Explore the diverse range of credit cards available in the financial market. From Cashback, Lifestyle, Shopping, and Entertainment Credit Cards to specialised options like Fuel, Travel, Airline, Co-branded, Premium, Business, Secured, and Student Credit Cards: each caters to unique preferences and needs. Whether seeking cashback, exclusive rewards, travel privileges, or business-related perks, you can choose a credit card that aligns with your lifestyle and financial goals.
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Key Takeaways
Cashback Credit Cards: Earn cashback on transactions, receiving a percentage of the purchase amount.
Lifestyle Credit Cards: Tailored for your lifestyle, offering discounts and cashbacks on shopping, dining, and more.
Shopping Credit Cards: Ideal for shopaholics, providing cashback offers and rewards for both online and offline shopping.
Entertainment Credit Cards: Enjoy discounts, cashbacks, and rewards on movie ticket purchases and entertainment expenses.
Reward Credit Cards: Exclusive rewards for transactions, with points redeemable for flyer miles, cashbacks, and more.
Fuel Credit Cards: Combat rising fuel prices with discounts, cashbacks, and rewards on fuel purchases.
Travel Credit Cards: For the wanderlust soul, offering flyer miles, cashbacks, and rewards on travel-related expenses.
Airline Credit Cards: Frequent flyer privileges, including rewards points and airline lounge access.
Co-branded Credit Cards: Partnership cards with brand-specific benefits, discounts, and exclusive access.
Premium/Signature Credit Cards: Exclusive privileges like flexible spending, insurance, and premium lounge access.
Planning expenses prevents financial strain, ensuring timely payments, and allows prioritisation of essential deductions, like insurance premiums, to avoid policy lapses.
Beginning investments early spreads financial commitments, avoiding last-minute rush and facilitating a more strategic approach to tax-saving investments.
Deductions can be claimed under Section 80C by investing in specified instruments like FDs, ELSS, PPF, life insurance premiums, etc. Additionally, understanding provisions in sections such as 80D for health insurance could also be advantageous to you.
Consider monthly spends, planned purchases, investments (FDs, MFs, PPF, NPS), insurance contributions, and EMIs (home loan, education loan) in your financial planning.
Section 80D allows a deduction of ₹25,000 for non-senior citizens and ₹50,000 for senior citizens on health insurance premiums. Understanding and utilising this provision is crucial for optimising tax benefits related to health coverage.
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