How to Earn Credit Card Points in 2024? Credit card points can unlock a world of rewards, ranging from cashback and travel discounts to exclusive gift cards and experiences. Earning these points has become a smart way to make the most of your daily spending.
If you’re new to the concept or looking for strategies to maximize your rewards, this comprehensive guide on how to earn credit card points in 2024 is just what you need.
What Are Credit Card Points?
Credit card points are rewards that issuers offer for spending on your card. These points can often be redeemed for various benefits, including:
- Cashback
- Air miles
- Hotel stays
- Online shopping vouchers
- Exclusive merchandise
Each point has a certain monetary value, which varies depending on the card issuer and the redemption category.
How Do Credit Card Points Work?
When you use a credit card for purchases, you earn points based on the amount spent and the type of transaction. For example, some cards offer higher points on dining, travel, or online shopping, while others provide flat points across all categories.
Most reward systems follow this general process:
- Earning Points: Spend money using your card and accumulate points.
- Tracking Points: Keep track of your points balance via your bank’s mobile app or website.
- Redeeming Points: Exchange accumulated points for rewards via the issuer’s rewards portal.
Top Ways to Earn Credit Card Points in 2024
1. Choose the Right Credit Card
The foundation of earning more points is selecting a credit card that matches your spending habits.
- Frequent Traveler? Opt for a travel rewards card offering air miles.
- Shopaholic? Look for cards with high points on retail and online purchases.
- Everyday Expenses? Go for a card with multipliers on groceries, fuel, and utility payments.
2. Maximize Welcome Bonuses
Many credit cards offer substantial welcome bonuses when you meet a minimum spending threshold within the first few months.
- Example: Spend ₹50,000 in the first 90 days and earn 20,000 bonus points.
Take advantage of this by timing big purchases or planned expenses to coincide with your card’s welcome bonus period.
3. Spend on Bonus Categories
Certain cards offer extra points on specific categories like:
- Dining and entertainment
- Travel bookings (flights, hotels, and car rentals)
- Groceries and department store purchases
Use your credit card strategically in these categories to maximize point accrual.
4. Leverage Special Promotions
Banks often roll out promotions where you can earn additional points during a specific time or for spending on select merchants.
- Example: 5x points on transactions with partnered e-commerce sites during the festive season.
Stay updated by checking your credit card provider’s website or subscribing to their email alerts.
5. Utilize Add-On Cards
Add-on cards (or supplementary cards) linked to your main account can boost point earnings. Transactions made using these cards contribute to the same rewards pool, allowing you to accumulate points faster.
6. Pay Bills with Your Card
Use your credit card for routine bill payments, such as:
- Electricity and water bills
- Internet and mobile bills
- Subscription services (Netflix, Spotify, etc.)
This approach turns your regular expenses into point-earning opportunities.
7. Shop Through Rewards Portals
Many banks partner with e-commerce platforms and offer additional rewards when you shop via their dedicated rewards portal.
- Example: Earn 10x points when you shop on Amazon or Flipkart through your card issuer’s shopping link.
8. Refer a Friend
Credit card issuers often reward cardholders for referring friends. For each successful referral, you may receive bonus points or other rewards.
- Example: Refer a friend and earn 5,000 points when they activate their card.
9. Use Your Card for Travel Expenses
Travel credit cards reward users with significant points on:
- Flight bookings
- Hotel stays
- Car rentals
Booking through partnered platforms often yields even higher rewards.
10. Pay Big-Ticket Purchases
Large transactions, such as buying electronics, booking vacations, or paying educational fees, can quickly rack up points. Ensure you have the capacity to pay off these purchases on time to avoid interest charges.
Pro Tips to Maximize Credit Card Points
| Tip | Explanation |
|---|---|
| Pay in Full and On Time | Avoid interest charges, as they nullify the value of the rewards earned. |
| Combine Points with Other Rewards | Use points alongside cashback offers or discount codes for double benefits. |
| Monitor Expiry Dates | Redeem your points before they expire to avoid losing them. |
| Opt for Annual Fee Cards | Cards with annual fees often offer better rewards that outweigh the fee cost. |
Popular Credit Cards for Earning Points in 2024
| Credit Card | Best For | Rewards |
|---|---|---|
| HDFC Diners Club Privilege Card | Travel and Dining | 4x points on travel and dining transactions |
| SBI SimplyCLICK Credit Card | Online Shopping | 10x points on Amazon, BookMyShow, and Cleartrip |
| Axis Bank Magnus Credit Card | Premium Travel | 12 points per ₹200 spent on international expenses |
| ICICI Amazon Pay Credit Card | Online Purchases | Up to 5% points on Amazon purchases |
Avoid These Common Mistakes
- Ignoring Annual Fees: Evaluate whether the rewards outweigh the card’s annual fees.
- Carrying a Balance: Paying interest charges negates the value of earned points.
- Spending for Points: Only spend on things you need, rather than chasing points at unnecessary costs.
Redeeming Credit Card Points
Redeeming points effectively is just as important as earning them. Use your points for rewards that provide the highest value, such as travel discounts or exclusive gift cards. Most issuers have an online rewards catalog where you can browse redemption options.
FAQ about How to Earn Credit Card Points in 2024
Do all purchases earn credit card points?
Not all transactions earn points. Certain transactions, like cash withdrawals or government payments, may be excluded.
How can I track my points?
You can track your points via your card issuer’s mobile app or online portal.
Do credit card points expire?
Yes, many points have an expiry period, typically ranging from 2 to 3 years. Check your card’s terms and conditions.
Can I transfer points between cards?
Some issuers allow transferring points between cards of the same issuer, often with fees or restrictions.
Are there any charges for redeeming points?
Most redemptions are free, but some premium rewards may include a nominal fee.
Conclusion
Earning credit card points in 2024 is easier than ever with the right strategies and awareness of your card’s benefits. From shopping smartly to leveraging special offers, you can make the most of every transaction. However, it’s crucial to use credit responsibly—pay your balances on time and avoid overspending just to earn points.
Start by reviewing your spending habits, choosing a suitable credit card, and staying updated on promotions. With consistent effort, you’ll accumulate points that can lead to exciting rewards and savings!
