42% credit card users spent over `50K this Diwali

Hyderabad: Festive spending reached new highs this Diwali, with more than 42% of credit card users spending over Rs50,000, according to a survey by Paisabazaar, India’s leading marketplace for consumer credit and financial products. The survey, conducted among 2,300 respondents, highlights a clear trend towards high-value, reward-driven festive purchases. While 22% of respondents spent betweenRs50,000 and Rs1 lakh, 20% reported spends exceeding Rs1 lakh on their credit cards during the festival season. The top spend categories included home appliances (25%), mobiles, gadgets & accessories (23%), and apparel (22%), followed by furniture and décor (18%) and gold & jewellery (12%). Reflecting the growing influence of offers and rewards, 91% of respondents said they planned their festive purchases around credit card deals, while fewer than 10% shopped without waiting for specific offers. The findings underscore the emergence of a more value-conscious and strategic consumer, aligning big-ticket purchases with maximum benefits.

Commenting on the trend, Santosh Agarwal, CEO, Paisabazaar, said, “The surge in high-ticket festive purchases through credit cards reflects a growing affinity towards value and convenience. Consumers are using credit cards more strategically, timing their big-ticket buys to coincide with festive deals and card-specific rewards.”

Among the various incentives, cashback remained the most preferred benefit (20%), followed by co-branded offers (19%) and accelerated reward points (18%).