HDFC Bank offers a humongous range of credit cards to its customers. You can easily apply for an HDFC credit card online as well as offline. Just having a credit card won’t do the work you need to use a credit card in such a way so that you can make the most out of it. In this article, we have listed below some tips to enhance the benefits of your HDFC Credit Card. Keep reading to kick start your research.
- Choose the right credit card: First thing first, to enhance the benefits of your HDFC credit card you need to choose the right card first. Having the right credit card makes all the difference. You need to begin with identifying your needs and spending habits so that you can select the card that is of the highest value to you and compliments your profile.
- Earn reward points: You need to first be well versed with the rewards program on your credit card so that you can begin using your card for those transactions that let you earn reward points in return. This way you can make the most out of your credit card.
- Redeem rewards before they expire: Another way to enhance the benefits of a credit card is by redeeming the accumulated reward points during the validity period. All credit card issuers have fixed a validity period on their credit cards’ reward points.
- Pay your dues on time: This is the most important one, if you do not pay the credit card dues in full and on time then you can easily land into an unfavorable situation. Paying the dues on time helps in building a good credit score.
- Pay more than the minimum amount: Paying the minimum amount when you are not able to pay the credit card dues in full can help you avoid the late payment charges. However, you will have to pay the interest charges on the rest amount. To avoid paying more you have to pay more than the minimum amount so that you do not feel burdened while paying the rest amount.
- Maintain a low credit utilization ratio: Using a credit limit of up to 30% – 40% can help you maintain a low credit utilization ratio thereby building a good standing account and a good credit score. For this, you can set a threshold limit on your credit card so that you do not use your credit card after reaching that limit.
- Apply for a credit limit increase: To enhance the benefit of your credit card you can also apply for a credit limit increase as it will give you more purchasing power. This will give you more chances to earn reward points in return when you use a credit card.
To conclude, you can definitely maximise the benefits of an HDFC Credit Card by using the above-mentioned tips. To keep the credit card dues clear you can choose to register for the auto-debit services so that you do not have to worry about remembering the due dates of your credit card. Using a credit card wisely is the only key to enhancing the benefits of your HDFC Credit Cards and it will also help in building a good credit score.
Do share your tips on how you maximise the benefits of your HDFC credit card in the comment section.