India has witnessed a significant rise in the number of credit card users over the past few years. Credit cards are gaining popularity due to the wide range of benefits they offer, such as reward points. Redeeming the obtained reward points enables a user to avail huge discounts and other benefits on various transactions.
There are a lot of ways in which a user can gain reward points. Prudent card-holders can maximise these reward points so that they can avail discounts on future transactions.
Here are the 7 ways in which a cardholder can score more reward points.
Avail the right card
Financial institutions may offer reward programs in many forms. A user must know how to choose the right credit card to avail maximum benefits. For instance, if a user is likely to use a card recurrently to pay fuel bills, then a fuel card is an ideal option as it provides high reward points on such transactions.
Similarly, a user who is more likely to use a card to fund travel expenses can opt for a travel card. These cards provide reward points or travel miles on purchase of flight tickets which can later be used to avail discounts on future ticket purchases and hotel bookings.
Sign up at the right time to avail maximum joining bonus
Most card companies release a limited offer period when the joining bonus is generally higher for users. They also offer additional incentives to increase their customer base. Users should cash on these opportunities and avail cards on such periods to avail up to 20,000 credit card reward points.
Pay utility bills
Some cards offer significantly high reward points on utility bill payments. These rewards can usually be obtained if a user opts for standing instructions on bill payments. Standing instructions automatically charge a card for the necessary bill payments as per a specific date of every month.
Direct all of your expenses to one credit card
Users with multiple cards can redirect all of their expenses on one card to avail maximum reward points. Financial institutions usually provide high reward points for users who reach a milestone of expenses with their cards.
Credit card like Bajaj Finserv RBL Bank SuperCard, offers 20,000 reward points when a user spends Rs. 3 Lakh in a year. Some of the other benefits they offer include-
- Zero-interest ATM cash withdrawal
- Personal loans for emergencies with no interest up to 90 days
Shop from partner retailers
Financial institutions usually partners will retailers, most of which are online. Users can shop from those specific retailers to earn reward points, which is often a lot higher than shopping from other general retailers.
Redeem points strategically
Saving reward points is one common mistake that most cardholders make. Reward points come with an expiry date. Users must continuously check it so that they do not miss out on availing the benefits of those reward points. Also, the card issuers keep changing the points required to avail different types of discounts. So, the points tend to lose their value if they are accumulated over a period.
Avail loyalty bonus and additional rewards from supplementary cards
Card issuers also offer significant reward points for loyal customers. Cardholders can get huge reward points by just renewing their card. Also, a holder can get bonus reward points by availing supplementary cards for family members. They procure reward points for every transaction made with the supplementary cards.
Card-holder should know how to use a credit card to avail maximum reward points. Also, repay your debt in time to enjoy the maximum benefits out of your card.
