Credit cards have become an essential part of our lives today. Everyone wants to have a credit card not only to get a Credit limit to make their purchases easy but also due to the exciting benefits provided by the card issuing companies/banks nowadays. If you are someone who is still not aware of what types of benefits are provided with credit cards, we will make you understand the same in this article. Credit cards come with not just one, but several benefits across a number of categories, including travel, entertainment, dining, health, golf, fuel, and many more. Keep reading to know more about different types of benefits that you can enjoy using your credit card:

types of credit card benefits

1. Welcome Benefits

Almost all credit cards, especially the cards that have an annual fee, come with welcome benefits, which can be reward points, accelerated cashback, or anything. The reward credit cards can welcome you with so many reward points, cashback credit cards can provide exciting cashback offers on your first transaction, and Co-branded cards can come with a welcome gift of complimentary premium subscription of a particular platform like Amazon Prime, Gaana Plus, Zomato Pro, etc. Similarly, there are some travel credit cards that welcome their customers with complimentary flight tickets. These were just a few examples, but different credit cards come with totally different welcome benefits which may be or may not be as one of the examples mentioned above.

2. Reward Points/Cashback

With credit cards, you can save almost every time you spend. Some cards earn you reward points on your spends while others can earn you a cashback. You can earn more reward points or cashback on selected categories and fewer on other categories, but you surely save something on all your spends (except a few transactions like fuel, EMI, wallet reloads, etc sometimes). The rewards/cash back programs offered by credit cards are among the most attractive features of credit cards these days and this is why people prefer credit cards over cash for making purchases. These reward points can later be redeemed against an array of options, including travel-related bookings, gift vouchers, shopping, cashback, etc.

3. Travel Benefits

Keeping the increasing love of people for traveling in mind, almost all credit card issuers issue cards with exclusive travel benefits. Not only the travel credit cards, but a lot of other credit cards also provide their customers with exciting travel privileges which can be as follows:

  • Complimentary domestic & international airport lounge access.
  • Complimentary Priority Pass/LoungeKey/Dreamfolks membership.
  • Complimentary flight tickets.
  • Complimentary Taj Epicure/ITC Culinaire or other exclusive hotel memberships.
  • Complimentary railway lounge access.
  • Discounts on flight/hotel bookings.

4. Movie & Dining Benefits

Talking about the movie benefits of credit cards, you may get complimentary movie tickets on BookMyShow/Inox/PVR, etc. Moreover, some cards also provide their customers with exciting discount offers on movie tickets. These offers generally come with a maximum cap on the price of complimentary tickets, but you can definitely save something if your card offers any such benefit.

With your credit card, you can also get exclusive dining benefits. Some credit cards provide discount offers on dining across thousands of participating restaurants in the country and some premium credit cards come with complimentary Eazydiner membership/ Dine out passport membership/ Zomato Pro, etc.

5. Insurance Benefits

Not every, but many credit cards come with insurance benefits which may include the following:

  • Personal accident insurance cover.
  • Accidental air death insurance cover.
  • Zero liability cover against the lost card.
  • Credit Sheild.
  • Travel insurance covers, including lost/delayed baggage, lost passport/travel documents, insurance cover against missed connection, etc.

6. Fuel Surcharge Waiver

This is something that almost every credit card in India provides. You get a 1% fuel surcharge waiver at all the authorized fuel stations when you pay using your credit card. There is generally a maximum cap on the benefit that you can avail of using this facility, but you can still save a lot on your fuel transactions.

7. Other Benefits

Other than the above advantages, some credit cards come with additional privileges, which can include health benefits, golf benefits, and many more. You can get free doctor consultations with a credit card providing health benefits and complimentary golf games/lessons with a card that comes with golf privileges.

Bottom Line

Credit cards can be a blessing for people who use them responsibly. Credit cards don’t only give you purchasing power these days, but also allow you to save more & more through their benefits. The reward programs on credit cards can be most beneficial when you choose your credit card wisely after understanding your spending habits as different credit cards are best suited in different categories. Moreover, you should carefully look for all the benefits you expect to have from a credit card and then choose a card after comparing several cards. It is never a good idea to go with the very first option you get. If you have any further doubts, feel free to ask us in the comment section below!

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