How To Maximize Your Rewards With Credit Card Payment Apps

Fintech sectors are working leaps and bounds to achieve the holy grail of financial advancement. Among numerous other innovations they made, the inception of credit cards was like handing a magical lamp with a genie to all users.

 The benefits of using these plastic cards are multiple, and getting rid of carrying bundles of cash is one of them. Earlier, when it was introduced, people used it merely to make payments for their online and offline transactions. Credit cards have been improvised for the past few years to let users navigate its several beneficial aspects.

Enticing features of these online payment apps: 

  • Regarding the perks of using credit card payment and UPI payment apps, rewards points and cash-back features are the most significant in transforming how consumers optimize their credit card usage. One needs to be financially aware and updated to make the most of these reward programs offered by different issuers of credit cards or online UPI apps.
  •  Reward points can be redeemed through various categories like air tickets, dining, shopping, etc. And different issuers have their set criteria for rewarding these points; for example, a payment app may offer ten points on a purchase of hundred rupees. Similarly, some issuers provide cash back as a reward, which can be directly linked to the statement credit.
  • Certain complexities are involved in redeeming these points, as all the reward points cannot be used on all the platforms. As these points are not calculated in terms of cash, they are only in the position to be deemed if accumulated in a decent quantity. So, the following points are recommended to keep in mind for optimizing the redemption points and making the most of them:
  • Spend to earn: sounds confusing? Well, it’s simple to comprehend that the more you use credit cards for frequent transactions, the higher the reward points are collected. You need not necessarily spend a fortune purchasing big-ticket items to leverage the reward points or cash back. You can use your credit cards or online UPI app for daily miscellaneous purchases. In this way, you spare yourself from the pain of extracting cash from ATMs and use that ultimately to make credit card payments.
  • Make a smart choice: Please select a credit card according to your preference, as  various financial institutions provide credit facilities for almost every relevant commodity, but their rewards or cash back are specifically focused on niche products and services.

For example, in some online UPI payment apps, reward points let you achieve e-Vouchers for buying air tickets. At the same time, other credit cards may give discounts or cash back on utility bill payments or retail shopping online. So, choose your online payment mode or credit card according to your preference of benefits you would like to avail yourself of.

Conduct thorough research for the latest offers & schemes: You surely don’t want to miss the advantage of the festive discounts on famous brands, especially during the festive sale organized by them. Credit card issuing companies often send promotional emails and push notifications for regular users who opt for quick bill payment using these cards to update about any latest offer or scheme in collaboration with a specific brand.

If a person uses multiple credit cards, it can be arduous to maintain a tab on all of them; credit card payment apps are handy in this case. They are very useful in monitoring expenses, tracking all the transactions, and making payments using all the cards from a single interface.

Above are just a few of the ways that can be adapted to use credit cards smartly. After all, it is not just a payment tool but way above and beyond. Miles are one of the most effective forms of reward points earned through frequent use of credit cards, and these are redeemed for all travel-related services, for example, air tickets, hotel stays, cab rentals, etc.

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