Reasons for Debit Cards for Shopping
Who doesn’t love shopping?! But are you also one of those shoppers who has wanted to buy something but not carried enough cash with you? Or worse, had their credit card payment rejected? Do you dislike carrying wads of cash with you all the time, or worried about overspending on your credit card? Well, you needn’t bother about those as long as you got your little plastic friend – Welcome to the world of debit cards!
Banks have now come up with special debit cards that cater to those with extravagant shopping needs! Increasing income levels of the average Indian, changing lifestyle habits and needs has spawned the culture of shopping in India. Be it any occasion—it calls for shopping! Debit card issuers have special rewards program that reward the user every time he/she shops using that debit card.
Nowadays, you have a wide variety of shopping debit cards to choose from, and competition between the various card-issuing banks has led to great choices for the customer. A shopping debit card is a specialized debit card that that rewards you every time you shop. It comes with a rewards or cashback program specially designed to reward the user with accelerated points every time he/she swipes the debit card for shopping transactions at partner outlets like apparel shopping, grocery and supermarket spends. It has a payback program where the bank pays you back in the form of points which can be redeemed for premier merchandise, cashback or gift vouchers. Basically, you get rewarded for shopping!
The advantages of a debit card for shopping are:
You never will run out of cash in the store.
You do not have to worry about overspending and getting into debt since you can only spend what is available in your account.
It is safer than using cash.
It is relatively easy to get and use.
Following is an overview of some of the banks offering debit cards for shopping:
State Bank Classic Debit Card: You can use this debit card for shopping at over 5 lakh merchant outlets in India. This debit card also rewards the user for spends on booking movie tickets, bill payments, travel and other online purchases and payments over the internet. The debit card is powered by the State Bank Debit Card Loyalty Program—FreedomRewardz.
Union Bank Debit Card: Be carefree and “cash-free”! Carry this card around in your wallet, and forget about making payment by cash. You can swipe this card at the merchant POS terminal and shop for up to Rs. 25,000 per day.
ICICI Bank Debit Card: With this card debit offering from ICICI, you can pay for anything from shopping, to eating out with family to a vacation abroad. Book your travel tickets, pay your utility bills and withdraw cash all around the world. You also enjoy reward points for the amount spend. These points can be later redeemed for select merchandise, cashback and other offers.
A shopping debit card is packed with benefits in the form of shopping discounts, accelerated rewards points on certain spends, cashback features and specialized insurance cover. Now enjoy a worry-free shopping experience that also earns you rewards as you shop. Shop till you drop never sounded so good!
Note: The cards mentioned in the article are merely indicative of the kinds of shopping debit cards available on the market. It is advisable to choose your card based on your specific requirements.