5 Lesser-Known Credit Card Benefits You Must Know
Credit cards are commonly viewed as convenience tools that give you instant buying power. They are actually loaded with several features that can provide massive value when harnessed correctly. From additional protection to special privileges, being aware of these lesser-known advantages can take your financial plan to the next level. Whether you are using credit cards frequently or happen to be a once-in-a-while user, it’s time to discover some potent features you might have been overlooking.
1. Complimentary Lounge Access
One of the significant benefits that gets overlooked is the free use of domestic airport lounges. With some credit cards, you receive a set number of complimentary visits to airport lounges per quarter. This perk is great for frequent travellers who want to get away from the hustle and bustle and have some snacks, Wi-Fi, and decent seating before boarding. It is a small indulgence, but it makes travelling a lot nicer.
How It Works
Generally, access is provided by card swipe at the lounge door or through a code generated by the card provider’s app. Lounge usage is capped per quarter, so advance planning ensures that this benefit is used to the fullest without cost.
2. Fuel Surcharge Waiver
For frequent drivers, fuel expenditure mounts fast. Some cards have a fuel surcharge waiver, a small but significant saving that can lower your cost of ownership over the life of the card. The waiver usually covers spending between ₹400 and ₹5,000 at Indian fuel stations and is capped monthly.
Plan Your Refuels
It is advisable to review the terms for available fuel outlets and purchase limits. Refuelling in bulk in single or double monthly visits instead of frequent small increments can optimize this benefit for you.
3. Insurance Cover and Purchase Protection
Perhaps the most underrated premium card feature is the free insurance coverage. This could extend to personal accident cover, air accident cover, or loss of checked-in luggage or travel documents. Some cards also provide purchase protection, which ensures expensive items purchased with the card are protected against theft or accidental loss within a defined period of time.
Why This Matters
This advantage proves helpful for tech enthusiasts or tourists. For instance, if your new smartphone is damaged within 30 days of acquisition, purchase protection may help compensate for part of the loss as long as the product was acquired with the card. Likewise, air accident insurance may provide financial security to your family while travelling.
4. EMI Conversion at POS and App
Many users are not aware that high-value purchases made using a credit card can be converted into Equated Monthly Installments (EMIs) instantly, either at the Point of Sale (POS) or via the card issuer’s mobile app. This feature is handy when you’re buying appliances, electronics, or travel packages and want to manage your cash flow better.
Things to Remember
Ensure that the minimum transaction amount is eligible for EMI conversion and verify the tenure available as well as the interest rate. Certain cards even provide zero-cost EMIs during festivals or brand collaborations, making this tool all the stronger for financial planning.
5. Intelligent Credit Card Bill Payment Options
The importance of managing your credit card bill payment cannot be overstated. Delayed or missed payments can hurt your credit score and invite penalty charges. What many cardholders don’t realize is that some banks offer a wide range of payment channels like UPI, NEFT, or mobile banking, to make the process simpler and faster.
Ease and Flexibility
Bill payments through UPI apps enable real-time settlement, particularly near the due date. Auto-debit arrangement is another intelligent step to prevent late charges, and most apps now enable you to see and pay bills from various cards on a single platform, making your financial life much easier.
Final Thoughts
Though most consumers limit themselves to credit card usage for purchases, people who venture beyond can release enormous hidden value. Conveniences such as lounge entry, EMI conversions, insurance protection, and intelligent payment channels are meant to make your life easier and more cost-effective.
For those who want these compelling features, AU Small Finance Bank’s array of credit card offerings guarantees you great rewards with each swipe, and can genuinely manage your financial health through timelycredit card bill payment.
