It begins with getting the right credit card and using it responsibly for every purchase. But you should also know about the benefits of your card. Be aware of the fine print on your credit card reward points can enable you to capitalise on all of their benefits. Several credit cards offer additional bag points for spends within a specific period. Make good use of the opportunity, but do not end up overspending. However, it is common for beginners to be unaware of how they can effectively use the reward points offered by their credit cards. Here are some tricks to help you maximise your reward points and make the most out of them. Wisely use your accelerated reward points and welcome points Some credit card companies offer welcome points as a joining reward - requiring you to spend a certain amount within a specified period to earn them. You may also earn additional points if your card offers accelerated reward points on certain types of expenses like utility bill payment, grocery, dining, and more. Keep your bonus categories in mind You don’t need to modify your spending to match the reward categories of your credit card. However, it does not hurt to remember the categories, especially if you own multiple credit cards. If one of your cards earns 5 percent at grocery stores while the others earn only 2 percent, go for the one with a higher return rate. Maximise your rewards points by availing limited period offers You can maximise your reward points by availing limited period offers that provide accelerated reward points. For instance, if a bank offers 15-20 reward points for shopping at departmental stores every Wednesday or double the reward points on weekends, then it is wise to use the card more on those days. Banks run limited period offers during festive seasons too. Earn more points by spending on special occasions. Redeem your points against benefits you want After accumulating reward points, do not forget to redeem them against benefits you like, such as DTH or mobile recharges, online gift vouchers, hotel, travel, bus bookings, flight tickets, and more. It can be done with just a few clicks online. Track your reward points Earning reward points is one of the best ways to minimise costs for your next expenditure. However, it may be difficult to keep track of how many points you have earned. Several banks offer a dedicated portal to help customers track their transaction-level point earnings. Use your reward points before they expire. Tapping into the hidden powers of your credit card can help you reap all the benefits.
