Making a big purchase might cause budget issues wherein your income might fall short of the planned expense. In such cases, your credit card can help in meeting such expenses. Know how to use the credit card to keep your budget on track even when faced with a big spend.

• Home renovation

• International vacation

• A home appliance

Have you fulfilled your short-term financial goals, or are you putting them off due to budget issues?

Large purchases often put a dent in one’s finances, so they are usually avoided. However, with the right credit card, such purchases often become achievable.

Wondering how?

With the convenient credit card benefits available to users. Let’s understand what they are.

How credit cards work to help you achieve your dreams

• Credit access

The first benefit is the credit limit that you get with your card. Even when you are short on funds, you can use your credit card limit to make the purchase.

For instance, say you want to buy a refrigerator costing ?35,000, and your income is insufficient to cover the cost. You have a credit limit of ?1 lakh on your credit card. Instead of drawing upon your savings or avoiding the purchase, you can easily use your credit card and buy the refrigerator.

Credit cards allow an interest-free credit period during which you don’t need to make any payment. The payment will be due when the credit card bill is generated in the next cycle. If you are short on funds, you can also pay the Minimum Amount Due (MAD) and revolve the credit to the next cycle.

• Pay in EMIs

Most credit cards allow you to convert a big purchase into smaller, affordable EMIs (Equated Monthly Instalments). Rather than paying for the transaction in one go, you can spread out the cost over the next few months and pay affordably. This EMI facility also helps you meet your short-term financial obligations with ease.

• Convert existing balances into EMI

Similar to the EMI facility is the balance conversion facility, where you convert your outstanding balance from one credit card into affordable EMIs on another, lower-interest credit card. The balance conversion facility also breaks down costs into small, affordable instalments for easier repayment.

Choosing the right credit card

Add the rewards program, extra benefits and privileges to these facilities and credit cards become a powerful tool in your wallet. Besides allowing you the means to fulfil your financial needs, credit cards also help you get more on every transaction. All you need is the right credit card, and the FIRST Select Credit Card ticks all the boxes!

A value-for-money card, the FIRST Select Credit Card gives you all credit card benefits with exceptional rewards. Here’s what’s in it for you:

• Joining benefits

Get a welcome voucher worth ?500 if you spend ?5000 or more within the first 30 days of card activation. That’s not all! Convert your purchase into EMIs within the first 30 days and earn 5% cashback, up to ?1000.

• Attractive rewards

The FIRST Select Credit Card offers an accelerated rewards program for maximum benefits. Get:

• 10X Reward Points on each incremental spend beyond ?25,000 per month

• 10X Reward Points on your birthday

• 3X Reward Points on Spends till ?20,000 in a statement cycle

Earn unlimited reward points with no expiry date. Moreover, use your accumulated points to pay for online or offline purchases.

• Perks and privileges

Loaded with a variety of lifestyle benefits and privileges, the FIRST Select Credit Card offers:

• 'Buy One, Get One' offer on movie tickets up to ?125 on Paytm mobile app (valid twice per month)

• 300+ Brand Offers, all year long! | Up to 20% discount at 1500+ restaurants | Explore all offers

• 2 complimentary Domestic airport lounge visits per quarter, on spending ?20,000 every month.

• 4 complimentary railway lounge visits per quarter

Financial dreams - now within your reach!

Make budget issues a thing of the past with the right credit card, like the FIRST Select Credit Card. Know how to use a credit card for big-ticket purchases. Make your financial dreams easily come true and pay them off in affordable EMIs. Also, enjoy attractive reward points on your purchase, which add to your savings.

Apply for the card online and unlock a world of possibilities!