How to Avail Maximum Credit Card Benefits and Cashback?

Credit cards in India have become one of the most vital financial tools for people. Now, with a credit card, people can pay for all their expenses even without having balance in your savings bank account. What’s more, they can also pay the credit card bill after 40-50 days after making the transactions.

Credit card offers the benefits of paying in easy instalments in case of a big-ticket transaction also. As a result, it helps to manage your monthly expenses without issues.

Even though a credit card offers so many advantages, not many users know how to maximize its benefits. Here is a quick post to help you make the most of the credit card benefits. Read on! 

1. Sign up for bonuses

Applying and signing up for some types of credit cards can help you earn maximum reward points. It’s a competitive market today, and you may find many credit card companies with such offers. Hence, before you opt for credit cards in India, ensure to sign for a company offering the maximum bonus and reward points.

A lender such as the Bajaj Finserv comes with the Bajaj Finserv RBL Bank SuperCard to offer you 20,000 reward points as a welcome bonus on sign up. You can apply for such offers to redeem reward points for availing discounts and deals on future purchases. 

2. Categorize the spending

Some credit card companies may offer you some enhanced benefits while spending on your credit card during a particular month. They may provide you with more reward points if you spend in a certain month or go for movies. Such offers may reach you via email or text message in advance to make you aware. As a result, you can plan your purchases and help yourself earn maximum rewards on all such credit card offers. 

3. Shop online on your lender’s shopping portal

Nowadays, you may find many credit card issuing companies with their own online shopping portals. They can help you shop across multiple categories. When you shop for such portals, you may get more rewards than compared to shopping on regular websites. 

4. Use your credit card on a daily basis

You can also maximize your credit card benefits by using it for all your needs instead of using cash or debit cards. Yes, you may pocket more reward points and miles for making purchases on your credit cards instead of cash. Many people prefer using credit cards for daily purchases such as groceries and others. This way, they are not only able to clear the payment after 40-50 days and even maximize the rewards. 

5. Considerations to make

A majority of credit card issuers provide you with reward points. Hence, if you don’t use the facility wisely, not being responsible may weaken all the benefits. For example, carrying a balance on your credit card may lead you to pay a higher interest rate which will be more than what you stand to gain. What’s more, the habit of carrying a balance on your credit card can also affect your Credit Score. As a result, your probability of availing loans at a lower rate may also get affected. The other thing is that if you continue to increase your credit card expenditure just to earn rewards, you may fall in debt.

In the entire process of maximizing credit card offers, there are majorly three key factors to remember about the credit card rewards schemes. Let’s have a look.

• Credit card reward programs are created to help a credit card issuing company to earn money
• A credit card user should take out time to go through the fine print or terms and conditions. Doing the homework in advance and being aware of what you are getting into will help you manage it smartly
• And finally, always ensure to make payments on time as the failure to do so will also hit the rewards and your wallet as well

You are now aware of some of the ways you can maximize the credit cards in India. It is a good thing to earn rewards, cash back and redeem them later to get exclusive discounts on future transactions. However, to ensure earning higher rewards, you must not use your credit cards unnecessarily and fall into a debt trap.

Many lenders including Bajaj Finserv offers some pre-approved deals on credit cards, EMI finance, home loans, personal loans, business loans and more. Such deals aim to simplify the overall loan procedure and make it less time-consuming.

You can go ahead and share a few of your basic personal details such as your name and mobile number to check out your exclusive pre-approved loan offers today.