or cross certain spending milestones. Overall, a store credit card brings you the benefits of a cashback credit card.

Enjoy the best of everything with an all-rounder credit card

One drawback of having a store credit card is that it is usually tied to just one retailer or only a list of specified partner brands. There are all-rounder credit cards like the Bajaj Finserv RBL Bank SuperCard that are not limited to one seller only. If you’re wondering how do credit cards work with multiple merchants, then you should take a look at the wide range of deals and discounts that the SuperCard offers you.

It allows you to buy groceries from Grofers on a discount, stay at Treebo hotels and get 25% off and get food delivered to your home from Swiggy at a reduced rate. From GoIbibo and MakeMyTrip to Florista and Kalyan Jewellers, this credit card helps you bag deals at numerous stores and brands across the country.

The SuperCard also works to your advantage when you make a big-ticket spend. It lets you pay for purchases over Rs.3,000 via convenient EMIs. Further, it allows you to make 50-day interest-free cash withdrawals at ATMs and obtain 90-day interest-free personal loans from your credit limit.

Additional Read: How to Improve Your Credit Score

Before you apply for credit card, ask the question, ‘how do credit cards work in terms of money-saving offers and how many reward points can I earn?’ After all, reward points can make a big difference in your annual spending. For example, you can redeem the reward points accrued on a SuperCard for flight tickets, hotel accommodation and gadgets like the iPhone 7. Moreover, you can access and redeem your rewards in just one click on the credit card app.

So, shop till you drop and save as you spend by applying for a credit card that offers you umpteen deals at a series of brands online and offline. Check your pre-approved credit card offer from Bajaj Finserv to avail of financing quickly on a deal customised for you.

Pre-Approved Offer

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