What rewards credit card should I apply for? - Letsdiskuss
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Posted 11 Nov, 2019 |

What rewards credit card should I apply for?

Sri sakthi

professional | Posted 11 Nov, 2019

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Shailendra Kumar

Finance Advisor | Posted 11 Nov, 2019

Credit cards come in various types to suit the lifestyle, spending habits and purpose of a range of prospective users. It mostly varies in terms of credit card reward points. This is one of the primary features you must check while availing a credit card. 

To choose the best suited for you, consider the following points -

  • Your lifestyle.
  • Things on which you spend maximum.
  • Eligibility criteria.
  • Interest rates charged.

To understand the credit card reward points better, you must enquirer about it in details from the issuer.

Types of reward credit cards you can apply for

Reputed financial companies offer the following types of reward credit cards -

1. Fuel credit cards- Such cards offer reward points, discounts, cashbacks each time you refuel your vehicle. A fuel credit card will be beneficial to someone who travels mostly by his/her car or bike.

2. Airline credit card- It offers cashbacks and bonus points on the purchase of flight tickets, airport lounge services, and so on. This card is custom-made for individuals who frequently travel by air.

3. Travel credit card- This card brings exclusive cashbacks on cab ride expenses. It brings down your overall travel cost.

4. Shopping credit card- Financial institutions partner with various shopping outlets to offer you discounts when you purchase from these outlets.

5. Doctor’s credit card- Such credit cards are uniquely designed for medical practitioners. It offers them various benefits and facilities on their monthly spending.

Once you have selected the type of credit card you want to avail, look for an issuer charging the most attractive interest rates and/or additional benefits with the card.

Credit card reward points can also be exchanged for vouchers, which you can use while shopping from the partnered stores. However, it is best to opt for an issuer who allows you to convert your bonus points into cash.