How to Maximise Credit Card Rewards: 5 Top Strategies You Need to Know

Credit cards can offer an array of benefits, from lucrative credit card rewards to converting your big-ticket purchases to affordable EMIs. In fact, rewards are one of the exciting USPs of a credit card. After all, you can earn these rewards for each card transaction that you make, helping you save more while you spend.

That said, you need to be strategic in leveraging these benefits. From selecting the right card to redeeming credit card offers on time, your informed decision-making skills will help you bag good deals. 

Wondering how it’s even possible? Simply know the ins and outs of your card’s reward structure program and follow these top hacks to make the most of it.

Consolidate Your Purchases into a Single Card

Want to accumulate your credit card reward points faster? It’s easy. Simply combine all your purchases using one card. Whether paying your utility bills, managing monthly grocery shopping or booking flight tickets, use one card for all these transactions.

Channelling all these purchases via a single credit card helps you stack up rewards faster. This helps expedite the accumulation of your credit card rewards! Remember to assess your needs and adopt a disciplined approach so that you don’t overburden your finances.

Also, keep track of your card’s spending milestones, which help you earn additional vouchers or bonus points. That said, don’t be impulsive with your reward points as opting for a thoughtful redemption strategy will lead to more savings. 

The best option is to save up your points and redeem them for a sizeable, higher-value reward rather than using them for smaller products. Weigh in the pros and cons and decide if accruing points will hold a greater advantage.

Choose a Rewards Program Matching Your Lifestyle Needs

Yet another crucial factor that you don’t want to miss! Before you select any card, ensure it matches your requirements to maximise the rewards. This is because a reward program that does not match your lifestyle or spending habits is useless. 

If you enjoy shopping, you’d be excited if the card offers e-gift vouchers or bonus points when you use it at select online websites. Alternatively, if you fly frequently, your card should offer air miles.

Choosing the right card that gives you the freedom and flexibility to redeem your points is essential. You can even clear your outstanding card balance with your reward points. All it takes is the right approach and selecting the ideal option from the numerous types of cards available. A card empowering you with choices is the best strategy that you can adopt.

Check If There’s Any Redemption Charges

As reward points may sound exciting, don’t forget to check a crucial factor – the rewards redemption fee. A few card issuers charge a fee for redeeming rewards. Always ensure that the card issuer you choose doesn’t charge you for rewards as this can reduce its value.  

While understanding your card’s reward structure plays a crucial role, overusing your card to accrue additional points will not do any good either. This can lead you into a debt trap, and you may find it difficult to manage your monthly finances. 

Remember, there’s no one-size-fits-all approach when it comes to choosing a card, as each individual has varied requirements. Always choose what suits you the best!

Pay Close Attention to Limited-time Offers

Issuers offer reward multiplier deals when you use the card for online shopping during festive seasons, birthdays or even birth months. Taking advantage of these benefits can boost your rewards up to 20 times, helping you save more on specific purchases.

It is crucial to watch out for such deals as they may be available only for a limited period with select brands or categories. 

Clear Your Credit Card Bills on Time and in Full

Making timely payments is crucial as that helps you get the most value out of your card rewards. Why? Most issuers levy high interest rates on the outstanding balance at the end of the billing cycle. 

So, carrying a balance can offset your savings, which is why paying your bills on time and in full is important. This simply means that you should only use for card for a purchase if you can pay for it at the end of the month. Set a budget and monitor your transaction history to ensure you’re able to manage your bill payments without hassle.

While adopting these strategies can help you utilise the maximum benefits of your credit card rewards, remember that the card you pick matters. It also helps to opt for a card with a no-expiry feature on its rewards structure. One such option you can consider is the One Credit Card. 

From earning 5X rewards on top two spends every month to enjoying exciting shopping and dining offers, the list of benefits you can explore is long. What’s more, you can get this card without paying any joining fee and you don’t have to pay additional charges for redeeming your card points as well. Apply for the card today and get access to its powerful mobile app that lets you track all your expenses seamlessly.