Your credit card can take you places: Turn everyday spending into free flights and luxury hotel stays

Perks and points
Lifestyle cards take the cake
Over a decade ago, when I was still courting my (then) future wife, I shared a mantra with her that I followed. As a road warrior, the most points I was earning wasn't by flying, but by using the right credit card s for my spending. I advised her to do the same. As Indians, we are raised to be wary of credit. 'Credit card' is a bad term as people equate it with losing self-control and going on a spending binge with no money to pay dues. However, if you resist that urge, credit cards can be the best way to earn points for travel. By replacing cash or UPI spends with credit cards, you spend the same amount of money, but get rewards in the process, and some form of purchase protection, which makes it a better form of spending money for you.Airlines/hotel programmes often join hands with card issuers to bring out co-branded credit cards, which provide users with perks as well as points on spending— but only with the loyalty programme they 'co-brand' with. Jet Airways and Vistara used to run very successful co-branded credit cards. Now, all eyes are on Air India and IndiGo to launch their cobranded credit cards, where spending gives airmiles that can be used for future travel.Recently, India has witnessed the launch of hotel co-branded cards. Marriott and HDFC Bank offer one that costs Rs.3,000 in annual fees, allowing a free night's stay at Marriott hotels the world over and redemption of up to 15,000 points. The cash value of the stay could be as low as Rs.10,000 and all the way up to Rs.20,000. So it is a handsome investment. On the other hand, the HSBC Taj Credit Card costs Rs.1,10,000 a month, but provides access to the Taj Chambers, free meals, and complimentary stays at Taj Hotels and Palaces across India.Foreign airlines, too, have been making a beeline to launch their credit cards in India, though they mostly target existing members of their loyalty programmes. Etihad and Singapore Airlines offer co-branded cards with SBI Cards; Qatar Airways and British Airways with IndusInd Bank; Emirates with ICICI Bank; and Lufthansa with Axis Bank . These cards turn your daily spends into miles, which can supplement the airmiles you earn by flying with the respective carriers.Lifestyle credit cards are premium options that may soon take over as the largest generator of points, which can be redeemed as airmiles or hotel rewards. Back in the day, Citi and American Express offered customers the option to transfer points to various loyalty programmes. HDFC Bank , which became the exclusive partner of Diners Club in India, joined in as well, with all firms using their international contracts to offer this benefit.In 2022, Axis Bank introduced conversion of points from its EDGE Rewards/EDGE Miles accounts to 20 different airlines and hotel partners. Among the cards with this facility, Magnus for Burgundy, Atlas, and Olympus provide very attractive conversion ratios. HDFC Bank launched a similar offering for its Infinia and Diners Club Black cardholders. HSBC, too, has started conversion of points this year to over 20 airline and hotel programmes.Such cards are a better way to earn and spend rewards as you can move the points around depending on your use case. For instance, if you need to fly for a meeting in Japan, you may transfer your points to Japan Airlines for redemption and booking tickets. But if you wanted to fly to the US, you could transfer points with Air India, Air Canada and many other carriers for the same process. HDFC Bank also has the Smartbuy website, where you can use points for revenue ticket redemptions for up to 70% of the ticket price.Ultimately, most people don't travel daily, but continue to spend money on a regular basis. So, if you get the right credit cards, you can use them to convert reward points into subsidised travel on an ongoing basis. This is what I call having your cake and eating it too!The author is founder of livefromalounge.com and loyalty programme consultant.

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