Over the past decade or so, digitalisation has transformed almost every facet of our lives, ranging from the way we purchase things to the way we consume them, from the way we spend our money to the way we make the actual payments.
Gone are the times when every transaction was driven by cash. Now you can purchase almost everything through plastic money and digital wallets alike, a change that has made transactions more transparent and seamless. One of the key markers of this shift towards plastic money is the advent and widespread application 0f credit cards.
You can use a credit card to purchase a product or service or make a payment, only to make the actual payment after a specified period of time. With this facility of credit, you do not have to procrastinate your purchases or payments. And you can also avail of the option to convert your transactions into EMIs so that the subsequent repayment can be spread over a tenure of your choosing, say six months or a year. What is more is that you get reward points for utilising your credit card.
What are Credit Card Reward Points?
Whether you use your credit card for the payment of a fuel refill at a petrol pump, your dinner bill at a restaurant, or your mobile bill online, you get rewarded for said usage in the form of reward points. These reward points get credited to your credit card account and can be redeemed to make purchases from your credit card partner’s store.
Depending on the terms and conditions of the reward points program of your credit card, you may also be able to redeem the reward points earned through the card for partial payment of your outstanding bill. However, in most cases, you need to have accumulated a certain number of reward points for this option to be available at your disposal.
Alternatively, you can use your credit card reward points for buying vouchers for restaurants, or gift cards for online apps, as allowed by your credit card partner. Although credit card reward points are exciting features 0f your association with a particular card company, it is often difficult to:
- Ensure that you are using your credit card on the right platforms to maximise the generation of reward points;
- Keep track of your credit card reward points to ensure their usage before the expiry date.
Here is how you can track and manage your credit card reward points through an app
In the hustle and bustle of daily life, it is almost impossible to stay abreast of such seemingly insignificant things as your credit card reward points. Sure, you may end up checking the various online and offline platforms where your credit card is eligible for the accumulation of reward points while applying for the card, or even notice this information in your monthly credit card statements, but you may not always remember and/or utilise this information while using your card.
For instance, you may be aware that your credit card can earn you a fuel surcharge of, say 2%, on the payment of fuel bills at petrol pumps, but while getting fuel refilled for your vehicle, you may end up paying in cash or with a debit card. Another example is the usage of cash or a debit card at stores where payments with your credit card can generate substantial reward points.
In order to ensure that you are able to maximise the number of reward points that you can earn on your credit card as well as keep track of the expiration timelines of those points, you must keep checking your credit card app on a regular basis.
Tracking your reward points made convenient
If you got a Credit Card from the Bajaj Finserv MARKETS app, then you do not need to look any further than the app to track the number of reward points that have been credited to your credit card account, along with the respective dates of their genesis and validity. It is important to note here that you can also find a succinct summary of these points on your monthly credit card statements.
It is a dynamic one-stop solution for all the information pertaining to your credit card, including the particulars 0f the transactions, the statements, the payments, and the reward points. You can also ascertain the categories of spends on your credit card which can earn you a specific amount of reward points.
The more you acquaint yourself with the aforementioned information, the better placed you shall be to make the most of your credit card reward points programme. And the app can make this task easier by providing you with all the necessary information in this regard.
The key lies in checking the aforementioned app regularly, analysing your spending pattern with your credit card, and establishing whether you can make better use of the card to earn a higher number of reward points. It is also important to keep redeeming the points at the appropriate times so as to avoid the loss of any points to expiration.
To sum it up
Keeping track of your credit card reward points may be way down in your list of priorities. However, with periodical checks, you can make the most out of your credit cards.