Credit cards, an essential part of financial transactions, offer users a seamless way to pay their bills. You can use it for big as well as small transactions such as shopping, booking flights or railway tickets, etc. These cards are packed with multiple features to make purchases easy and flexible. From offering cash back to providing emergency services, credit cards help in a variety of ways.

After being issued, Credit cards usually take up to 3 to 5 years to expire. However, sometimes, users miss out on benefits as they do not keep track of their card’s terms. Here are some key hidden perks of credit cards:

Balance Transfer

Credit card allows users to transfer their high outstanding balance to another bank’s credit card. Credit card financial charges (interest rates) usually stay around 3,5% per month. On the other hand, the interest rate for balance transfers is typically low. It stands at approximately 1.8% per month. Some card providers even offer a 0% interest rate for transferring a balance. A lower interest rate means a reduced financial burden. This facility generally comes with a lower interest rate for a limited period of time. You can explore this feature and avoid high interest charges by transferring your balance.

Reward Points

Every time you pay your bills using a credit card, you are offered some reward points, which can be used for vouchers or discounts on shopping. However, many people forget to redeem it before they get expires. A few banks even offer the conversion of reward points into cashback. Therefore, it is important to track them and avoid missing out on free benefits.

International Transaction Control

Credit cards allow users to enable or disable international transactions. This facility can be availed through online banking or mobile application, etc. However, some cardholders forget to use this option and keep the international transactions active. This increases the risk of fraud or misuse, so keep it disabled if not in use.

Airport Lounge Access

Premium credit cardholders can access free airport lounge services along with free Wi-Fi, complimentary meals, etc. However, many users miss out on these benefits. For your information, regular travel credit cards even offer free visits every year.

Contactless/Virtual Payments

Credit cards allow cardholders to make contactless payments through their tap-and-pay facility. Not only does it allow users to make safer and faster online transactions, but it also reduces the risk of card skimming.

Free Add-On Cards For Family Members

A few credit cards allow users to get free supplementary cards for family. These card have a similar credit limit, among other benefits.

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