What is the one thing you like about credit cards? Most of you would say the cash back and reward points. Credit card is the best pal of most GenZ for various reasons, with reward points being one of the crucial reasons. The top one is, it is a good means to save funds when used in a smart manner. Mentioned here are the best ways to maximising the rewards on your credit cards.
Select the correct credit card –
Opt for a credit card that matches your spending habits. So, you must ensure to review your expenditures to find out where you must spend most and seek cards that provide the maximum value. For instance, if you are looking for a card that can help you get maximum lifestyle benefits, in the form of free Amazon vouchers, complimentary priority pass visits, complimentary golf rounds, etc. then you can opt for an Axis Bank Select Credit Card or Axis Bank MY Zone credit card. However, in the case, you are looking for a travel-specific credit card, then you must opt for Axis Bank Vistara Signature, Air India SBI Signature, etc.
Use your credit card every day –
Make use of your credit card for meeting your daily expenditures like groceries, utility bills, and lifestyle expenses to earn maximum rewards. Just make sure you just spend as per your affordability so that you can repay the same in totality monthly without any extra penalties and charges.
Use your credit card for meeting big-ticket expenses –
Are you planning out a vacation or a big-ticket purchase? Your credit card not just lends you a good helping hand but even assists you to earn high returns. Just make sure you repay the balance in totality and timely so that you do not attract late payment charges and interest.
Factor in referral programs –
Many card issuers come up with attractive referral programs. It is very simple to get all the benefits. All you must do is share the referral link with your pal and once your pal joins the credit card, the rewards get parked to your bank account.
Also Check: Axis Bank MY Zone credit card
Additional spending bonuses –
Most credit card issuers tend to provide periodic rewards in specific categories. For instance, One Card credit card provides 5x rewards on your top spending categories. All you must do is spend in the categories of your preference to get the benefit.
Be assured, with a credit card, you can even plan out your entire vacation trip. When you make use of the correct credit card wisely, then you can collect adequate rewards to avail free hotel stays and flight tickets. Not just this, a few credit cards endow you with the advantage in the form of cash back as well as discounts. A major key is to figure out the best card according to your expenses and lifestyle. For example, if you want to travel by a 4-wheeler a considerable distance, then you can use a fuel card to earn maximum benefits on every penny you spend on fuel.
However, do not stress in case you do not know where you must begin. Here’s a list of ideal reward credit cards you can opt for –
SBI SimplyCLICK card –
Are you one of those who is an online shopper with parcels coming in periodically? If yes, then you can opt for an SBI SimplyCLICK card. This card can endow you with 10 X rewards for the fund you spend on online websites like BookMyShow, Amazon, Lenskart, Cleartrip and Netmeds. Note that for online transactions, the card endows you with 5 x rewards.
What are the features?
- A clear trip voucher equalingRs 2,000 on annual spending of Rs 1 lakh and next on Rs 2 lakh.
- 1 per cent waiver on fuel surcharge for every transaction from Rs 500 to Rs 3,000.
- Earn the highest reward points of 10,000 in a month.
Annual charge – Rs 499, may be waived off if you spend Rs 1 lakh annually through the credit card.
American Express membership credit card –
American Express membership rewards card is nothing but a coveted credit card best for individuals who make use of the card extensively for the purpose of making payments. This is a credit card with a high renewal charge; thus, it is recommended to opt for this credit card just when your expenditures are sufficient so that you can reap higher benefits than the annual and renewal charge that you pay.
What are the features?
- Earn aRs 1 membership reward on every Rs 50 spent except for the expenditures on insurance, fuel, EMI conversion, cash transactions, and utilities, at the POS (point of sale).
- A welcome bonus equalingRs 4,000 reward points.
- Get 1,000 bonus reward points on using the credit card 4 times for monthly transactions equalingRs 1,000 and more.
- Get membership reward points of 5,000 when you renew the credit card post-first year.
- Post accumulating reward points equaling 18,000, you can select one of the following – a Taj hotel voucher equalingRs 9,000 or an American Express travel e-voucher equalingRs 7,000 or an Amazon e-voucher equalingRs 7,000 or a credit statement equalingRs 6,000.
- Post accumulating reward points of 24,000, you can choose one of the credit card benefits, which include a Taj voucher equalingRs 14,000 or a Tanishq voucher equalingRs 10,000, etc.
Annual charge – Rs 1,000 in the initial year and for the next year at an annual charge of Rs 4,500, which may be waived off on an annual expenditure of Rs 1.50 lakh.
Standard Chartered Manhattan credit card –
Standard Chartered Manhattan card endows instant cashback on grocery buys in supermarkets and is best for families. The credit card is loaded with various other advantages that make this one of the most competitive credit cards currently in the market.
What are the features?
- Earn 5 per cent cashback on your expenditure in supermarkets.
- Get 3 X rewards for all buys.
- Enjoy several other discounts and offers as you travel, shop, and dine.
- Redeem the rewards for exciting gifts for your family and yourself.