As per the calculation carried by World Travel and Tourism Council, over 9% of India’s GDP (amounting to Rs. 16.91 Lakh Crore) was from the tourism industry in the financial year 2018. While foreign tourist arrival in India grew at a rate of 15.6%, the domestic travel industry experienced a 16.5% growth by the end of 2017.
This indicative growth in tourism and travel in India has also supported the 59% surge in the number of applications for travel credit card. People are more willing to spend on travel, be it for leisure or work, by availing such credits.
Subsequently, one should be extra careful and look for credit card features that exclusively benefit the traveler. Your preference as a traveler may differ from another and hence choosing a card that meets your travel requirements is an absolute necessity.
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Consider these must-have features of a credit card before opting for one –
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Instant cash withdrawal from ATM
Despite a large number of active credit cards in India, a lot of places, especially rural areas, do not accept such alternate mode of currency. That’s why you should select credit card companies that offer the provision of withdrawing cash from ATMs without charges.
The Bajaj Finserv RBL Bank SuperCard is one such card that offers a 50-days interest-free cash withdrawal facility from ATMs. You should consider this feature before opting for a credit card apply online.
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Option for an emergency loan
A travel credit card lets you avail of a loan from your unutilized credit limit. You can avail of this emergency amount and utilize it for your financial needs. With minimal processing fees and interest charged, availing loans against a credit card can be a hassle-free and convenient method to tackle monetary emergencies.
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Earn rewards & cashback on travel
Several credit cards come with customer loyalty programs that offer reward points against expenses like airfare booking, hotels, transport, purchases, etc. You can redeem your credit card reward points for discounts, gift vouchers, etc. This feature is extremely beneficial for frequent travelers and is an important factor for consideration.
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Fuel surcharge waiver
Few travel credit cards offer fuel surcharge waiver of around 1-3 % in the purchase of fuel from affiliated petrol pumps. Travelers using vehicles can benefit significantly and save money with such cards. Besides, a credit card can help you save on fuel costs more if you utilize the cashback offers on fuel purchase.
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Complimentary access to airport lounges
Pre-planning your travel and availing a credit card that offers features like complimentary airport lounge access can prove beneficial in situations when the flight is delayed. Credit card companies often offer complimentary lounge access for a certain number of times in a year.
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Welcome bonus
Individuals looking to do credit card apply online must look for features like a welcome bonus. Credit card companies offer up to 12,000 reward points as a signup bonus to eligible candidates. Individuals can redeem these reward points to save on purchases and bookings while traveling.
Subsequently, these pointers are the deciding factors for a traveler as they need to avail of a travel credit card that can maximize financial support and let them enjoy several benefits. Henceforth, applicants must categorize and understand their needs and apply for one that caters to these requirements. Choose the best credit card according to your needs and traveling habits while traveling in India.
