Choose the right credit card to enjoy the best benefits

Wednesday, 5 November 2014 01:05 - - {{hitsCtrl.values.hits}}

By Tharaka Ranwala Credit cards are speedily replacing cash around the globe as the most popular method of payment for various consumer goods and services. The changing social and economic landscape in Sri Lanka too saw a boom in the credit card market over the past few years and as a result, today we have over one million credit cardholders in the country. As credit cards become an integral part of the modern citizen’s life, it is becoming increasingly important for the responsible individual to be smart in choosing the right credit card. Choosing the right credit card can make a considerable difference, particularly to your finances, as it can mitigate risks and maximise benefits. Hidden charges An essential part of selecting the right credit card is to ensure that you do not have to pay an exorbitant amount for hidden charges. Comparing different charges levied by different

credit cards is always the smart route to take. Responsible individuals looking for the right credit card will see that different credit cards levy varying numbers of charges, some of which are hidden and likely to go unnoticed. Sampath credit cardholders are charged with only four charges, namely: interest, card fee, late payment and cash advance fee (Sampath Infinite, Signature and Platinum Cardholders are levied only with three charges and are not levied with late payment charge). Whereas most cardholders today pay as many as 28 different charges knowingly or unknowingly, Sampath credit cardholders enjoy a distinctive benefit by saving more. Best benefits Moreover, when choosing the right credit card, it is important to remember that it should offer the best benefits in areas that matter most to you. Modern consumers prefer using credit cards due to the convenience it offers, particularly for fuel, as it is far more convenient when compared to cash. At Sampath Cards, we have always taken care to offer the best benefits coupled with convenience, and as a result, Sampath credit cardholders can pump fuel throughout the year without having to worry about the usual fuel surcharge associated with credit cards. Sampath Cards is the only credit card in the market to offer this benefit to cardholders throughout the year without any condition. Transparent real value deals that Sampath Cards offer throughout the year further strengthen our claim to be the ‘Responsible Choice’. These real value deals such as Super Market Promotion, Cardholder Feasts Free, Town on Sale, Cardholder Stays for Free, U Shop V Drop, etc., are designed with the sole objective of benefitting the card user and ensure that the responsible card user benefits all year round. Risk-free travel It is safe to say that travelling across the world has become an effortless and common phenomenon. However, risk-free travel is hard to come by. As a responsible individual, you must invest in a credit card that initiates measures to protect you against unexpected situations that can occur during your travel. Sampath Infinite, Signature, Platinum and Gold cardholders are offered a free overseas travel insurance policy, giving them the peace of mind to experience the wonders of the world at their leisure. Responsible cardholders must also keep a close eye on transactions to ensure higher security. Sampath Cards’ free SMS alert facility is a system wherein credit cardholders are informed on their credit card activities via instant SMS. Furthermore, in line with our aspiration to make the world a greener place, Sampath Cards also offers the convenience of a free e-statement facility, thereby eliminating all inconveniences associated with receiving a physical statement at the end of the month. Sampath credit cardholders can now go through their transactions and monthly statements at anytime from anywhere just by moving their fingertips. Customer convenience Taking into account the other avenues that can be enhanced to give more convenience to the card holder, Sampath Cards gives the opportunity to select a due date of the cardholder’s choice, enabling them to strike an affordable balance between their income and expenses. Needless to say, this makes room for the responsible cardholders to effectively manage his/her finances and get the best out of credit card. In the same way, Sampath Cards have given the opportunity for the cardholder to choose a credit limit for the supplementary card they wish to get for their spouse/children, etc. Responsibly managing their personal finances is the biggest challenge most credit cardholders deal with in their day-to-day lives. The ideal credit card will assist its user to do just this. If your choice is responsible, it will not only add more convenience to your life, but also be a partner in your journey of success. (The writer is Deputy General Manager, Marketing and Business Development, Sampath Bank PLC.)