Are Credit Card Points Worth It?
Here’s why I believe that it is worth having credit card reward points. Have a look!
Understandably, using Credit Card can be a little intimidating at the start, especially after being provided with the impressions of Credit Card Debt traps from any sources in the initial years of our life. All this can often lead us to think that credit card points are even worth having to go through all the procedures and safety measures for safekeeping, etc.
Well, growing up is an interesting part, you start earning, plan for your future, and try to increase your savings as much as possible. Hence, in my opinion, yes, if correctly used then credit card points are worth all the nitty-gritty formalities. Here’s why I believe that it is worth having credit card reward points:
1. Savings without negotiation: At the grocery store or while buying something big in life, we are accustomed to negotiating out of our natural habit for that little extra saving. But with credit cards, there is no need to negotiate or go the extra mile, you will have everything in your pockets. The rewards credit cards provided sometimes can save us a big chunk of our money while making purchases!
2. CashBacks: One of the most simple types of reward earned with your Credit card is Cashbacks. Cashback rewards are a certain percentage of the amount spent that you get back after the purchase is made. For example 3% cashback on purchase of Rs. 5000/- will get you Rs. 150/- cashback.
Here are a few famous Cash Back Credit cards to check out:
● HDFC Bank MoneyBack Credit Card
● Citibank Cashback Credit Card
● Flipkart Axis Bank Credit Card
● HSBC Cashback Credit Card
3. Travel Benefits: Credit cards do more than just Credit card reward points and cashback, it also provides various travel benefits. Financial institutions have gone an extra mile to aid customers who like to travel and hence there is an entire range of Travel Credit Cards provided by financial institutions. These Travel Credit card points come as miles or travel points using which you can save money on air travel, hotel stays, trip planning, and more.
Here is a few famous Travel Credit Card recommended:
● HDFC Regalia Credit card
● HDFC 6e Rewards XL
● MakeMyTrip ICICI Bank Signature Credit Card
● IRCTC SBI Card Premier
4. Complimentary Gifts: Discounts, vouchers, coupons, and Credit Card Reward Points that can be converted into Cahbacks are indeed useful but what is better are the complimentary gifts we can enjoy according to different Credit card policies. Here are some of the many Complimentary gifts provided by different credit cards according to their policy that might catch your eye:
● Complimentary Lounge Access
● Premium memberships on Zomato, Amazon, Forbes, Marriott, and more.
● Complimentary Golf games across the best courses.
● Complimentary air miles on sign-ups
● Free movie tickets, etc.
5. Works according to your Lifestyle: The Credit Card reward program is made after a close inspection of people's needs and desires and what contributes the most to the lifestyle of different segments. Hence, the reward credit card companies provide works according to our lifestyle. We do not need to make any big expenses to avail of Credit Card reward benefits, it can be done by just living our lives and using credit cards instead of Debit cards or cash for things even as routine as grocery shopping.
Here are certain Lifestyle Cards than can help you save according to your lifestyle:
● SBI Simply Save Credit Card
● HDFC Bank Regalia First Credit Card
● Axis Bank Privilege Credit Card
● Axis Back Ace Credit Card
Bottom Line
After getting to know about all the above-cited reasons it can certainly be said that yes credit card points are worth it as long as caution is exercised. One must make sure that the return on the card is higher than the fee and charges. It should also be understood that unnecessary expenses should not be made only to avail of credit card reward points.
Additional Reading: Credit Card Hidden Charges That You Should Know About
About the Creator
Kirti Bhargav
Financial Content Writer at Cardinsider.com
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