New strategy boosts credit card rewards on bulk payments

Many people want to maximize their credit card rewards while handling bulk payments. However, paying bills directly usually does not earn rewards. A method to earn more points involves using banks' accelerated reward portals. Banks like HDFC, Axis, and American Express have special portals that offer more reward points for certain transactions. For example, HDFC's SmartBuy and Axis's Travel Edge provide options for earning higher rewards. Some portals also offer vouchers for popular services such as Amazon Pay and fuel discounts. To use this hack, you might pay a large bill, such as an electricity bill of 10,000 rupees. Typically, direct credit card payments for utilities do not offer rewards. However, by using these reward portals, you can earn many points instead. Generally, you might receive five reward points for every 150 rupees spent. With this strategy, you could get 25 points for the same amount. While using this method, you should be aware of convenience fees. For instance, HDFC's SmartBuy charges a 2% fee, while American Express charges a smaller fee. High-end cards, like HDFC Infinia, can offer significant returns even after fees are deducted. However, there are limits. Many portals allow only up to 10,000 rupees in vouchers per card each month. If you need to pay a larger sum, you can split your payments across different credit cards to stay under this cap. For example, if you owe 30,000 rupees, buy three 10,000-rupee vouchers using different cards. This strategy is most helpful for premium credit cards. If you have a card with lower rewards, the effort may not be worth the small gain. Always check if your vendor accepts Amazon Pay as a payment method, as this can affect your ability to earn additional rewards. In summary, using credit card reward portals can help you maximize your points on bulk payments, but it is essential to understand the fees and limitations involved. Always plan ahead to make the most of your credit card rewards.