5 Exciting ways to use your Credit Card Reward Points
Do you have reward points on your credit card? And don’t know how to use them. While credit cards offer many benefits, its point system is one of the best. But what good are points if you can’t use them. Check out these five exciting ways to effectively use your accumulated points.
A credit card is a multi-benefit financial product. You can not only make easy purchases at credit, but you can also enhance your credit score through their smart use. Another fascinating aspect of credit cards is their reward points that you earn for every time you pay through your card. Usually, this rewarding system is based on the card usage frequency, the value of the purchase made, repayment attitude of the customer, and others visit the country spain .
After you have accumulated a pre-defined number of reward points, you are qualified to use them on products and services as allowed by your bank. Here are five fantastic ways you can use your reward points earned:
Your bank can allow you to exchange your reward points for gift cards. Based on the brand partnerships of your bank, you can use the gift cards to make purchases online or at the stores of their associated organisations. Also, you can even gift these vouchers to your friends and family members looking to buy any product.
Cash and Cash Backs
You can get your reward points exchanged for cash. This cash will be directly transferred to your credit card account. You can use the money disbursed to make payments easily or, settle your credit card bill. Based on your bank another way you may exercise your reward points is by opting for cash backs.
The next time you will purchase and pay through your credit card, a section of the payable amount generated will be returned back to you in the form of cashback. The cashback depends on the value of reward points against fiat money.
Products and Services
Your credit card issuers can offer you a bunch of products and services which you can access by redeeming your rewards point. These might include any daily-use products, and any entertainment service like movie tickets, spa sessions, and others.
Your reward points can also cover your hotel and accommodation charges when you travel next time. You can exchange your reward points to get a discount or waiver on your stay fare at hotels associated with your banks.
If you are an avid traveller, then you can convert your credit card reward points to air miles. Several banks in association with travel loyalty programs allow conversion of your reward points to air miles. Moreover, some of these also give you lounge access to airports across the world. So what’s in it for you? The next time you need to travel, you can smoothly use your air miles or get a discount on your flight tickets and pamper yourself at the lounge before you catch your flight.
Choose a Co-brand Credit Card
If this has got you excited, and you don’t have a credit card yet, get searching and apply one for yourself. While there are many types of credit cards, choose one that has low or zero maintenance fees, especially when you’re just a novice. Opt for a co-brand credit card that allows you to earn miles for every rupee spent through the card. You can use these miles for a host of travel and non-travel benefits such as flight tickets, hotel reservations, dinners, refuelling your car, shopping online, etc.