DelhiDesk An increasing number of individuals are signing up for multiple credit cards to earn enough reward points to fund their travel budgets, including flights and hotel stays. They fund all their expenses through credit cards and take advantage of perks such as cashbacks and vouchers for buying gadgets, shopping on e-commerce sites, watching movies and dining out. However, making the most of rewards depends on spending ability and the type of credit card used. Most rewarding cards involve high annual charges, and chasing rewards runs the risk of overspending. It is crucial to settle all dues in full and on time and to assess cash flows before spending on credit cards.
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– Individuals are using credit cards to amass reward points to fund their travel budgets, including flights and hotel stays.
– Funding all expenses through credit cards can earn rewards, including cashbacks and vouchers for buying gadgets, shopping on e-commerce sites, watching movies, and dining out.
– Business owners can also fund business expenses using credit cards for sweeter deals.
– Wringing out maximum benefits depends on a host of factors, including spending ability and the type of credit card used.
– Credit card enthusiasts own at least 10 credit cards and strategically choose cards based on their needs and preferences.
– Most rewarding cards are premium products with high annual charges, and overspending can be a risk.
– Assessing cash flows before spending on credit cards and settling all dues in full and on time is crucial.
– Award tickets (flight tickets bought through airmiles) are limited, so one needs to book them in advance.
– Paying on time is crucial when owning multiple cards as even one default can bring down cibil scores by 80-90 points.
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