Apart from being the preferred ‘buy now pay later’ payment instrument, credit cards are famous for their rewards. Credit card rewards include freebies, gifts, cashback, or vouchers offered in exchange for transactions made using the card. While rewards offered by cards may vary, they remain sure-shot tools to maximise benefits from the card.
Every purchase you make using the card is rewarded with points. When stacked up, these points can be used to claim various benefits - from air miles and merchandise to cashback. Apart from expense rewards, the best rewards credit cards offer welcome bonuses and renewal rewards to increase sign-ups. Some credit card issuers provide an extensive catalogue of reward point categories to choose a reward you like.
You might wonder, ‘how do credit card rewards help me?’ Well, the rationale behind credit card rewards is simple. Reward points help you claim rebates and discounts on purchases. So collecting more rewards and claiming them might lower your future shopping expenses. Additionally, since more transactions equal more rewards, you’ll be more likely to use your credit card for purchases. This system makes you swipe your card more.
If you’re looking for the best credit card for reward points, you should review the following -
While credit card rewards bring you tons of exciting perks, reading the fine print attached to these rewards is essential to make the most out of them. For instance, some credit card reward points have an expiration date and must be used within their validity period. Similarly, depending on your credit card issuer, you may face a monthly or yearly cap on reward points and pay a redemption fee to claim your rewards.
While credit card rewards can be used to your advantage, you shouldn’t overspend just to collect more rewards. Doing so can lead to piling dues and missed payments, affecting your credit score. With Fi Money, you can get a credit card that gives you as much as 5X the value of your spends as rewards, as well as the flexibility to choose the rewards by redeeming those reward points.
Air miles, hotel bookings, merchandise purchases, gift vouchers, and cashback are common examples of credit card rewards.
Credit card rewards are perks card issuers offer for using the card to make purchases. Thus, every time you use the card, you earn reward points. You earn reward points which can then be used to claim rewards from a variety of categories like shopping, travel, bookings, etc.