Credit Card Rewards

Credit Card Rewards

Credit card users often avail heavy discounts on travel bookings and other purchases. Certain purchases allow users to earn numerous credit points at one go. Hence, knowing the right way of using a credit card can lead you to save considerably on your spending.

Here are a few tips for you to consider 

  • Pick a suitable credit card

This is the foremost of steps which an individual needs to take. Choosing a regular credit card will offer a 1% cashback on every purchase. Some of them can also go up to awarding a 1.5 to 2% cashback on general purchases. Picking the right credit card that offers at least 1.5% on every spending will be an apt choice to go for. However, there are certain other trade-offs you need to consider keeping aside the percentage. Bottom-line, the card which comes with a higher cashback percentage generally proves to be a lucrative deal.

  • Try getting speciality cards

There are credit cards which often provide bonus points if you purchase at specific places like a departmental store or say the gas station. You can pick up these cards by deciding which one fits your regular purchases. People usually go for the highest pay-off ones.

Note: if a card pays you 3% at the supermarket then you can estimate your spending on the annual grocery buys and multiply it by 0.03 to see how much you will earn back every year. Use this method to compare and pick the best card for yourself.

  • Use your credit card for big purchases

Want to reap substantial reward points? It is the big purchases that help you unravel the huge bonus points. Whether it is for higher education, buying an expensive car or any high-ended purchase, a credit card can shower you with a considerable chunk of reward points.

  • Study the bonus categories

Understanding what all perks are included in the bonus category of your credit card is a pertinent issue. The companies use marketing titles for their bonuses, and you need to know them in detail.

  • Sign up for bonus points

Many credit cards offer their users a welcome gift of up to 20,000 reward points like the Bajaj Finserv RBL Bank SuperCard. One can redeem these reward points for travel vouchers, shopping vouchers, etc. So, choose a card offering maximum bonus points.

Moreover, some credit cards allow conversion of purchases into easy EMIs against a nominal processing fee. While choosing the credit card of your choice, you must thoroughly check the terms and conditions about EMI conversion rates and charges.

Availing credit cards need applicants to cater to specific eligibility criteria. Selecting the lender with minimum eligibility requirements can speed up the process of sanctioning. If you follow these tips, having a credit card in your pocket will definitely prove to be a smart choice.

NBFCs like Bajaj Finserv also offer you pre-approved offers on credit cards, home loans, personal loans, business loans and more, thus simplifying your purchasing process to a great deal!