Things to know about credit card points | Fusion - WeRIndia

Credit card is one of the good instruments if you use it wisely and responsibly. Otherwise, you could run into debt.

Buying with a credit card helps reduce your cash spending. In addition to that, you will get cash discounts, cashback and reward points.

The reward points of the credit card vary with each finance institution or bank.

Here are some important things to know about credit card points:

• Check the website of your bank to know the number of points you have earned. Banks may put a limit on points or a period to redeem them.
• Alternatively, you can call the customer care to know about this information if you are not aware of how to access the information provided on their website.
• There are certain ways to redeem these reward points.
• Some banks provide vouchers of their associated partners to make purchases at their stores either online or offline.
• You may also be offered a catalogue with various items including clothing, crockery, footwear etc. However, this is not a useful option as you have to select the products from the specified list which may not be required by you.
• Your bank may reward with cashback for the purchase at the retailer it has been tied up with.
• Miles are provided by the banks for giving travel-related benefits to their customers. The user earns air miles on the usage of card which can be used to book flight tickets of travel booking portals with which the bank has been tied up.
• Some banks provide cash by converting the reward points and credit it into the account of customers.
• Remember that these reward points are not exactly free and there are certain charges associated with it.
• A partial amount is covered in the expense and the remaining will have to be borne by you. Hence, do not spend too much amount chasing for reward points.

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