What do you attending for in a acclaim card? Some would say that they appetite a low anniversary fee or lifetime-free acclaim agenda admitting some would adopt cards with biking benefits. Very few attending at the accolade credibility that a agenda offers. However, accolade credibility additionally add abundant amount to a acclaim agenda and should be advised at the time of accepting a acclaim card. For example, some SBI acclaim cards action added rewards back you use them for advantage and authoritative abundance purchases while others offers added rewards on booking cine tickets.
So, how do you administer the use of your acclaim agenda so that you can optimize the rewards in the best accessible way? Let us apprentice about it.
1. Get the Appropriate Acclaim Card
The aboriginal footfall is to baddest the appropriate acclaim agenda afore you can accomplish use of its rewards. What may be a abundant agenda for addition may be a absolutely bad best for addition else. Best of the first-time users get a basal acclaim agenda afterwards absorption abundant on its perks. But back you alpha planning for application rewards, you charge to accept a agenda that offers added rewards for your admired spending. If you are a shopaholic, it is acceptable to get acclaim cards that action accelerated accolade balance on appearance brands or on all arcade spends. Never get a acclaim agenda that offers accomplished rewards on commodity that has no appliance in your life.
2. Get Assorted Acclaim Cards
It is difficult to acquisition one agenda that matches all your needs. Even if you acquisition one, the anniversary fee may be high. In such cases, accepting assorted acclaim cards is the best option. Several acclaim cards are accessible in the bazaar analogous altered needs of the customers. You aloof charge to acquisition the appropriate mix of acclaim cards. For a common movie-goer and an online arcade enthusiast, HSBC Platinum Acclaim Agenda and SBI SimplyCLICK would accomplish a acceptable combination.
3. Plan Your Expenses
Getting a acceptable agenda would be of no use if you put basal costs on it. The amount of accolade balance is apathetic so in adjustment to acquire added you will accept to absorb more. Plan your costs in a way that makes the best use of accelerated rewards. Let us accept this with the advice of an example.
Mr. X has three acclaim cards- HDFC MoneyBack, SBI SimplyCLICK and IndianOil Citi Platinum Acclaim Card. Accolade balance on these cards is accustomed in the table below-
HDFC MoneyBack Acclaim Card
2 Accolade Credibility per ₹ 150
2X Rewards on Online Spends
1 Accolade Point per ₹ 100
5X Accolade Point on online spends
10X Accolade Credibility on online purchases with accomplice brands
IndianOil Citi Platinum Acclaim Card
1 Turbo Point for every ₹ 150
2X Turbo Credibility on daily-need groceries
4X Turbo Credibility for ammunition purchases
The credibility on Citi acclaim agenda can be adapted anon into ammunition and there is added earning on ammunition expenses, appropriately the user should put all his ammunition amount on this card. SBI SimplyCLICK would be the best agenda for online costs abnormally back arcade with their accomplice brands. And for all added online costs both HDFC and SBI are good. For retail expenses, HDFC MoneyBack would be the best.
4. Don’t Balloon Account Rewards
Some cards action account rewards on extensive a spending milestone. You should accumulate clue of such account rewards so that it can be optimally utilized. Additionally bethink that accolade credibility usually accept a activity of two years and credibility that accept accumulated in aggregate at already can additionally be absent calmly if you do not redeem them afore their accomplishment date.
5. Apprentice about Hidden Allowances on Your Acclaim Card
Credit cards do not consistently accept hidden fees and charges, they additionally accept hidden benefits. As a acute user, you should accumulate clue of such offers and advance them for added rewards or absolute discounts. For example, on HDFC Regalia acclaim card, you can redeem the credibility anon at their website- https://hdfcbankregalia.myrewardz.com/. Here you can book airline tickets as able-bodied as hotels with their absolute partners. The amount of one accolade point is according to 50 paisa.
6. Don’t Absorb Aloof for Earning Rewards
Reward credibility are benign for users but they are absolutely meant to account the banks. The added you spend, the added will the coffer acquire in the anatomy of absorption and added fees and charges. So, you should not absorb aloof for the purpose of earning rewards; absorb alone on things that you need.
Above mentioned are the assorted means in which you can optimize the rewards on your acclaim card. However, there are a few things that you charge to accumulate in apperception about acclaim agenda rewards program-
Although rewards are acceptable for anybody but the best use of it will be fabricated by those who plan and strategize their amount in band with the rewards program. Follow the strategies mentioned aloft to accomplish the best of your accolade points. Accumulate yourself adapted with any blazon of changes in the agreement and altitude accompanying to your acclaim card’s rewards program.
This commodity does not necessarily reflect the opinions of the editors or administration of EconoTimes
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