Using a credit card for everyday spending is a great way to earn rewards. In this blog, we will discuss how you can get the best rewards from your credit card and maximize the benefits offered. 

1. Choose the Right Credit Card 

The first step to getting the best rewards from your credit card is to choose the right one. Look for a credit card that offers rewards for the types of purchases you make most often. For example, IndusInd Bank offers Platinum Aura Edge Credit Card that provides you with the freedom to choose your own reward program based on your preferences. With Platinum Aura Shop Plan, Platinum Aura Home Plan, Platinum Aura Travel Plan, and Platinum Aura Party Plan, you can tailor your rewards to your lifestyle.  

2. Understand the Rewards Program 

Once you have chosen a credit card, it’s important to understand the rewards program. Read the terms and conditions carefully to understand how you can earn and redeem rewards. Some cards may offer points, miles, or cashback rewards, and the value of each reward may vary depending on the redemption method. Additionally, some rewards programs may have restrictions or limitations, such as expiration dates. Make sure you understand these restrictions before signing up for the card. 

3. Maximize Your Spending 

To earn the most rewards from your credit card, you need to maximize your spending. Use your credit card for everyday purchases, such as groceries shopping, fuel, utility bill payments, and more. Some cards may offer bonus rewards for specific categories, so make sure you are using the card in those categories. Additionally, some cards may offer higher rewards for spending above a certain threshold, so try to use the card for larger purchases when possible. 

4. Pay Your Balance in Full 

To truly maximize your rewards, it’s essential to pay your balance in full each month. If you carry a balance, the interest charges can quickly offset any rewards you earn. It is highly advisable that you set up automatic payments or reminders to ensure you timely bill payment each month. 

5. Take Advantage of Promotions 

Credit card companies often offer promotions to encourage cardholders to use their cards. For example, they may offer bonus rewards for signing up for a new card, using the card for a certain amount of spending, or referring friends to the card. Take advantage of these promotions to earn extra rewards. 

6. Redeem Your Rewards Wisely 

Finally, it’s important to redeem your reward points wisely. Some rewards programs may offer more value for certain redemption methods, such as travel or gift cards. Additionally, some rewards programs may have minimum redemption thresholds or expiration dates, so make sure you understand the redemption process before earning rewards. Take the time to research the redemption options and choose the one that offers the most value for your rewards. 

Things to Consider Before Choosing a Credit Card for Rewards 

• Annual Fee/Joining Fee 

Some credit cards may charge a one-time joining fee as well as annual fee, which can offset the rewards you earn. Make sure you understand these fees and compare those to the rewards you can earn to determine if the card is worth it or choose a lifetime-free credit card that lets you enjoy all the benefits without any fee hassle. 

• Redemption Options 

Different credit cards may offer different redemption options, such as travel, gift cards, or cashback. Make sure you choose a card with redemption options that suit your needs. 

• Bonus Categories 

Some credit cards may offer bonus rewards for specific categories, such as gas or groceries. Make sure you choose a card that offers bonus rewards for the categories you spend the most on. 

Conclusion 

In conclusion, getting the best rewards from your credit card requires careful consideration and planning. Start by choosing the right credit card for your spending habits and understanding the rewards program. Once you have chosen a card, maximize your spending to earn the most rewards possible. Remember to pay your balance in full each month and take advantage of promotions to earn extra rewards. Finally, make sure you redeem your rewards wisely and choose the redemption option that offers the most value for your rewards. 

Before choosing a credit card for rewards, consider factors such as the annual fee, redemption options, and bonus categories. By considering these factors and choosing the right card, you can earn the most rewards possible and enjoy the benefits of your credit card. Remember to use your credit card responsibly and avoid carrying a balance to ensure you are truly getting the most value from your rewards.  

If you’re looking for a credit card that alone can satisfy the need of multiple credit cards and encompasses all the benefits and rewards to match your lifestyle, check our offerings and you’ll definitely find your ideal pick. IndusInd Bank offers a range of lifetime free credit cards that come with Total Protect feature and enable you to enjoy exquisite privileges and help save more with reward points that never expire.   

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. 

Credit cards are a convenient tool that many people use to manage their finances. They can be helpful in emergencies, and they allow you to make purchases without carrying cash. However, it is essential to be aware of hidden fees in credit card agreements to avoid surprises when you receive your bill. 

Hidden fees are charges that credit card companies may impose that are sometimes not explicitly stated in the terms and conditions of the agreement. These fees can be confusing and hard to understand, and they can add up quickly, resulting in unexpected charges on your monthly statement. In this blog, we’ll take a closer look at some of the most common hidden fees in credit card agreements. 

1. Joining & Annual fee 

Some credit cards charge a joining and annual fee for the privilege of using their services. If you’re considering a credit card with an annual fee, be sure to factor in this cost when deciding if it’s worth it. For example, if a card charges ₹2000 as annual fee, but you only earn ₹1000 in rewards each year, it may not be worth it to keep the card. 

Some leading banks like IndusInd Bank offer LIFETIME-FREE credit cards that offer reward points that never expire and come with a one-of-a-kind Total Protect feature that covers you for any unauthorized transactions in case of loss/theft of card. 

2. Balance transfer fee 

Balance transfer fee is levied when you move outstanding balance from one credit card to another. While balance transfer can be a good way to consolidate debt and save money on interest, it’s essential to consider the fee when deciding if it’s worth it. Be sure to calculate the total cost of the transfer, including the fee, to determine if it will save you money in the long run. 

3. Cash advance fee 

Cash advances fee is charged when you withdraw cash from an ATM using your credit card. While this may seem like a convenient way to access cash, it can be expensive. Most credit cards companies charge a cash advance fee, which is typically a percentage of the amount withdrawn, usually around 2.5% to 5%. Cash advances should be avoided unless absolutely necessary, as they can quickly add up in fees and interest charges. 

4. Late payment fee 

Late payment fee is charged when you miss a payment deadline. Late payments can also come with a higher interest rate penalty, making it more expensive to carry a balance on your card. 

To avoid late payment fee, be sure to make at least the minimum payment by the due date each month. If you’re having trouble keeping track of your payments, consider setting up automatic payments or reminders to ensure you never miss a deadline. 

5. Foreign transaction fee 

Foreign transaction fees are charged when you make a purchase in a foreign currency or outside of your home country. These fees can range from 1% to 3% of the total purchase price, and they can quickly add up if you’re traveling abroad. 

If you travel frequently or make purchases in foreign currencies, consider getting a credit card that charges reduced foreign transaction fees. Some cards offer this benefit as part of their rewards program, so be sure to shop around before your next trip. Some leading banks like IndusInd Bank provide credit cards which offer discounted foreign currency mark up as low as 1.8% on foreign currency transactions.   

6. Overlimit fee 

Overlimit fees are charged when you exceed your credit limit. This fee can vary but is typically around ₹500 to ₹1000 per occurrence. Credit card companies may allow you to exceed your credit limit in some cases, but they will charge you for the privilege. To avoid overlimit fee, be sure to monitor your credit usage and stay within your credit limit. If you do need to make a large purchase that will put you over your limit, consider asking the credit card company for a temporary credit limit increase or finding an alternative payment method. 

In conclusion, hidden fees in credit card agreements can add up quickly and result in unexpected charges on your monthly statement. To avoid these fees, it’s essential to read the terms and conditions of your credit card agreement carefully, monitor your credit usage, and stay within your credit limit. By being aware of these hidden fees and taking steps to avoid them, you can better manage your finances and avoid unnecessary charges on your credit card statement. 

If you’re looking for a credit card that encompasses all the benefits and rewards to match your lifestyle, check our offerings and you’ll definitely find your ideal pick. IndusInd Bank offers a range of lifetime-free credit cards that come with Total Protect feature and enable you to enjoy exquisite privileges and help save more with reward points that never expire.   

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.