Over the past decade, digitalization has transformed nearly every facet of our lives, from how we buy things to how we consume them, from how we spend our money to how we perform actual payments.
Gone are the days when every transaction was done in cash. Now you can buy almost anything with plastic money and digital wallets, a change that has made transactions more seamless and transparent. The advent and widespread application of credit cards is one of the main markers of this evolution towards plastic money.
You may use a credit card to purchase a product or service or make a payment, only to make actual payment after a specified period of time. With this credit facility, you don’t have to procrastinate with your purchases or payments. And you can also take advantage of the option to convert your transactions to EMI so that subsequent repayment can be spread over a period of your choice, say six months or a year. Plus, you get reward points for using your credit card.
What are credit card reward points?
Whether you use your credit card to pay for a fuel refill at a gas pump, your restaurant dinner bill, or your online mobile bill, you are rewarded for that use in the form of loyalty points. These reward points are credited to your credit card account and can be redeemed for purchases in your credit card partner’s store.
Depending on the terms and conditions of your credit card’s rewards points program, you may also redeem rewards points earned through the card for partial payment of your outstanding bill. However, in most cases, you must have accumulated a certain number of loyalty points for this option to be available to you.
Alternatively, you can use your credit card rewards points to purchase restaurant vouchers or gift cards for online applications, as authorized by your credit card partner. While credit card rewards points are great features of your association with a particular card company, it’s often difficult to:
- Make sure you are using your credit card on the right platforms to maximize reward point generation;
- Keep track of your credit card rewards points to ensure they are used before the expiration date.
Here’s how you can track and manage your credit card rewards points through an app
In the hustle and bustle of everyday life, it’s nearly impossible to keep up with things as insignificant as your credit card rewards points. Of course, you may end up checking the various online and offline platforms where your credit card is eligible for earning rewards points when applying for the card, or even noticing this information in your monthly card statements. credit, but you may not always remember and/or use this information when using your card.
For example, you may know that your credit card can earn you a fuel surcharge of, say, 2%, on paying fuel bills at gas pumps, but when refueling your vehicle, you can end up paying in cash or with a debit card. Another example is using cash or a debit card in stores where paying with your credit card can generate substantial rewards points.
In order to ensure that you are able to maximize the number of rewards points you can earn on your credit card and to track the expiry times of those points, you should continue to check your credit card application regularly. .
Keeping track of your rewards points comes in handy
If you got a credit card from the Bajaj Finserv MARKETS app, you need look no further than the app to track how many reward points have been credited to your credit card account, as well as the respective dates of their genesis. and validity. It is important to note here that you can also find a brief summary of these points on your monthly credit card statements.
It’s a dynamic one-stop solution for all your credit card information, including transaction details, statements, payments, and rewards points. You can also determine which spending categories on your credit card can earn you a specific number of rewards points.
The more you become familiar with the aforementioned information, the better positioned you will be to get the most out of your credit card loyalty points program. And the application can make it easier for you by providing you with all the necessary information in this regard.
The key is to check the aforementioned app regularly, analyze your spending habits with your credit card, and see if you can make better use of the card to earn more rewards points. It is also important to keep redeeming the points at the appropriate times to avoid loss of points on expiration.
Keeping track of your credit card reward points can be very low on your list of priorities. However, with periodic checks, you can get the most out of your credit cards.