10 ways to redeem your credit card rewards for maximum value

Posted on Monday, July 17th, 2023 | By IndusInd Bank

Credit card rewards are undeniably popular, offering enticing benefits and irresistible returns. However, to fully capitalise on these rewards, it’s essential to manage your loyalty points wisely and identify opportunities for maximum value. As a credit card holder, you earn cash in the form of rewards, benefits and perks. It is crucial to utilise these rewards to effectively unlock their total worth.

To help you navigate the world of credit card rewards, we have curated a set of expert tips and advice. By following these recommendations, you can optimise your rewards and avoid common pitfalls.

10 ways to utilise credit card rewards

1. Choose the right credit cards

When it comes to optimising credit card rewards, you must apply for a credit card that aligns with your spending habits. For instance, a diner credit card will greatly benefit those who like visiting diners and restaurants regularly and trying new delicacies. Similarly, a shopping benefit credit card is much beneficial for individuals who use credit cards for their shopping expenses.

With a sense of purpose, you can compile a list of what you need and reach for the trusted IndusInd Bank Legend Credit Card. Off you go, embarking on a shopping adventure. For every transaction worth ₹100, you receive a generous reward of 1 point with the IndusInd Legend Card double reward points in weekends

Another option is to apply for the IndusInd Bank EazyDiner Credit Card. This card is extremely beneficial for people who like going out, rewarding an astonishing 10 points for every ₹100 spent on dining, shopping and entertainment

In this game of maximising rewards, every decision counts. Therefore, it pays to plan properly and make the most of your credit card choices.

2. Earn the welcome bonus

Credit cards often entice new customers with attractive welcome bonuses. These bonuses can be earned by reaching a specific spending threshold. While these rewards offer attractive benefits in terms of rewards, it is important to exercise caution to avoid overspending solely to claim these rewards.

While the charm of bonus points may be appealing, it is crucial to maintain a balanced approach to personal finances and make wise spending choices that align with your financial objectives. By being mindful of this potential pitfall, you can reap the rewards of welcome bonuses without jeopardising your long-term financial stability.

3. Consider credit cards with a flexible reward program

When it comes to choosing credit card rewards, it is important to consider the ease of redemption. You certainly would not want to get stuck with rewards that are difficult to redeem. If you prefer the convenience of cashback, take a closer look at the card’s terms and conditions.

Check if there’s a minimum redemption requirement and whether you have the flexibility to use your cashback rewards in a way that suits you best.

IndusInd Bank Credit Cards allow you the flexibility to convert your reward points into cash to pay for credit card bill payments, effectively reducing your outstanding balance.

4. Check for limited-time offers

Are you making the most of the limited-time offers provided by your card issuer? If not, it is time to ensure that you have signed up for their marketing emails. By doing so, you can stay up-to-date with the latest news and be the first to know about the fantastic opportunities to maximise your rewards.

These special offers often come and go quickly; therefore, it is essential to seize them while they are available. They present an excellent chance for you to optimise your rewards and reap the benefits of elevated rewards rates. By being proactive and staying informed through marketing emails, you will never miss out on such valuable opportunities.

5. Combine your points

If you happen to possess multiple cards from a single card issuer, there is a wonderful opportunity to consolidate your rewards. This allows you to combine your points and enjoy a more substantial reward.

Usually, it is feasible to transfer or merge rewards between cards issued by the same provider and within the same category of cards, such as from one point card to another.

By taking advantage of this option, you can maximise the benefits of your credit cards. Consolidating your rewards enables you to pool your points together, amplifying their value and opening up the possibility of redeeming them for even more exciting rewards.

6. Pay your bill on time

Never underestimate the impact of paying your bills on time when it comes to improving your credit score and getting the most out of your credit card rewards. It is a key factor in maintaining a healthy credit score and reaping the full benefits of your credit card.

Carrying a balance can easily wipe out any gains you make from the rewards offered by your card. To ensure that you do not miss out on rewards and avoid accumulating debt, it is essential to pay off your full statement balance each billing cycle.

7. Cash in your air miles

Imagine having a credit card that not only rewards you for your spending but also gives you the incredible opportunity to turn those rewards into air miles for your favourite frequent flyer program. It is like having a secret gateway to free flights and unforgettable travel experiences!

With these credit cards, you have the power to convert your hard-earned reward points into air miles. Note that the conversion process is based on a predetermined ratio. This means that for every certain number of reward points you accumulate, you can exchange them for a corresponding amount of air miles.

Once you have converted your reward points into air miles, a whole world of possibilities opens up before you. You can use those air miles to book flight ticket using your air miles.

8. Avail of hotel loyalty programs

If you are looking to have a fantastic vacation without spending too much, this is a clever trick you can use. Take advantage of your credit card reward points by transferring them to a hotel loyalty program alongside a frequent flyer program. This way, you can make the most of your points and enjoy some amazing benefits.

You can choose from a wide range of hotels and resorts, and enjoy their luxurious amenities without spending a lot of money out of your pocket. Whether you are dreaming of a relaxing beach getaway or an adventurous city escape, the possibilities are endless.

9. Pay using points

Certain credit cards offer the option to utilise your reward points for online purchases, effectively paying for them. The value you can get per reward point typically ranges from ₹0.20 to ₹0.25. With IndusInd Legend Credit Card, 1 Reward Point =  ₹0.75 of cash value

This enables you to save money while enjoying the convenience of redeeming your accumulated points for tangible benefits.

10. Always compare the redemption options

To maximise the value of your rewards, consider exploring alternative redemption options before claiming your points. Transferring your reward points to other redemption choices might benefit you more than redeeming them directly.

By taking this approach, you can ensure that you make the most of your rewards and optimise their value.

In Summary

It is important to have a clear goal in mind when using your credit card to maximise the value of the rewards you earn. By doing this, you ensure that you make the most of your credit card rewards.

If utilised properly, credit cards can offer a plethora of benefits. It is easy to apply for IndusInd Bank Credit Cards via a completely digital process. If you are looking for a credit card with numerous privileges such as shopping, entertainment, travel and lifestyle benefits, IndusInd Bank offers solutions for all your credit card requirements. Apply now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.