Credit cards are so much more than just a tool for making purchases. If you are not fully utilising the benefits offered by your card, you could be missing out on some important perks and benefits. Get savvy about credit card rewards, bonus programmes, and hidden perks that boost your savings and enhance your lifestyle.
For instance, certain credit cards like the IndusInd Bank Legend Credit Card offer exclusive benefits. From reduced foreign currency markup and fuel surcharge savings to flexible rewards redemption, this card unlocks premium benefits designed to elevate your financial journey.
Categories of credit card benefits
To understand the full range of advantages, let’s explore common categories of credit card benefits:
- Travel perks: Airport lounge access, complimentary travel insurance, priority check-in, and air miles redeemable for flights are typical benefits of travel-focused credit cards.
- Cashback: Simple and straightforward, cashback credit cards offer a percentage of your spending back as a rebate.
- Rewards points: Versatile and rewarding, points can be redeemed for travel, merchandise, gift cards, or even statement credits.
- Lifestyle benefits: Enjoy discounts on dining, entertainment, golf course access, shopping vouchers, and more with lifestyle-oriented cards.
- Fuel benefits: Some credit cards offer waivers on the fuel surcharge you typically pay at gas stations or cashback on fuel purchases.
Lesser-known credit card perks
Let’s delve into a few often-overlooked benefits:
- EMI conversions: Many credit cards allow you to convert large purchases into easy monthly instalments (EMIs), often with reduced interest rates.
- Complimentary insurance: Some premium credit cards provide air accident insurance, lost luggage cover, or purchase protection insurance for items bought on the card.
- Foreign currency markup waivers: If you travel internationally, look for credit cards with reduced or waived fees on foreign transactions.
Finding the best credit cards for your needs
There is no single best credit card, as everyone’s spending habits are different. Here’s how to find cards that align with your lifestyle:
- Analyse your spending: Do you primarily spend more on travel, dining, or groceries? Identify your top spending categories.
- Shortlist suitable cards: Numerous online comparison portals help you find credit cards that offer the most rewards or benefits in your primary spending areas.
- Scrutinise fees and interest: Do not let the perks distract you. Do your homework. Compare annual fees and credit card interest rates to ensure the overall value makes financial sense.
Maximising your credit card benefits
- Understand your reward programme: Take the time to read the fine print on rewards or cashback accrual and redemption rules.
- Track your spending: Monitor your spending to leverage the full potential of your benefits, especially if your card has spending-linked rewards.
- Use your points wisely: Redeem reward points strategically. Avoid letting them expire and maximise their value.
Bottom line
Credit cards offer a range of perks, from travel benefits and cashback to lifestyle rewards and convenient features. To truly benefit, choose a card that aligns with your spending, understand its rewards programme, and always prioritise responsible usage by paying your bills on time. By doing research and smartly utilising your credit card, it can become a valuable financial tool.
Santosh Kumar is a Professional SEO and Blogger, With the help of this blog he is trying to share top 10 lists, facts, entertainment news from India and all around the world.