Full Review of Best Lifestyle Credit Cards in India

Full Review of Best Lifestyle Credit Cards in India

Style is all about setting new trends and standards to create milestones in a modern day life. The Indian market is flooded with lots of credit card offers and privileges. Being one of the most popular categories, Lifestyle credit cards act as a host of privileges to lead a luxurious life without leaving a hole in the pockets.

Basically, lifestyle cards lift you up to an advanced level of luxury and convenience. Day-to-day changing lifestyle had triggered a lot of expenses, that put a financial burden on our pockets, but, credit cards can actually aid to this burden. They are designed to meet different lifestyle needs of individuals.

Nearly about 80% of the cards issued in Indian market fall in the lifestyle category. Credit cards actually come handy when you are running out of cash or don’t have enough funds available to meet some urgent needs. However, it is important to stay alertful while using credit card, otherwise instead of aiding your finances, it will turn into a financial burden.

Tips to use lifestyle credit cards:

Understand your card thoroughly – First and foremost important factor to consider is to understand the credit card thoroughly. Every issuer offer different set of terms & conditions, reward & privileges, and fees & charges. Thus, it is important to choose a card that suits to your lifestyle needs and preferences.

Sign up at right time – Don’t sign up for a credit card just because your friends or colleagues are doing so, instead ask yourself that do you really need a credit card and can timely repay your card’s outstanding bills? Go ahead only if you are financially set to manage your card.

Fees and charges – Once you are ready to sign up for a credit card, it is significant to completely understand the fees and charges structure to avoid any penalties and conflicts later.

Don’t exceed credit limits – Even though card issuers give their best to make the cardholders craving for additional rewards and benefits, but, don’t get greedy to get those rewards against exceeded credit limit. For instance, cardholders can get free movie tickets worth Rs.500 on exceeding annual spend of Rs.1 lakh. Hence, exceeding limit to Rs.1 lakh is not at worthy just to get free movie tickets.

Redeem rewards regularly – Cardholders can avail reward points for every spent. However, it is important to redeem those points within a valid period. While some rewards come with lifetime validity, others have limited validity period. Thus, keep redeeming your rewards in regular intervals.

Benefits of lifestyle credit cards:

Savings on fuel expenses – One of the most essential expenses in today’s life is fuel purchase. Due to the fuel surcharge levied on card transactions, many of us tend to make payments in cash. With lifestyle credit cards, we can avoid paying the surcharge, as it is being waived by most of the credit cards when used to make fuel transactions.

Travel privileges – With travel becoming an essential part of modern day life, a lifestyle credit card would certainly include a benefit related to travel such as free air tickets, cash back on hotel bookings, special privilege program membership.

Dining privileges – Dining out has become an integral part of our lifestyle. We eagerly keep waiting for the weekends after a hectic week and lots of work pressure to explore new dining destinations every week. To provide exclusive benefit to all such foodies, lifestyle credit cards would certainly offer privileges on dining spends including discounts at partner restaurants across India, cashback at certain restaurants, complimentary dishes, chance to become a chef and lot more.

Health and wellness benefits – ‘Health is wealth’, we all have heard this common proverb a lot of time in our life. As health and wellness play a key role in our day-to-day life, a few lifestyle cards do provide related benefits by partnering with healthcare and wellness professionals.

Airport lounge access – Cardholders can also get complimentary membership to various priority pass programmes that in turn provide exclusive lounge visits, benefits to add-on cardholders.

Movie ticket offers – After travel, entertainment plays an important part to make us feel refreshed. To cover this aspect, lifestyle credit cards offer various discounts on movie tickets and other entertainment programmes. It could be a buy one, get one movie ticket or a special discount on ticket price, cardholders can plan their weekend movie at much lesser price.

Insurance cover – One interesting aspect of lifestyle credit cards is the comprehensive insurance protection. Most cards offer coverage for air accidental death, emergency hospitalisation abroad, loss of card, loss of travel documents, loss of check-in baggage, etc.