6 Ways to Maximize the Benefits of Your Credit Cards in UAE

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Replacing cash with credit card is not always a bad option. With the offer of free credit card by the finance institutions, credit card has become relatively easy to obtain. Also the amount of rewards and cashbacks the credit card offers, sometimes it is better to use credit card to pay for expenses rather than use cash. It is a fact that cash payments offer no benefits. Whereas credit card rewards its customers with cashbacks, air mile, bonus points, discounts, movie offers, offers on golf club memberships, fuel benefits, restaurant discounts, etc.

Below we have listed 6 ways to maximize the benefits of your credit card in UAE:

Choose the Credit Card according to Your Needs

Each credit card comes with benefits targeted towards specific consumers. These benefits can come in the form of cashbacks, air mile, offers on movies, offers on golf clubs, etc. For example, credit card with fuel benefits would get reward points, cashback, discounts or free fuel after a certain usage. Likewise, an air mile credit card would give you benefits with lounges, free air ticket or discounts on hotels. So, choosing the credit card based on your needs is a really important point to make the most of your credit card benefits.

Use your Credit Card for Daily Expenditures

As stated above, using your credit card can help you earn rewards and benefits. Accordingly if you use credit card to purchase daily expenses, you might benefit from it handsomely. Some credit card offer discounts on almost every household needs. Also frequent use of credit card for necessities can earn you higher benefits in terms of discounts or rewards. Replacing cash with credit card will be much beneficial in terms of savings and rewards. Cash don’t save your finances but credit card does.

Use your Credit Card Benefits Before it Expires

Some credit card has expiry date on the benefits while some don’t. It is of importance to know the expiry date of your credit card benefits. As some credit card has the expiry date of 2-3 years while some credit card benefit last for a lifetime. If you don’t want to have your hard-earned credit card benefits to go to waste, use them before expiry.

Utilize your Reward Points Carefully

Most finance institutions rewards their customers with vouchers, discounts, lounge access, movie discounts, etc. as benefits for the credit card usage. These types of offers would be in partnership with various brands. However, there is one more way to utilize your credit card reward points. You can use your reward points to pay your credit card bills. Some finance institutions allow for the adjustment of the credit card bills with the reward points collected.

Increase your Credit Limit

What many customers don’t realize is that their credit limit affects their credit score. Credit score, accordingly, affect personal loan requests. Having a higher credit limit, with credit card bills paid on time, puts a positive impact on credit core. It raises the possibility of approval of the personal loan request. Note that the bills for the card payments need to be on time too. Higher credit limit impacts the loan amount too. Having a high credit limit can increase the amount for the personal loan too.

More Than One Credit Card

Although having more than one card is not recommended by many, it can turn very beneficial if used wisely. It is common knowledge that credit cards don’t offer multiple categories of benefits in one card. One credit card can have one type of benefit. It can be any one from the following benefits i.e. air miles points, cashbacks, reward points, etc. But if you have more than one credit card, then you can use the credit cards according to the benefits and enjoy the extra benefits.

For example, you have a credit card with air mile point but your purchase can only give cashbacks, in cases like that rewards usually go to waste as it doesn’t get utilized fully to its potential. Rather than waste your credit card benefits by making various purchase in one card, you can use your second card and get full benefit on the designated credit card. However, if you can’t limit your expenses, it would be better to stick with one low limit credit card.

In Conclusion

Customers tend to skip over the fine print which is a big mistake in general. The terms and conditions give a detail idea on how the benefits and rewards are awarded to each credit card.  Getting a detail idea of your credit card’s uses and reward criteria can help you earn much higher benefits and rewards. Also, it is important to take into account the expiry dates of your rewards. Don’t let your hard earned rewards go to waste and use it wisely.

Also compare credit cards UAE to find the credit card that offers the best rewards according to your needs and usage.

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