1. Choose Lifestyle-Based Credit Cards
Match your card to your spending habits for maximum rewards.
- Frequent travelers: Opt for co-branded cards like the KrisFlyer SBI Card for travel miles with Singapore Airlines.
- Daily commuters: The BPCL SBI Card OCTANE offers 7.25% cashback, a 1% fuel surcharge waiver, and accelerated rewards on fuel.
- Online shoppers: Go for cards with high cashback or reward points on e-commerce spending.
2. Focus on Category-Based Rewards
Many credit cards offer bonus rewards for specific categories:
- Dining
- Groceries
- Entertainment
Identify your top spending categories and choose a card that maximises rewards in those areas!
3. Leverage Welcome Gift Vouchers
Premium credit cards often provide welcome bonuses for new users upon meeting spending milestones.
- Example: The AURUM Credit Card offers 40,000 reward points as a welcome gift.
- Plan big purchases (appliances, travel) during this period to unlock maximum benefits.
4. Redeem Rewards Wisely
Don’t let your points go to waste!
- Use mobile apps or dashboards from issuers to track your rewards balance.
- Redeem rewards for high-value options like travel, gift cards, or cashback.
5. Avoid Late Fees and Charges
Rewards are only worth it if you’re not losing money on fees:
- Always pay your bills on time to avoid late fees and interest charges.
- Meet spending targets to qualify for renewal fee waivers, ensuring your rewards outweigh any fees.