25 OCTOBER, 2022

If someone asks you to name a place you want to travel to, you will probably have no trouble answering. We all have that dream destination on our bucket list. But the lack of money prevents most of us from packing up and leaving.

What if there was a way to save money by spending money? Sounds like a deception, right? Well, it’s not. You can earn reward points while paying through your credit cards.

Here, we will discuss how to earn travel reward points on the Kotak Zen Signature credit card.

These days, most people have access to some or the other credit card. You must be aware that credit card issuers offer rewards and perks for utilising their cards for shopping and other expenses depending on your credit card type and its limit. Premium credit cards are usually the most rewarding among the various types of credit cards. Additionally, different card types have different reward mechanisms. For instance, a shopping credit card gives rewards on shopping transactions, while a travel credit card on travel-related transactions. This means you can apply for different credit card types to benefit from your varied daily spending. Like a utility credit card to benefit from your utility bill payments, a shopping credit card to earn rewards on your shopping, etc. However, keeping track of multiple credit cards and their due dates can be a hassle. So, if you want to avoid all such inconveniences, you can apply for a credit card that rewards you for different spending behaviours. One such credit card that rewards cardholders on purchases of different segments is the Kotak Zen Signature credit card.

The benefits of Kotak Zen credit are immense. This card gives rewards, travel points, milestone benefits, etc. and is easily accessible to customers.

You can earn travel reward points on your credit card in several ways. Below are some tips that will help you save travel reward points which you can use to go to your dream destination.

1. Access to or having the right card is essential in earning travel reward points. If you are wondering which is the best credit card, you may struggle to find one as it all depends on your specific requirements. As discussed above, different types of credit cards reward different spending behaviours and patterns. Many cards are tailored for specific end-use and reward cardholders for that particular usage. Since you are particularly looking for travel reward points, it makes sense to have or apply for a credit card that offers points on travel and related expenses.

2. Welcome offers: Many credit card issuers provide welcome offers to their cardholders. This offer is usually extended with some terms and conditions. Typically, this may be a spending target that you must achieve to be eligible for the welcome offer. While this may be used as an attraction to attract more customers by the card issuer, it does not mean that you cannot benefit from such an offer. If you strategically plan your spending to meet the specified target, you can benefit from such an offer. This is especially true for a travel credit card that rewards you for travel-related expenses. However, before applying for such a credit card to avail of its welcome offer, plan your future expenditures to achieve the qualifying spending target.

3. Skip cash payments: Stop paying for your purchases or expenses by cash; instead, transact through your credit cards to earn reward points. The phenomenal technological advancement and the resulting digital banking infrastructure have enabled us to use credit cards to pay for our expenses. Nowadays, almost every merchant accepts digital payments or has a POS (point-of-sale) for customers. Using your credit cards for your expenses will take you a step closer to a reward or offer. Also, this may help you avail of the welcome offer in case you have received a new credit card.

4. Smart spending: Strategically plan out your daily and monthly expenditures and utilise them tactfully to benefit the most from your credit card’s reward structure. Each card has a specific reward system for different bonus categories, which reward users for spending on different types. For instance, instead of spending on a random e-commerce site or merchant, spend your money at those merchants and business establishments that reward you for purchasing from a credit card. Typically, many merchants and businesses have tie-ups with various credit card issuers to help each other; the business gets more sales, and your card issuer gets some percentage or commission on sales transacted through their cards. Utilising your fund smartly, even during your travels, can help you earn more travel reward points. Spend on airline shopping portals and dine at restaurants that reward you or are in your credit card provider's networks.

5. Redeeming your travel reward points: Many reward points, including travel reward points, have a date of expiration. It will be heartbreaking if you cannot reap the benefits of all your saved travel reward points due to expiration. To avoid this, you can regularly check your credit card statements for reward points, including travel reward points, and keep track of the total number of points. Their corresponding expiration date is to take advantage of your reward points.

As the name suggests, travel reward points are rewards for travel-related activities and expenses. This may include cheaper flight, train, or bus tickets, airport lounge access, discounted hotel accommodation prices, etc.

Credit cards can be a game changer if utilised wisely. Spending tactically to maximise the reward points is a great way to earn and accumulate your travel reward points. The key component in earning travel reward points or any other reward points is paying your credit card bills on time. Paying your monthly credit card bills on time will also improve your credit score.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.