Credit card rewards are undeniably popular, offering enticing benefits and irresistible returns. However, to fully capitalise on these rewards, it’s essential to manage your loyalty points wisely and identify opportunities for maximum value. As a credit card holder, you earn cash in the form of rewards, benefits and perks. It is crucial to utilise these rewards to effectively unlock their total worth.

To help you navigate the world of credit card rewards, we have curated a set of expert tips and advice. By following these recommendations, you can optimise your rewards and avoid common pitfalls.

10 ways to utilise credit card rewards

1. Choose the right credit cards

When it comes to optimising credit card rewards, you must apply for a credit card that aligns with your spending habits. For instance, a diner credit card will greatly benefit those who like visiting diners and restaurants regularly and trying new delicacies. Similarly, a shopping benefit credit card is much beneficial for individuals who use credit cards for their shopping expenses.

With a sense of purpose, you can compile a list of what you need and reach for the trusted IndusInd Bank Legend Credit Card. Off you go, embarking on a shopping adventure. For every transaction worth ₹100, you receive a generous reward of 1 point with the IndusInd Legend Card double reward points in weekends

Another option is to apply for the IndusInd Bank EazyDiner Credit Card. This card is extremely beneficial for people who like going out, rewarding an astonishing 10 points for every ₹100 spent on dining, shopping and entertainment

In this game of maximising rewards, every decision counts. Therefore, it pays to plan properly and make the most of your credit card choices.

2. Earn the welcome bonus

Credit cards often entice new customers with attractive welcome bonuses. These bonuses can be earned by reaching a specific spending threshold. While these rewards offer attractive benefits in terms of rewards, it is important to exercise caution to avoid overspending solely to claim these rewards.

While the charm of bonus points may be appealing, it is crucial to maintain a balanced approach to personal finances and make wise spending choices that align with your financial objectives. By being mindful of this potential pitfall, you can reap the rewards of welcome bonuses without jeopardising your long-term financial stability.

3. Consider credit cards with a flexible reward program

When it comes to choosing credit card rewards, it is important to consider the ease of redemption. You certainly would not want to get stuck with rewards that are difficult to redeem. If you prefer the convenience of cashback, take a closer look at the card’s terms and conditions.

Check if there’s a minimum redemption requirement and whether you have the flexibility to use your cashback rewards in a way that suits you best.

IndusInd Bank Credit Cards allow you the flexibility to convert your reward points into cash to pay for credit card bill payments, effectively reducing your outstanding balance.

4. Check for limited-time offers

Are you making the most of the limited-time offers provided by your card issuer? If not, it is time to ensure that you have signed up for their marketing emails. By doing so, you can stay up-to-date with the latest news and be the first to know about the fantastic opportunities to maximise your rewards.

These special offers often come and go quickly; therefore, it is essential to seize them while they are available. They present an excellent chance for you to optimise your rewards and reap the benefits of elevated rewards rates. By being proactive and staying informed through marketing emails, you will never miss out on such valuable opportunities.

5. Combine your points

If you happen to possess multiple cards from a single card issuer, there is a wonderful opportunity to consolidate your rewards. This allows you to combine your points and enjoy a more substantial reward.

Usually, it is feasible to transfer or merge rewards between cards issued by the same provider and within the same category of cards, such as from one point card to another.

By taking advantage of this option, you can maximise the benefits of your credit cards. Consolidating your rewards enables you to pool your points together, amplifying their value and opening up the possibility of redeeming them for even more exciting rewards.

6. Pay your bill on time

Never underestimate the impact of paying your bills on time when it comes to improving your credit score and getting the most out of your credit card rewards. It is a key factor in maintaining a healthy credit score and reaping the full benefits of your credit card.

Carrying a balance can easily wipe out any gains you make from the rewards offered by your card. To ensure that you do not miss out on rewards and avoid accumulating debt, it is essential to pay off your full statement balance each billing cycle.

7. Cash in your air miles

Imagine having a credit card that not only rewards you for your spending but also gives you the incredible opportunity to turn those rewards into air miles for your favourite frequent flyer program. It is like having a secret gateway to free flights and unforgettable travel experiences!

With these credit cards, you have the power to convert your hard-earned reward points into air miles. Note that the conversion process is based on a predetermined ratio. This means that for every certain number of reward points you accumulate, you can exchange them for a corresponding amount of air miles.

Once you have converted your reward points into air miles, a whole world of possibilities opens up before you. You can use those air miles to book flight ticket using your air miles.

8. Avail of hotel loyalty programs

If you are looking to have a fantastic vacation without spending too much, this is a clever trick you can use. Take advantage of your credit card reward points by transferring them to a hotel loyalty program alongside a frequent flyer program. This way, you can make the most of your points and enjoy some amazing benefits.

You can choose from a wide range of hotels and resorts, and enjoy their luxurious amenities without spending a lot of money out of your pocket. Whether you are dreaming of a relaxing beach getaway or an adventurous city escape, the possibilities are endless.

9. Pay using points

Certain credit cards offer the option to utilise your reward points for online purchases, effectively paying for them. The value you can get per reward point typically ranges from ₹0.20 to ₹0.25. With IndusInd Legend Credit Card, 1 Reward Point =  ₹0.75 of cash value

This enables you to save money while enjoying the convenience of redeeming your accumulated points for tangible benefits.

10. Always compare the redemption options

To maximise the value of your rewards, consider exploring alternative redemption options before claiming your points. Transferring your reward points to other redemption choices might benefit you more than redeeming them directly.

By taking this approach, you can ensure that you make the most of your rewards and optimise their value.

In Summary

It is important to have a clear goal in mind when using your credit card to maximise the value of the rewards you earn. By doing this, you ensure that you make the most of your credit card rewards.

If utilised properly, credit cards can offer a plethora of benefits. It is easy to apply for IndusInd Bank Credit Cards via a completely digital process. If you are looking for a credit card with numerous privileges such as shopping, entertainment, travel and lifestyle benefits, IndusInd Bank offers solutions for all your credit card requirements. Apply now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

Running a successful business demands constant innovation, a keen eye for opportunities, and astute financial management. In today’s competitive business landscape, the importance of efficient financial tools cannot be overstated. A credit card is one such tool that can significantly contribute to your entrepreneurial journey. It can provide financial flexibility, help build a favourable credit history, and offer a variety of reward programmes that can contribute positively to your business growth.

Often underestimated, a credit card isn’t just about the convenience of cashless transactions or the extension of a credit line. It is an integral financial management tool that can help you separate your business and personal expenses, keep track of your expenditures, and even aid in the preparation of tax returns. Whether you’re a start-up entrepreneur or an established businessperson, understanding the potential benefits of a credit card can open new avenues for growth and success. This article delves into how you can leverage credit cards to your advantage, and why they are a must-have for every entrepreneur.

Financial flexibility and cash flow management

The major benefit of a credit card is the financial flexibility it provides. There can be times when your business encounters unforeseen expenses or when revenue is slow to arrive. A credit card allows you to manage these situations effectively, providing a revolving line of credit that you can utilise for such expenses.

Credit cards offer an excellent way to manage cash flow. They enable you to extend your payables period, buying you some extra time until revenues come in. It’s like having a short-term loan facility at your disposal, whenever you need it.

A credit card can help provide financial flexibility, essentially acting as an interest-free, short-term loan. For instance, if your business requires urgent funds to restock inventory or cover unexpected costs, IndusInd Bank Platinum Visa Credit Card can prove invaluable. With the facility to pay back the borrowed amount in easy instalments, managing your cash flow becomes hassle-free.

Building credit history

As you continually use your credit card and consistently pay off your balances, you start building a credit history for your business. This is important when you need to apply for a large loan or credit facility in the future. Lenders will be more willing to lend to those  that have demonstrated creditworthiness.

Using a credit card regularly and responsibly can help establish a solid credit history. Choose IndusInd Bank Legend Credit Card for your business transactions and ensure that you pay off your balances consistently. Over time, you’ll create a positive credit history, which will showcase your business’s financial discipline and creditworthiness.

Robust reward programmes

A standout feature of IndusInd Bank Credit Cards is the generous rewards programmes they offer. What’s more, these reward points never expire, which means you can accumulate them over time and redeem them when you wish to. This can translate into significant savings for your business.

The reward points can be converted into cash, which can then be used to pay your credit card bills. In essence, every time you spend using your credit card, you’re effectively earning money back. With a completely digital process, it’s never been easier to manage your rewards and use them to your advantage.

For instance, with the EazyDiner Credit Card from IndusInd Bank, you can enjoy exclusive dining experiences and rewards on your next business meeting. If you frequently travel for business, the Club Vistara Explorer Credit Card is an excellent choice. With this card, you can earn Club Vistara points on all spends, which can be redeemed for free flights and upgrades. This can make your business travels more rewarding and less expensive.

Lifetime free benefits

IndusInd Bank offers certain credit cards with lifetime free benefits. This means there are no joining or annual fees attached to these cards. This not only saves you money but also offers peace of mind, knowing that you can enjoy the advantages of a credit card without worrying about additional costs.

IndusInd Bank offers Instant Credit Cards with lifetime free benefits, meaning there are no joining or annual fees. The Platinum Visa Credit Card, for instance, comes with a lifetime free offer, allowing you to enjoy the benefits of a credit card without worrying about recurring fees. This can be a significant advantage for small businesses or start-ups looking to minimise their costs.

Conclusion

A credit card can be a powerful tool for entrepreneurs, offering benefits that can contribute significantly to your business’s growth and success. It provides financial flexibility, helps manage cash flow, builds your credit history, and offers robust reward programmes.

IndusInd Bank offers a range of Instant Credit Cards with diverse features catering to various business needs. The application process is entirely digital, making it seamless and easy. You need not visit the bank branch or submit any physical documents. You can avail of a credit card right from the comfort of your office, freeing up time and energy to focus on your business.

So why wait? Start reaping the benefits of a business credit card today. Apply now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

We live in a world fueled by convenience and digital transactions. Credit cards are integral to managing our financial needs. But with great purchasing power comes great responsibility. Thus, it is essential to use your credit card responsibly. In this blog, we will talk about some tips on using your credit card responsibly. This will help you in making better financial decisions and get the maximum benefits out of your credit card.

What is a credit card?

A credit card is a financial tool offered by a bank or non-banking finance company (NBFC). It allows you to access funds for shopping, travel, bill payments, and much more. Every credit card has a specific limit set by the issuer which you can utilise for your monthly spending.  

The credit limit is pre-determined by the card issuer and is provided based on your creditworthiness and other factors. It is a convenient way to manage cash flow and build a healthy CIBIL score. But paying your dues on time is crucial to avoid accumulating too much debt.  

A credit card also offers a variety of benefits, such as rewards, cashback, lounge access, travel points, etc.

Top tips to use your credit card responsibly

Select the right credit card

Today, every bank / NBFC / FinTech offers credit cards with different features. The availability of numerous options to select from makes the process of choosing the right credit card difficult.

If you are a first-time user, you can go for a basic credit card with a minimum credit limit, which is usually free. But if you have specific goals and preferences, you can compare the features of different credit cards and select the one that suits your goals and lifestyle.

Set a budget

To avoid overspending, you should create a monthly budget to use your credit card. People tend to overspend more than their usual budget when using credit cards and forget about the debt aspect. Access to a credit limit creates the temptation to shop more. Ultimately, it becomes a difficult task to repay the accumulated debt.

Having a budget will save you from overspending, accumulating considerable debt and falling into a debt trap.

Set a spending limit on your credit card

You can set a spending limit on your credit card and bifurcate domestic and international spending using your bank’s mobile application. This will help you spend within a limit. It also provides added security in case of theft or loss of your credit card.

Repay the dues on time

You may hold more than one credit card, and you might miss the due date unknowingly.

If you fail to pay the credit card bill on time, you will attract a high interest rate from the issuer for the late payment starting from the due date, till the amount is repaid.

There is also an option to pay the ‘minimum amount due’, using which you can pay a partial amount. Keep in mind though, it attracts interest on the unpaid amount until it is repaid in full. Hence, you should clear your dues in full and before the due date.

You can set up ‘auto pay’ / ‘auto debit’ from your bank’s mobile application to ensure that your dues get paid on time. For this, you need to maintain enough funds in your account to clear your credit card dues.  

Avoid credit card EMIs

You can pay your credit card dues by converting the amount into EMIs. However, this may attract processing fees. Also, a percentage of the monthly EMI goes towards the interest component, so you usually end up paying more than you would spend on a cash purchase.

Take benefit of the reward points

Every time you use your credit card, the bank adds reward points to your account. Once you accumulate enough reward points, you can redeem them through the bank’s mobile application and use them for shopping and credit settlement.  

Typically, these reward points are valid for a specific time; hence you must redeem them within the time limit to avoid a lapse of the reward points.

IndusInd Bank’s Credit Card reward points on the other hand do not expire – you can redeem them whenever you require. A unique benefit of IndusInd Bank Credit Card reward points is that you can convert these points to cash. This cash can even be used to pay your credit card bills, which brings your money full circle.   

Review your spending

Tracking your credit card spending is essential. You can log in to your bank’s mobile application and review your credit card statement. This will help you track your expenses and avoid overspending in the future.

Do not use your credit card to withdraw cash

You can withdraw cash from your credit card at any ATM and get cash instantly. But it is important to note that the credit card provider charges interest for a cash withdrawal from the cash advance date. Apart from interest, you may also be charged a high cash advance fee for withdrawing money using your credit card.   

Take the necessary security measures

With the rise of digital banking services, there is also an increase in card-related frauds. It is essential to take the necessary measures to avoid being a victim of scams.  

Fraudsters can get access to your credit card number, CVV number, one-time password (OTP), etc. by tricking you. To prevent such fraudulent activities, it is recommended to not share your card information with anyone.  

Conclusion

Mastering the art of responsible credit card usage is a skill that you should adopt for your financial well-being. Your credit card is a financial tool that empowers you to make purchases on a cash advance and build a healthy CIBIL score. Having a budget, paying the dues on time and keeping track of your expenses can help you maintain a healthy financial lifestyle.

You can apply for IndusInd Bank Credit Cards online from the comfort of your home and get an instant credit card. It is a completely digital process that does not require you to submit any physical documents or visit the bank branch. From dining and entertainment to shopping and healthcare, you get exclusive discounts with IndusInd Bank Credit Cards.

Apply now!  

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the author’s views in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

Stepping into the world of credit can seem daunting, especially when you’re trying to build a good credit score. But, did you know that your credit card, often viewed as a liability, can turn into an asset in your journey?Indeed, your credit card holds enormous potential to shape your credit history positively. Here are a few tips that can empower you to leverage your credit card and improve your credit score.

Tip #1: Timely bill payments – your ticket to a healthy credit score

Punctuality pays, especially when it comes to credit card bill payments. Your payment history is a vital cog in the credit score wheel, accounting for 35% of your overall score. Avoid late payments, as they can dent your credit rating. If you are not a fan of keeping track manually, opt for autopay to facilitate hassle-free, on-time payments.

Tip #2: Pay beyond the basic amount

Paying the minimum amount on your credit card bill can only take you so far. To speed up your journey towards financial freedom, try paying your credit card bill in full each month.

If you’re juggling multiple credit card debts, channelize larger payments towards one account while meeting minimum requirements on others. As one balance clears, shift focus to the next one, and witness your debts diminish steadily.

Tip #3: Eliminate debt, don’t shuffle it

Be mindful of your credit utilisation, or the amount of available credit you’re using since this can greatly influence your credit score. Creditors tend to frown upon borrowers with high credit utilisation rates.

Aim for a low credit utilisation ratio to boost your credit score. Aiming for a 30% credit utilisation ratio is considered ideal.

Tip #4: Clean credit reports for clear progress

Maintaining an accurate, up-to-date credit report is integral to improving your credit score. Regularly check your credit report for discrepancies and rectify them at the earliest. You can access your credit report via reliable online platforms, but beware of hidden charges for additional services.

Tip #5: Balancing debt and income – the DTI factor

The debt-to-income (DTI) ratio serves as a gauge for lenders to assess your financial health. It reflects your ability to manage and repay debts based on your income.

Strive for a low DTI ratio to present yourself as a low-risk borrower. Remember, a favourable DTI ratio can be a green signal to potential lenders.

Tip #6: Keep your credit cards intact

A lesser-known fact is that the length of your credit history plays a crucial role in determining your credit score. Retaining old and unused credit cards can keep your credit history intact, which can positively impact your score.

However, if an unused card comes with an annual fee, it might be more prudent to close it.

Harnessing the power of IndusInd Bank Credit Cards to improve your credit score

IndusInd Bank offers a range of credit cards in its “Instant Credit Card” range. For instance, the Legend Credit Card comes loaded with premium features that seamlessly blend with various facets of your lifestyle while assisting in strengthening your credit score. Its unique offerings include:

• Movie offers for the cinephile in you. As a cardholder, you can avail of a ‘Buy One Get One Free’ offer on movie tickets through BookMyShow. Additional benefits include a special discount of ₹50 on food and beverage selection.
  
• Enticing travel offers and benefits such as a discounted foreign currency markup of 1.8%, providing savings on international transactions.
  
• Global access to more than 600 lounges across the world through the Priority Pass. This ensures your travel experience is wrapped in comfort and luxury.
  
• A dedicated team of professionals available round-the-clock to assist you with flight booking, hotel reservations and travel-related support. This complimentary service takes care of your travel needs, no matter where you are in the world.
  
• Concierge services to provide you with comprehensive travel information, recommendations and assistance for your trips. From details about your destination, weather updates and important landmarks to modes of transport, they’ve got you covered.
  
• Ensuring the security of your transactions with the unique ‘Total Protect’ programme that provides coverage equal to your card’s credit limit. This also extends to add-on cards. This programme offers protection against unauthorised transactions and counterfeit fraud, providing insurance cover for up to 48 hours prior to you reporting the loss of your card.
  
• A complimentary personal air accident insurance cover of up to ₹25,00,000, offering financial security for your peace of mind.
  
  
• Auto Assist service to ensure your road trips go as planned. From unexpected flat tyres, vehicle breakdowns or other emergencies, the Auto Assist service provides on-the-spot assistance 24×7.

Improve your Credit Score: Conclusion

Building a robust credit score doesn’t happen overnight. It is a strategic journey that requires timely payments, low credit utilisation, and diligent financial planning. Remember, credit cards aren’t just for spending; they can be harnessed as powerful tools to improve your credit score when used correctly.

The future of your financial health begins now, with IndusInd Bank Instant Credit Cards. Discover the array of options available, and choose the card that complements your lifestyle and goals. Empower your financial future by applying for an IndusInd Bank Credit Card today.

Stand poised at the threshold of financial freedom with a solid credit score, beginning with just one wise decision. Don’t wait for tomorrow. Apply now, and let your credit card pave the way for a prosperous future.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.