Indians are the most resourceful people globally because of their ability to make money out of virtually nothing. Indians can adapt to any situation and still thrive in it. It explains why Indians did not feel the brunt of the COVID 19 pandemic despite the economy plunging to record lows. Indians invent creative ways to make money. Let us discuss some excellent money-making ideas using the best buy credit cards in India.
Before discussing exciting ideas to make money fast today from credit cards, here are the top five credit cards on offer in India.
- Axis Bank Ace Credit Card – Get 5% cashback on bill payments through G-Pay without any limit. Scratch card awards on using G-Pay help earn extra cash. Use the card on Ola, Swiggy, and Zomato to get 4% cashback. Other payments earn 2% cashback.
- Flipkart Axis Bank Credit Card – You get unlimited cashback using this credit card. Besides, a 20% discount is available on dining spends. In addition, the range of welcome benefits enables you to recover the card fee charged by Axis Bank.
- Simply CLICK SBI Credit card – You can pay your utility bills conveniently using this card. In addition, get exciting rewards points on using the card at prominent sites.
- HDFC Millennia Credit Card – Cashback up to 5% on each spending is available on this card.
- American Express Smart Earn Credit Card – The zero lost card liability feature is the highlight of the least expensive American Express credit card in India.
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How to make money fast today using these cards?
Here are exciting ways of making money using these credit cards.
- The most creative way to make money is to use these credit cards for your essential purchases. So, even if you pay the electricity bill of Rs 5000, you get Rs 250 as cashback. So, in effect, you have saved on your utility bills. And saving money is also one of the best ways of making money.
- Are you aware you can make money by paying your credit card bills on time? Are you surprised? Yes, it is possible. Here is how you can do it.
All credit cards offer a maximum interest-free window of around 45 to 50 days. The system works in this way. Every credit card has a specific billing and payment date. The payment date is usually 15 to 20 days after the billing date. So, if you use the card for your purchases after the billing date, you need not have to pay for the same until the next payment date.
For example, if your billing date is the 5th of every month, the payment date would be around the 25th. So, the bill generated on 5th May 2022 includes all purchases made on the card until 5th May 2022. Then, the bill amount has to be paid by 25th May 2022. Suppose you purchase a TV for Rs 50,000 on the card on 6th May 2022. The same will be reflected in the bill generated on 5th June 2022, and you have to pay by 25th June 2022. So, you get an interest-free window of 51 days on Rs 50,000.
In monetary terms, it translates to Rs 2515 because banks charge interest @ 3% per month on credit card outstanding payments. Therefore, this savings in interest is an indirect income.
- Using the CRED app to pay your credit card bills can earn you substantial income in the form of cashback, CRED points, bonus offers, and exciting discounts on various goods.
Usually, all these best buy credit cards offer cashback on purchasing fuel. But, in addition, you get exciting incentives like fee waivers, free movie tickets, travel, dining vouchers, etc., that contribute to money savings and thus, enhance your income.
However, it is better to know that this benefit of an interest-free period on the credit card is available for people who pay their bills fully and on time. It is not available if you make partial payments. Therefore, the interest-free period is an incentive for paying your credit card bills on time.
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Final Thoughts
In these days of working from home to earn money, it can be challenging to earn sufficient income to make ends meet. These best buy credit cards are, thus, excellent ways to save and make money. We have seen some creative ways to make money, but there are hundreds of other ways to make money fast today. We shall discuss them in some other blog.
