Various banking and non-banking financial institutions offer you some of the best credit cards according to your lifestyle. Before one indulges in any of the credit cards, it becomes necessary that they dig into the drawbacks and perks of these free credit cards. One need not have to be any aggressive point optimizer to enjoy these rewards and perks of a credit card. If you can select the right credit card according to your financial habits, then you can take a lot of advantage of your credit card. With the money that you receive on your credit card, you can buy groceries or even book air tickets for your trips. Most of these credit cards offer additional cardholder perks. Some of these include discounts on selected retail stores or travel insurance. These credit card features make it much more rewarding to use a credit card.
Types of the reward credit cards
In India, one would find various kinds of credit cards. But the one that can offer you maximum reward credit points can be classified into:
- Travel reward credit card
- Entertainment reward credit card
- Shopping or dining reward credit card
Benefits of using the reward credit cards
When you choose a free credit card application, you have to look forward to the various reward point programs available on your credit card. Some of the benefits of using these credit cards include:
Getting rewards on every transaction
One can also earn reward points on every transaction they make with a credit card. The cardholder can get various common benefits offered by the reward point programs.
Getting accelerated rewards
A cardholder indeed earns reward points on every minimum spend. But one cannot deny that these cardholders tend toward accelerated reward points on various selected product categories that they spend on. These categories can be different for different credit cards. Mostly these are based on the type of credit card that one uses. In every co-branded credit card, the financial institution would offer the reward point excess on any purchase related to the partner’s service or product of the credit card. For instance, if you choose a CO branded fuel credit card, it would provide you with more reward points on every fuel transaction compared to any regular transaction.
Achieving milestone rewards
Once the cardholder reaches a certain milestone related to the credit card spend or transaction, the financial institution would offer a variety of reward points as a bonus. In this way, the cardholder would earn a lot of points for achieving certain milestones. Also, the cardholder can check the credit card status to track the various activities of the credit card.
Getting exciting rewards
After the cardholder accumulates a certain number of points, they become eligible for the redemption of these reward points. They can choose various products from the listed category from the company reward catalog. Each of these banks has a catalog that features various products, including home appliances, electronics, apparel and many more. However, some of these credit cards also offer an option that helps to redeem the reward points as cash against any outstanding amount on the card.
Features of the reward credit cards
Various features make it quite convenient for one to use a credit card. The first and foremost happens to be the quick approval of the credit card. With negligible or no joining and renewal fees, it becomes quite convenient for any common person to apply for a credit card. Also, various credit cards in India do not require any annual maintenance fee. With the help of a free credit card, one can bind the monthly expenses and manage their finances better.