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Reward Points on Credit Card

Banks and lenders that offer credit cards have significant reward programmes to go along with them. You earn credit card reward points each time you make a purchase through the credit card. While the number of points you are rewarded vary as per the cost of the purchase, you can ultimately redeem these points by availing different products and services. 

How to Earn Reward Points on Credit Cards

Most credit cards offer similar categories of reward points. Read on below to learn about the most common ones. 

Reward Points

How to Earn Points

Welcome Points

When you become a cardholder

Accelerated Points

Points earned on purchase of special categories

Loyalty Points

When you renew your card

Bonus Points

Earned when you spend above the required limit

High-value Purchase

Earned when you spend on expensive goods or travel 


How to Redeem Credit Card Reward Points

To redeem credit card points, there are a few steps you are required to follow before you attempt to redeem credit card points. 

  1. Make sure that you have the minimum points that can be redeemed as per your lender’s provisions. 

  2. Keep an eye on the expiry date for the credit card points and make sure to redeem them before they run out.

  3. Check the fee payable for redeeming the credit card rewards and make sure to factor it in a while redeeming the rewards.

Reward Points on Top Credit Cards

Read below to learn about the reward points offered by top credit cards in India. 

Credit Card

Benefits of Reward Points

SBI Prime Card

20 reward points for every Rs. 100 spent on utility bill payments

HDFC Regalia Credit Card

10,000 reward points for annual spends of Rs. 5 lakhs

Axis Bank SELECT Credit Card

10 Edge points on every Rs. 200 spent

HSBC Visa Platinum Credit Card

2 reward points for every Rs. 150 spent

RBL Bank Icon Credit Card

2 reward points for every Rs. 100 spent


How to Make the Most of Your Credit Card Reward Points

While credit card reward points span a range of products and services, you can use them wisely to avail the most advantage for you. Read on below to learn more. 

  • Cash is always more appreciated than any products or services. Check if your lender allows you to cash out your credit card points.

  • Keep an eye out for products or services that you may have an interest in availing and take advantage of the discounted rates.

  • Use one credit card to maximise the collection of reward points and avail the highest benefits.

  • Keep an eye out for the expiry date so that you have plenty of time to redeem your reward points. 

  • Assess the credit cards available on the basis of the reward points they offer before opting for one.

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FAQs on Credit Card Reward Points

✔️Can I use my reward points to pay my credit card bills?

You will have to check with your lender if they allow you to pay credit card bills through the reward points you collect.

✔️Can I convert credit card reward points to cash?

Most lenders enable you to convert credit card reward points to cash through their net banking portals. However, check with your lender on their procedure.

✔️What can I do with credit card reward points?

Your credit card reward points can be redeemed as cash or used to shop online or for air miles.

✔️ Which credit card is best for reward points?

It is important for you to assess the reward points offered by different credit cards since the kinds of rewards offered by different lenders differ significantly. It is best to choose a credit card based on your requirements and interests. 

✔️How can I use my credit card reward points?

Credit card reward points can be used to avail discounts while shopping or for air miles. They can be converted into cash, and some credit cards even let cardholders pay their outstanding bills through their reward points.