Here’s how to maximise benefits from a credit card programme
Over the past few years, India has been embracing digital payment options as an alternative to cash, slowly progressing to a less canada goose outlet official cash one. As part of this evolution, there has canada goose outlet legit been high credit card adoption, contrary to the belief that India is purely a debit driven economy. Whenever a bank offers credit cards to potential customers, a typical sales pitch focuses on the loyalty programmes offered with the canada goose jacket outlet sale card. However, most customers might find it difficult to understand the mechanism and utility of these programmes unless they are financially savvy. Let us try to unfold how the reward points system works and its relevance to the cardholder.The bank that issues the canada goose outlet online reviews card canada goose outlet authentic (issuer) earns an annual fee on the cards issued and interchange fee (derived from the merchant service fee) on every transaction. In case of non payment/partial payment by the cardholder by the due date, interest and late payment fee would be charged by the issuer bank on the outstanding amount.’Fudging figures’: Fiscal deficit in FY14 was 4.4%, not 5.1%, says ChidambaramAssembly Elections 2018: All you need to know as Chhattisgarh goes to pollsWhat benefits do credit cards provide?The interchange fee charged canada goose outlet eu by canada goose outlet store toronto a card issuer depends on the type canada goose outlet price of card:Gold, Titanium, Platinum, World, Signature, Infinite, etc. Therefore, the reward points offered by banks would also vary on the type canada goose outlet toronto address of card. Typically, a high end card like canada goose outlet new york city Infinite, Signature or World enjoys maximum benefits compared to a Platinum or Gold card.These include higher reward points, cash back offers by the bank, preferable interest rates on equated monthly instalments (EMI) based purchases and an extended grace period to pay the dues. The benefits are proportionate to the revenue estimated by the issuing bank for that particular type of card.How toearn reward/loyalty points?Reward points are offered in various ways. Banks could add a certain number of points http://www.canadagoosejacketoutlett.com to the card as a welcome offer or sign up bonus. Then, canada goose outlet edmonton on every transaction, points canada goose outlet london uk are added to the card. The bank could also offer additional/accelerated points when a customer spends at a preferred merchant who has tied up with the canada goose outlet woodbury bank to provide cardholders with lucrative offers. canada goose outlet location The issuer could also run seasonal or promotional offers for particular canada goose shop uk card types during different time periods like season sales, weekends, on particular shopping categories, et al.How to redeem reward points?1. Online redemption/conversion: Cardholders can redeem points through gifts or merchandise bought online. Points can also be used to book movieand airline tickets and hotel bookings online.2. Phone banking and post: The cardholder can call the bank’s customer care and redeem canada goose parka outlet uk points or download the redemption form, canada goose outlet fill it and send it to the bank’s postal address.3. In store:Credit card issuers /banks have also tied up with Large Format Retail stores to offer in store redemption on purchases.Different issuers offer different type of loyalty programs suited to the various consumer segments they target. From small spenders who retain a credit card only for emergencies to those who use their cards for most purchases across dining, travel, shopping etc, programs are tailored to benefit both the cardholder and issuer. By using credit cards wisely, canada goose outlet montreal any consumer can maximize the benefits he or she can derive froman affiliated loyalty program canada goose outlet real.
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