How To Get The Credit Card With Most Rewards
How do you make your credit card reward points more meaningful by choosing the right credit card? A step-by-step approach.Welcome to FundooMoney, your 24X7 buddy for all your money matters. Your credit card may offer you major amount of reward points but those could be useless if they don’t translate into meaningful rewards. You can make your credit card reward points more meaningful if choose the right credit card. We tell you how. But that’s coming up shortly. Here is how you can easily make out if your card is offering best rewards.Assess the reward tie ups A credit card reward programme would only be useful for you if it offers rewards for things you purchase. Make sure that the credit card that you take has a rewards programme that’s suitable for your spending behaviour.Check the reward rateThis is the number of credit card reward points accumulated for Rs 100 spent on the credit card for a specific use. Most of the credit cards offer higher reward points or accelerated reward points for specific purchases or usages. So, go for a credit card which pays higher reward points for things you typically spend on.Determine the rupee value of the rewardBesides reward points, you need to determine the value of those points in rupee. That will give you the true picture. For this, you may refer to the catalogue for credit card reward redemption. It should inform you about the reward points required to buy a product. You can compare it with the price in the market to get the value of the reward points in rupees.Number of conversion optionsReward redemption is mostly done by purchasing a product or a gift voucher. Ensure that the credit card has more redemption choices that also suit your spending pattern.
We hope you found this useful. What are the other things people should keep in mind while is looking for a suitable rewards programme in the credit card selection process? Please share your tips with us and others in the channel by writing in the comments section. For more such actionable personal finance information and regular uploads, subscribe to our channel. Also, visit our website, download our mobile app and stay connected with us on Instagram, Pinterest and Slideshare.
