Credit cards are a good way of paying for your transactions. They help you transact on credit wherein you can buy the goods or services first and then pay for them later on. Moreover, credit cards also have a rewards system wherein you get something extra for using your card to pay for goods and services. Many of you, however, don’t have the complete idea of the credit card’s reward systems. As such, you are not able to make the most of your credit card. So, here are the basics of the reward systems which are available in most icici credit cards –
The most popular and also the most basic reward system in almost every credit card are reward points. You are allotted reward points based on the value of the transaction which is done using the card. For instance, for every INR 100 spent on the card, you might get 10 reward points. These reward points can then be accumulated and later used for various benefits. Some common ways to use the accumulated reward points are as follows –
For buying merchandise
Besides reward points, credit cards also give you benefits on your lifestyle expenses. You can get the following lifestyle benefits from your credit cards –
Flat discounts on dining at partnered restaurants across India and also internationally
Free movie tickets every month
Discounts on grocery shopping at major shopping marts
Gift vouchers of merchant outlets
Premium credit cards give privilege lifestyle benefits too like the following –
Membership of premium hospitality clubs
Golf memberships and free golf rounds and lessons
Access to international airport lounges when traveling
Discounts at luxury brand outlets, etc.
Fuel surcharge rewards are available in almost all credit cards wherein you get a fuel surcharge waiver on fuel purchases.
So, these are the most common benefits which are provided by credit cards under their reward systems. Understand the rewards promised in your credit card so that you can maximize the benefits which your card can provide.