New Delhi, Oct. 16 -- During the festive season, credit card reward points can help cardholders save money on e-commerce purchases, travel, everyday spending and other expenses.

However, when these points approach their expiry date, credit cardholders may feel pressured to redeem them before they lose their value. This raises an important question: Should you make a purchase simply to avoid losing your rewards? How should you handle expiring points, and what strategy should you follow?

The answer depends on the available redemption options, the value of the points, and an individual's budget. Spending more than planned to redeem expiring rewards can strain finances and potentially affect a person's credit profile if it leads to higher o...