Credit Card Tips: This credit card option can reduce the burden of your pending bills.
Using credit cards comes with many benefits. Credit card companies keep launching new offers and features every day. If you know how to use credit card reward points, then it is worth the money. But do you know that you can also pay your credit card bill with your reward points? That is, the benefit itself was encashed.
Reward points can be cashed
You must be aware that you can use your reward points by redeeming them. You get different types of reward points on different cards which you can use to buy vouchers or use them for cashback. There are some offers where you can convert your reward points into cash.
Bill can be paid with reward points
But apart from this, on some credit cards you also get the facility that by cashing the reward points, you can also pay the pending bill of your card with the same. Now you can pay your entire bill or only a part of the bill, depending on how big your bill is and how many reward points you have collected so far. You should know here that the value of reward points may vary on different cards. For example, the value of one reward point can be 25 paise, while on some cards the value of one reward point can be 50 paise.
How to use it?
First of all, find out whether you get this facility on your credit card or not. While purchasing your next credit card, you can also ask your issuer whether it is offering you this feature or not. If you have this facility on your card, then go to the website of your bank or credit card issuing company and get your points converted into cash. Select the bill payment option so that this cash amount will be adjusted in the next billing cycle of your credit card bill.
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