Certain
banking cards like the credit card aren’t only designed to make transactions
convenient. With the right strategic decision, you can use it to reap valuable
rewards and perks. Some of these rewards you will not get with physical cash.
Here
are a few tips that will help you make the most of the rewards you generate
from your credit card.
Opt
for reward credit cards based on your lifestyles
Every
individual has different financial requirements. Therefore, a standard reward
program would not benefit every individual. In this case, you will need to see
how much you spend on different categories. For example, if you shop at a
particular retailer, you can use certain credit cards at these places. This is
also applicable for online shopping and frequent travelers amongst many other
categories. In these cases, you can apply for rewards that will get you extra
reward points that can be redeemed for items in the same category.
Alternatively, you can also get other forms of rewards such as free hotel stays
of companion plane tickets.
Opt
for cash back shopping portals
Anytime
you shop online, you will earn certain features such as extra points, miles or
cash back. What no many individuals don’t know is that your credit card bank
has its own shopping portal. Through this, you can start your shopping spree,
especially through certain cash back sites. Cash back sites such as Cashkaro,
LafaLafa and Gopaisa will offer you great cashback rewards anytime you want to
shop.
Know
your reward categories
Not
many are aware that there are different reward categories for a credit card. As
mentioned previously, each individual often possesses a different financial
requirement. Therefore, if you are collecting reward points during your
expenditures, you must check the different reward point categories you are
eligible for. In this way, you can ensure that you get the most of your
expenditures in terms of your reward points.
Drop
the annual free
Certain
reward credit cards often charge annual fees. Credit cards such as the travel
reward cards are one such example. Although the benefits of these cards are
worth it, it would be double the worth if you manage to waive the annual fee.
Do contact you credit card bank to know the ideal process to waive your annual
fees.
Apply
for a credit card during the biggest bonus periods
It
is not uncommon for credit card companies to offer to sign up bonuses to those
who are applying for credit cards. These sign-up bonuses can be worth thousands.
When you time your credit card application at this time, you can make the most
of your bonus sign up, especially against the normal sign up bonus.
