Why a women special credit card makes a great Raksha Bandhan gift?

TomorrowMakers ™

Why a women special credit card makes a great Raksha Bandhan gift?

07 August 2017
Gifting your sister a Credit Card will extend the opportunities for her to invest in herself and live the way she always wished for
 
 

“A woman’s best protection is a little money of her own”, penned Clare Boothe Luce, an American author and politician. Money management can be a challenging affair for anyone. And for a woman, who loves to splurge on shopping or often finds herself in financial emergencies, having a little help is always appreciated. So, if you’re looking for the perfect Raksha Bandhan gift for your sister, why not consider a credit card that is specifically tailored for women?

Credit card providers offer three different type of cards, which mainly focus on the rewarding experience. Some features of an exclusive women credit card include shopping offers, discounts, rewards for grocery shopping and even special healthcare offers, amongst several others. 
a) Credit cards: Made exclusively for working women are issued based on their income.
b) Add-On credit cards: Are tailored for homemakers, (while primary card holders are their earning spouses).
c) Secured Credit Cards: Are basically issued against Fixed Deposit as security. 
So, what are the different women special credit cards that you can consider getting your sister.

Related: Business ideas for women who want financial freedom

Citibank Rewards Card: Some features that match best with womenfolk are:

  • You get 2500 reward points by activating your card
  • It offers an opportunity to earn bonus reward points on occasions like subscribing to online statements, spending a specific amount during a quarter, when applying for an add-on card, birthday rewards, and much more. 
  • It gives you 10 rewards for every Rs. 125 spent at apparel and department stores and other 100 partners 
  • You can earn 1 reward point for every Rs. 125 on all other purchases
  • Points do not have an expiry and can be redeemed for options like fuel, Air Miles, Cash Back, Online shopping, gift vouchers and Citibank Merchandise.

 

HDFC Premium Women Credit Card Solitaire

  • The card rewards your cumulative spending of Rs. 75,000 every 6 months with Shopper Stop gift vouchers worth Rs. 1,000.
  • For every Rs. 150 spent, you can earn 3 reward points and redeem them against gifts or vouchers.
  • You also get 50% more reward points on dining and grocery spends.

Related: How women can save tax in India

Standard Chartered Inner Circle Platinum Credit Card

  • It’s an excellent choice for those who are frequent buyers at Lifestyle and other affiliated stores. You can earn reward points, and alternatively, earn up to 6% value back and 5% cash back at Auchan Stores.
  • It doesn’t have any annual fees and you get 2,500 discount vouchers as a joining benefit. 
  • For every Rs. 100 spent at Lifestyle and Home Center you can get up to 9 reward points.
  • For every Rs. 100 on all other spends, you can earn 2 reward points. 

American Express Payback Credit Card

  • It allows you earn reward points for the daily activities such as refueling, traveling, shopping, eating out, watching movies, etc.
  • The joining fee of Rs. 750, plus taxes, rewards you with 6 additional PAYBACK Points for every Rs. 100 spent. These are applied when you spend Rs. 15,000 within the first 60 days from the date of Card approval. 
  • After 60 days, you can earn 3 PAYBACK points for every Rs. 100 spent. 
  • If you spend at listed merchants in their listed categories, you can get movie vouchers for two worth Rs. 700, every month.
  • It also provides a waiver on annual fees if you spend more than Rs. 1.5 lakhs in a year.

Related: Think men and women need the same insurance plan? Here's why you are wrong

While credit cards are an ideal way to deal with finances in the modern world, they must be used with caution to ensure your finances don’t get out of control. Here are some tips you must keep in mind:

  • Don’t swipe your card for every small purchase
  • Don’t get carried away with catchy advertisements
  • Do not toss your bills into the bin. Study them to learn more about your spending habits
  • Keep a close eye on all your expenses 
  • Download a few useful money management apps
  • Do not cross you credit card limits and ensure your bills are paid on time
  • Reduce your annual percentage rate with the bank’s assistance
  • Avail all the benefits and discounts
 
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