Wedding budget blues? Don't let credit card shopping steal your joy

livemint.com:

Establishing credit: Ensuring timely payments with your credit card stands as one of the most effective methods to cultivate a favourable credit score. This practice can lead to cost savings on loans, insurance, and potentially even future rent. Timely credit card payments play a pivotal role in constructing a positive credit score, unlocking a realm of financial advantages.

Primarily, payment history holds substantial weight in credit score computations, usually accounting for approximately 35 per cent. A consistent record of punctual payments showcases your creditworthiness and dependability, resulting in a favourable score boost. Conversely, tardy payments can substantially impair your score, complicating eligibility for loans, insurance, or even future rental arrangements.

Rewards and cashback: Numerous credit cards provide rewards programs that grant points, miles, or cashback based on your expenditures. These benefits can accumulate swiftly, particularly when utilizing your card for day-to-day expenses. The allure of reward programs can be irresistible, especially as you witness the accumulation of points or cashback.

It feels like obtaining free money by merely using your credit card for everyday transactions. Consider, for instance, credit cardholders gaining points, the most prevalent type of reward, acquired across diverse spending categories. These points can be redeemed for travel, gift cards, merchandise, or even applied as statement credits.