In simple words, credit card rewards are an incentive that’s offered by card issuers for using their card to make purchases. These rewards come in handy for unexpected or additional purchases, saving your cash for other expenses.
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Rewards Points
For every rupee spent using the card, you earn a reward point. These points can be very useful while redeeming for various rewards, such as gift vouchers, merchandise, or even cashback.
Cashback
Some credit cards provide cashback offers, where a percentage of your spending is credited back to your card account. For example, if your card offers 1% cashback, and you spend ₹5,000, you will receive ₹50 as cashback. Cashback can be a great way to get some money back on your everyday expenses.
Travel Rewards
Certain credit cards, especially those co-branded with airlines or hotels, offer travel-related rewards. These rewards can include airline miles, hotel loyalty points, or discounts on flights, hotel bookings, or travel packages. Accumulated miles or points can be used to get free flights, hotel stays, or upgrades.
Dining and Entertainment Offers
This can include discounts or complimentary benefits at select restaurants, cafes, movie theaters, or other entertainment venues.
Fuel Surcharge Waiver
This benefit can help you save a small percentage on your fuel expenses every time you fill up your vehicle.
Shopping Discounts
When you make purchases at partner merchants or specific retail outlets, you can get discounts ranging from a certain percentage off the total bill to exclusive deals or seasonal promotions.
Reward Catalogue
Credit card rewards often come with a reward catalogue, which is a selection of items or services you can redeem using your accumulated points.
Keep in mind that rewards programmes can differ based on the credit card company and the card you select. It's crucial to compare various credit card options and select the one that best suits your spending patterns and rewards programme needs. Additionally, pay attention to any associated fees or conditions for earning and redeeming rewards to ensure you make the most of your credit card rewards.
