Credit Card Rewards: How to make the most of cashbacks

financialexpress.com:

Credit card cashback offers not only help us save money, but also give us opportunities to reduce costs on our daily expenses. This could involve shopping, eating outside or even paying your utility bills. However, did you know that with proper planning, you can double your cashback rewards?

Here are some key strategies to maximise cashback rewards on credit cards.

The first step in maximising your cashback rewards is selecting the right credit card. Different cards offer varying cashback rates based on categories such as groceries, fuel, dining, and more. Adhil Shetty, CEO, Bankbazaar.com, says an individual should identify her spending patterns and choose a card that offers higher cashback percentages on categories where she spends the most. “Additionally, look for cards with welcome bonuses or promotional offers to kickstart your cashback earnings,” he says.

Also Read: Senior Citizen Fixed Deposits offering up to 9.1% return – Check full list

Many credit card issuers collaborate with merchants to offer exclusive discounts and increased cashback rates. Keep an eye on your card issuer’s website or mobile app for ongoing partner offers. By shopping at partner stores or using partner services, you can often earn double or even triple cashback rewards compared to regular transactions.

Some credit cards host special events or promotional periods where they offer enhanced cashback rates or multiplier benefits. These events may coincide with festive seasons, shopping festivals, or specific days of the week. Plan your major purchases during these events to capitalise on higher cashbacks and maximise your rewards.

Smart cardholders know how to stack offers to multiply their benefits. Combine cashback offers with discounts,