Optimize rewards across spending categories Premium credit cards typically give more rewards on foreign spends, travel, and dining. For example, HDFC Infinia card offers 10× points for shopping or traveling under SmartBuy, while Axis Bank Reserve card offers good points on foreign spends. By simply using your credit card in segments where you can earn maximum reward, you will be able to accumulate points to redeem for flights, stays, or merchandise—turning your daily spending into working money.
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Optimize travel allowances for comfort and economy Regardless of the frequency of traveling or even traveling for business, having a card that offers unlimited domestic and international lounge privileges will immediately upgrade your travel. Cards like Axis Bank Burgundy Private and Yes Private have been crafted to address exactly such needs. Added on top of frequent flyer club membership benefits and insurance cover for travel that comes built into most of the premium offerings, savvy users get maximum comfort as well as reduced out-of-pocket cost of travel.
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Use concierge and exclusive lifestyle access judiciously Most premium cards also come with concierge services, which can reserve restaurant tables, event tickets, tee times at golf courses, or even assist you with finding unusual gifts. Even ICICI Emeralde Private Metal card provides an access to dining fine clubs and lifestyle memberships. These are transaction convenience beyond—these are experiences that are a part of a premium lifestyle, so it is worth thinking whether you are the type of individual who would enjoy these advantages.
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Strategic management of fee and expense Annual fees on premium cards can range from ₹10,000 to even ₹50,000 or more. But these may be waived off if you spend sufficiently to meet the spending limits or fee waiver limits. Axis Bank Reserve card customers, for instance, get their fees waived off if they meet certain spending limits. It is critical in such scenarios to watch your spends and understand the break-even point.
Maintaining your credit health and reaping benefits Though reward cards may present unrestrained rewards, they can also lead to over-leverage if poorly managed. Paying balancing charges or not making bill payments can translate to run-up interests erasing all benefit from rewards and privileges. To be in a position to appreciate benefits to their full potential, turn your premium card into a mindful spending tool, pay dues in full, and monitor your credit utilization ratio. This keeps you able to appreciate premium benefits without harming your long-term credit history.
