Credit cards have become one of the most attractive options for people, primarily because of the plethora of rewards they offer. Different credit cards offer different privileges. Some offer reward points, some offer vouchers while others offer cashback for every transaction made on the credit card. Depending on your spending pattern, financial situation and overall taste, you can choose the best reward for you. Here is a guide to help you with the selection process.
Credit cards with reward points offer points for every transaction made using the card. Credit cards also offer accelerated rewards for different types of transactions, such as online, offline, and fuel transactions. If you are wondering how to use credit card reward points, they can be redeemed for various options, including gifts, vouchers, cashback, and more.
Vouchers are also a popular reward offered by credit cards. Credit cards offer different vouchers like fuel vouchers, gym vouchers and shopping vouchers on every transaction. These rewards can be used at different places to get goods or services for free.
Certain credit cards offer cashbacks for every transaction you make. This is usually a certain percentage of the total transaction amount. Cashbacks are most appealing for people who do not gain much from the reward point redemptions or vouchers.
Choosing a credit card with the right reward is not easy. However, if you analyse your spending patterns and see what kind of rewards bring the most value to you, you will be able to find the right reward for you.
Not all credit cards offer different kinds of rewards for you to enjoy. The Fi-Federal Credit Card is one such exception that you should take advantage of.
If you're looking for a credit card that gives you the best bang for your buck, try the Fi-Federal Credit Card. This might just be what you need. With this card, you're assured of a 2% valueback through rewards. But that's not all, as you'll also get 5x on your top 3 brands, 2x on all partner brands, and 1x on everything else, including rent and fuel. What's unique about Fi Money is that you earn points in the form of Fi-Coins, our very own reward system. For travellers, the perks are even better as you can convert your Fi-Coins to airline miles or cashback.
If you do not find much value in the reward point redemptions, it is better to opt for cashback rewards. However, points do have the potential to give you much higher value rewards.
Cashbacks can sometimes not give you as much value as some reward point redemptions or vouchers can.
The three main types of credit card rewards are:
You can use a credit card with rewards for all daily as well as big transactions. This way you can accrue rewards and make big savings on all your spending.
