Full Review of Top Rewards Credit Cards in India

Full Review of Top Rewards Credit Cards in India

What’s even better to have a wide variety of reward programs to choose from? So next time you go shopping, take your reward credit card with you and come home not with empty pockets, but, with wallet full of rewards. You can redeem the rewards to get a free air ticket and a lot more exciting offers.

However, before getting the reward card, it is important to compare and contrast the features, privileges, and fees and charges, so that, you can pick the best one according to your set of preferences.

John Ulzheimer, formerly of FICO, explained, “I think the most important attribute of a good rewards card is applicability. Do the card’s rewards appeal to you? If not, then it’s not the best option.”

Reward credit card features:

Rewards – As the credit card’s name suggest, the card is packed with enhancing reward programs and exciting discount deals. The reward points you earn is based on the total spending you made using your reward card. Credit card providers calculate these rewards based on their redemption program, so that the cardholder can redeem the points as per the lender’s catalogue.

Special privileges – Cardholders can also get special privileges on grocery shopping, dining, travelling, etc. For instance, credit card providers specify the rewards against every Rs.100 spent, while some cards come 3x rewards others may offer up to 10x rewards on selected categories.

Welcome bonus – How would you feel when you enter a room and see a room full of surprises and gifts? Experience the same with reward credit card and its amazing welcome bonuses and reward points. In addition, some card providers also provide free air tickets to its cardholders for spending a specific limit within a given period.

Apart from the above privileges, reward cards also offer several other benefits like discounts on dining, concierge services, lounge access, entertainment and movies, fuel surcharge waiver, and so many other perks.

Types of reward cards:

Based on the needs and preferences, there are several types of reward cards offered by the banks. The rewards are credited on spending across specific categories like travelling, fuel, entertainment, lifestyle, among others.

Cash back – Cash back credit cards offer cash back for every rupee spent. Typically, this reflects a flat percentage discount for all your purchases. Though, other cashback credit cards award different reward percentage for rotating categories like gas, dining, and groceries.

Airline rewards card – Airline credit card is an ideal card especially for frequent flyers. Several banks are partnered with different airlines, in order, to offer amazing discount deals. The reward points can be redeemed against flight ticket bookings, special program membership, and airport lounge access. Cardholders can also upgrade their flight tickets to another class.

Hotel rewards card – This somewhat likely to airline reward card. Hotel credit cards are also designed especially for frequent travellers. Cardholders can earn exciting reward points and redeem the points to crack amazing hotel booking deals. They can also get a free night stay and can also upgrade their hotel rooms.

How to choose the best rewards credit card?

Yes, though the credit cards act as a host of benefits, meanwhile it is significant to choose the right card based on your set of needs and preferences.

Bonus and rewards – Though, credit cards come with a pack of benefits, meanwhile it is significant to check that the points are active in which specific category. This will certainly help you make the most out of your credit card.

Fees and charges – The card providers charge a specific fee, therefore, it is important to check all fees and charges applicable at the time of signing up to the card. Fees and charges may vary from card to card.

Reward validity – Despite providing exciting rewards and cashback deals, the cardholders are required to redeem the credits within a given period of time. Thus, it is essential to know the validity period offered by the bank.

Bottom line:

Picking up the right credit card is all about figuring out the calculated financial plan based on your needs and what card will suit best to their lifestyle. Once the financial plan is calculated and the preferences are specified, you’ll be ready to research thoroughly to compare and choose the best credit card. Stay tune to applykaroo for more information on a credit card.