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Credit Card
The rising travel trends in India and their impact on credit card usage
Key Takeaways
Travel bookings through credit cards have skyrocketed with the growing convenience of EMI offers, discounts, and rewards.
- Travellers going abroad enjoy zero forex markup, international discounts, and secure transactions with a credit card.
- Domestic travel is leading the cashless revolution through contactless card payments and cashback.
The Indian tourism industry is growing rapidly with the increasing number of domestic and international trips. Whether it is an impromptu weekend trip or a long luxury travel, Indians prefer to use credit cards to pay for their vacations. To purchase air tickets, stay in luxury hotels, or shop from malls, the use of credit cards has increased multi-fold because it offers convenience, rewards, and security.
Travel credit cards provide advantages like lounge entry, discounts in bookings, and cashback, which are now inseparable travel companions of modern travellers. Let us analyse how travelling by Indians is increasing the use of credit cards and transforming user behaviour.
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Increased travel bookings through credit cards
Thanks to the ease of online travel bookings, Indians prefer paying through a credit card for expensive travel costs.
- Hotel and airfare booking:
- EMI facility:
- Reward schemes:
- Global acceptability:
Websites of travel, hotels, and airlines provide additional cashback and discounts for booking flights and hotels with specific credit cards.
Foreign vacations are mostly settled through EMI conversions to avoid paying a big amount at once.
Credit cards provide rewards for spends that can be used for future journeys.
Credit cards eliminate the hassle of currency exchange for international visitors.
Increased foreign spending
International travel is becoming more affordable, and Indian travellers incur more expenses while eating out, shopping, or other aspects of travel.
- Zero forex markup charges:
- Increased security:
- Interest-free cash advances:
There are some credit cards with zero forex markup, and these mean further savings on foreign transaction fees.
Credit cards are more secure than holding large amounts of cash in foreign land.
Premium credit cards allow cash withdrawals abroad without paying immediate interest charges.
Tip: Always notify your bank before travelling internationally to prevent transaction declines due to security concerns.
Travel isn’t about exploring new places; it’s about unlocking experiences with financial freedom. With credit cards, your every journey is seamless and rewarding.
Going cashless while travelling within the country
On long weekends, Indians prefer to go on short trips to nearby local destinations. Even on such trips, they prefer using credit cards for seamless transactions across hotels, restaurants, and experiences.
- Contactless payments:
- Privileged benefits:
- Fuel and travel cashback:
- Insurance coverage:
Tap-and-pay facility on credit cards is available at nearly all city and tourist-oriented places.
Some credit cards offer lounge entry, seat upgrade, and priority check-in benefits too.
Road trips and train travel expenses can be optimised using fuel and travel credit cards.
Some cards provide travel insurance, covering flight delays, lost baggage, and medical emergencies.
Tip: Opt for a card that provides travel insurance to stay protected against unforeseen circumstances.
How IDFC FIRST Bank credit cards upgrade your travel experience
IDFC FIRST Bank provides various travel-friendly credit cards that enhance the overall travel experience by providing rewards, convenience of finances, and premium benefits.
The IDFC FIRST WOW! credit cards are ideal for frequent flyers, with no forex loading on overseas transactions and free ATM withdrawals worldwide. It is designed for those who seek a seamless travel experience with lower costs.
For premium travellers, the IDFC FIRST Wealth Credit Card offers airport lounge facilities, international travel insurance, and instant reward points on travel bookings. Additionally, this card comes with partnerships with leading travel platforms like Yatra.com and MakeMyTrip, allowing cardholders to enjoy up to 20% discounts on flight and hotel bookings.
Similarly, the IDFC FIRST Select Credit Card is ideal for those who want a balance of travel benefits and everyday spending perks. It offers travel discounts, cashbacks, and flexible redemption options.
Conclusion
With Indian travellers spending more on flights, hotels, experiences, and international shopping, credit card usage has seen an unprecedented rise. The shift towards digital payments, the allure of travel benefits, and the security of cashless transactions make credit cards the go-to financial tool for modern travellers. Whether travelling within India or abroad, using the right credit card not only enhances convenience but also maximises savings through rewards and exclusive privileges.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.
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