The GST Council has announced a reduction in tax rates on consumer products such as ACs, refrigerators and small cars. These new rates will be effective from September 22.
The government believes this will provide relief to customers and boost consumption during the festive season.
However, experts say the real benefit will be seen only when customers also use credit card offers while shopping.
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Benefits of Using Credit Cards
Credit cards offer reward points, cashback and exclusive deals on every purchase. Whether you’re buying gifts for family or treating yourself, every spend can earn you additional benefits.
During the festive season, expenses increase. In such times, credit card rewards can double the savings.
Saurabh Bansal, Founder of Finatwork Investment Advisors, explains:
“Accelerated reward points on shopping and dining make every spend more valuable. Milestone vouchers, grocery cashback and fuel waivers add up to huge savings over time.”
Top 5 Credit Cards with Big Cashback and Discounts
SBI Cashback Card
5% cashback on all online spends (no merchant limit).
1% cashback on offline spends.
Renewal fee waived if you spend ₹2 lakh annually.
Cashback directly adjusted in the statement.
Tata Neu Infinity HDFC Bank Credit Card
Up to 5% NeuCoins on non-EMI spends at Tata Neu and partner brands.
1.5% NeuCoins on non-Tata brands and EMI spends.
1.5% NeuCoins on UPI transactions (max 500 NeuCoins/month).
Value: 1 NeuCoin = ₹1.
HSBC Cashback Credit Card
10% cashback on dining, food delivery and grocery (limit ₹1,000 per billing cycle).
1.5% unlimited cashback on other spends.
Extra discounts: up to 35% off on Samsung, up to 25% on flights and hotels, up to ₹40,000 off on holiday bookings.
Myntra Luxe offer: ₹1,500 instant discount on spends of ₹4,000+.
ICICI Amazon Credit Card
5% cashback for Amazon Prime users, 3% for non-Prime.
2% cashback on Amazon Pay partners.
1% cashback on all other spends.
Additional benefits: up to 10% off on domestic flights, up to 45% on hotels, up to 8% on international flights.
Cashback credited as Amazon Pay balance (1 point = ₹1).
YES Bank BankBazaar FinBooster Credit Card
10 points (5X rewards) per ₹200 spent on online dining.
6 points per ₹200 on online grocery and apparel.
2 points per ₹200 on other spends (except fuel).
Travel benefits: up to 20% off on Goibibo, up to 25% off on EaseMyTrip.
Reward redemption: Minimum 250 points, 1 point = ₹0.25.
Why Reward Points and Cashback Matter
Every purchase with a credit card earns reward points that can be redeemed for discounts, gift vouchers or travel bookings.
Cashback directly reduces the net cost of shopping.
Example: The SBI Cashback Card gives 5% cashback on all online shopping, making it easy to save more when combined with platform offers.
Plan Your Festive Shopping Smartly
During festivals, people often overspend because of attractive deals.
Adil Shetty, CEO of Bankbazaar.com, advises:
Decide your budget in advance and stick to it.
Start saving early to avoid financial stress later.
Keep track of bank offers, platform discounts and cashback deals, as even small savings add up over time.