Creating and maintaining a budget is essential to saving money and living your life to the fullest. If you are a credit card user, then using your issuer’s mobile app can be beneficial for financial management. With the help of a credit card app, you can easily:
- Track your expenses anytime, anywhere
- Know where you are spending more
- Set a spending limit and get alerts when you are about to reach it
- Get an analysis of your monthly spends
- Look over rewards or cashback earned on each transaction
What Are The Advantages Of Credit Card Apps?
From paying your daily bills to monitoring expenses, you can do it all with the help of a credit card app. To help you track every tiny expense and save more, having a card app on your mobile is very useful.
Monitoring your spending using a credit card app is a great method to manage your money, avoid debt, and make wise financial choices. By using the features of these apps, you can get more control over your purchases, achieve financial goals, and enjoy a safe and hassle-free credit card experience.
Here are some advantages of using a credit card app:
- Get alerts when you make a transaction that exceeds your budget.
- Get access to your card statement anytime.
- Check your spending across various categories like groceries, travel, dining, shopping, entertainment, etc.
- Access additional safety and security at your fingertips, as you can block or deactivate a lost or stolen card in just a few taps.
- Receive payment reminders to avoid interest charges and late fees.
Steps To Budget Better Using Your Card App
Before relying on your credit card app for budgeting, create a smart savings and spending plan. Calculate fixed expenses like your EMIs, rent, fees, utility bills, etc. Then, set your planned expenditure for a month under each category.
Now you can follow the below-mentioned steps to track your transactions efficiently with a credit card app.
- Download App And Link Your Card
After downloading the app associated with your issuer, link your credit card with it. Log in with your credentials and complete the registration process.
- Enable Notifications
Get real-time alerts for each and every payment made with your credit card. This will help you be aware of your spending habits.
You will also be notified about bill payments, and this will ensure that you don’t end up paying late fees.
- Set a Spending Limit
Set your monthly spending budget and get alerts when you are nearing your limit.
For instance, if your salary is ₹50,000, set the spending limit amount up to one-third of it, or any amount you can pay off with ease in the next month. Keep in mind that this amount should be exclusive of the fixed obligations you have every month.
- Review Your Card Statement and Set Category-Based Limit
Analyse your credit card statement and understand your expenditure over time. You can also monitor if any suspicious transactions have been made using your card.
Your card statement also helps you know the categories where you are spending most and least. Then, set your category-wise spending limit. Learn how to save more by managing your expenditures in a specific category.
- Look For Offers, Rewards And Cashback
Card issuers offer multiple benefits that help you save more. They give reward points, cashback, exciting discounts, and more. Sometimes, these offers are category-specific. Rather than spending to get rewards, match the rewards with your spending habits with the right card.
A card that provides great offers in every category is the One Credit Card. When you shop, dine, or travel, pay using this card and get rewarded with cashback and flat discounts. For instance, you can get:
- Up to ₹50 off if you order groceries on Zepto
- Up to ₹60 off when you order food on Swiggy
- ₹5,000 off on selected OnePlus variants
- Up to 15% off* on your travel bookings made through MakeMyTrip
- 5% instant discount* on Amazon bills
- 20% instant discount* on medicines
The powerful One Credit Card App can help you efficiently track and manage your budget with:
- Visual analysis of your spending
- Category-wise analysis of your expenses
- Merchant-wise spending details
- Option to set an overall monthly budget
- Feature to set spending limit category-wise
- Alerts when you exceed the monthly budget
That’s not all. The One Credit Card also comes with zero joining and annual fees. Moreover, you can earn up to 5X rewards on the top two spend categories every month, and you don’t have to pay any fee to redeem your points. What’s more, you have the freedom to convert your large purchases into budget-friendly EMIs. Apply now for a card to enjoy 80+ offers*, cashback, rewards and spend confidently using the app.