REWARD CREDIT CARDS INFORMATION

Please see information below on Reward Credit Cards.

        

What are Reward Credit Cards?

Reward Credit Cards are standard payment cards with additional benefits. They offer you a variety of rewards which usually include things like loyalty points, discounts, cashback, retail vouchers or frequent flyer points which can all be redeemed in a number of different ways.

How do I earn rewards?

It is very straightforward to earn rewards, cash back or discounts from reward credit cards. Simply use the card as you would any other card and watch the reward points build up. Remember, it is not recommended to go crazy with your spending to earn more points and always a good idea to use the card wisely.

Who can apply?

The lending criteria for reward credit cards are generally the same as regular credit cards. Each provider will have their own eligibility criteria; however, these are likely to be:

  • Minimum age 18
  • Minimum income
  • Good credit rating
  • Resident of India

What are the Benefits?

The promotions and benefits of reward credit cards vary from card to card which means you are able to choose a reward card that is suitable specifically for you. The goods and services you can redeem reward points for will depend on the individual credit card reward programme, compare each program wisely when you are making you choice.

The main benefits of most reward cards however, are the rewards you will earn for everyday purchases. The more you use your card for everyday spending, the more points you will earn. A reward credit card also offer great introductory rates and reward promotions which you should keep your eye open for.

What are the Disadvantages?

Although reward cards carry many benefits, it is easy to be blinded by all the rewards you are getting and lose sight of your spending habits. As with all credit cards, you still have to deal with annual fees, interest on unpaid balance, penalty fees and other expenses associated with credit cards so spend wisely.

        


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