How to Calculate the Value of Your Credit Card Rewards?

The credit market of India witnessed an addition of 9.13 million cards between February 2018 and 2019. The rising popularity of credit cards in India is demonstrated through such statistics, which can be, in turn, accredited to substantial credit card rewards generated upon each successful transaction.

Credit Card Rewards

Such an extensive reward point regime helps individuals increase their savings accumulated annually, diluting their financial liabilities significantly. However, choosing the most suitable credit card is vital in this respect, as the number of points disbursed is dependent on the purpose of usage.

Which type of credit card should be availed for high reward points?

Individuals aiming to maximise their credit card rewards should choose the card according to their spending patterns. For example, individuals who often spend a substantial portion of their income on retail purchases should choose a card which offers the highest reward points on such purchases and related transactions. As a result, card payments for all such purchases will lead to accumulation of substantial points.

On the other hand, frequent flyers would benefit more from a travel credit card, as it provides comprehensive benefits through air miles, complimentary access to international lounges, discounts on flight fares, etc.

Depending upon the usage of individuals, credit cards can be classified into the following types –

  1. Business credit cards – As the name suggests, this card is ideal for business people looking for a digital payment method to process all related transactions. It is a secure payment method with negligible chances of monetary fraud. Employee expenses can also be borne using such cards, and facility of monitoring the same is also present. Using a credit card wisely for such business purposes will lead to accumulation of substantial reward points in the future.
  2. Entertainment credit cards – Such credits are ideal for individuals spending a significant portion of their earningson various forms of entertainment, such as watching movies, attending concerts and sports events, etc. Substantial credit card rewards can be generated by paying for such expenses through the card.
  3. Cashback credit cards – Reward points accumulated through a transaction on such credit cards can be redeemed to earn cash backs specifically. Discounts or voucher benefits are primarily not available on such cards. Nonetheless, monthly credit card bills can be reduced through such cash backs respectively.

Alternatively, individuals can also look into the Bajaj Finserv RBL Bank SuperCard, which comes with various facilities, suiting the needs of all types of users in the country.

Such an easy application and approval process of the RBL bank credit card, along with several industry-first features and benefits make it an attractive option among potential credit card applicants looking to avail one card providing comprehensive benefits.

Features you need to know about the SuperCard can be listed as follows –

  1. High credit card rewards – Top credit cards available in the financial market offers extensive rewards points as joining bonus and loyalty points, along with rewards on every transaction processed through the card.
  2. Fuel surcharge waivers – Paying for fuel using such cards reduces the cost of surcharge expenses levied by most petrol pumps across the country. This effectively reduces the average amount spent on fuel purchases substantially in the long run.
  3. Interest-free ATM cash withdrawal benefits – No interest is levied for up to 50 days on the total amount withdrawn from ATMs on top credit cards. Only processing charges at nominal rates are levied on such transactions.

Such advantages of the Bajaj Finserv RBL Bank credit card cater to the spending patterns of all individuals, helping them channelize significant savings yearly, through a higher spending capacity. Choose a credit card which would maximize credit card rewards generated on transactions and purchases made you. Refer to leading financers with a CIBIL score around or above 750 to avail feature-rich credit cards.

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Article Author Details

Riacha Sharma