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Understand what credit card reward points are, how they are earned through eligible transactions, the different redemption options available, and practical ways to maximise their value.
Last updated on: Jul 13, 2026
Reward points are earned when a credit card is used for eligible transactions, and the number of points depends on the type of spend, card category, and issuer-specific reward structure.
The key ways reward points are earned are as follows:
The reward earning structure varies across cards, with each card offering a different mix of regular and accelerated benefits depending on usage patterns.
Reward points are earned based on how and where a credit card is used, with different categories offering varied earning structures and timelines.
| Type of Reward Points | How to Earn Points | When Will It Be Credited |
|---|---|---|
Welcome Reward Points |
On card activation or achieving initial spending milestones |
After meeting onboarding conditions |
Regular Reward Points |
On everyday transactions such as shopping, bill payments, and utilities |
After each eligible transaction is processed |
Accelerated Reward Points |
On specific categories like travel, dining, or online transactions |
After qualifying category spends are completed |
High-value Purchase Points |
On large transactions such as travel bookings or high-ticket purchases |
After the transaction is successfully processed |
International Reward Points |
On transactions made abroad or on international platforms |
After foreign transactions are settled |
Bonus Reward Points |
On exceeding spending thresholds within a billing cycle |
After meeting defined spending conditions |
Loyalty Reward Points |
On card renewal or continued usage over a period |
After renewal or as per issuer’s reward schedule |
Supplementary Card Points |
On usage of add-on or supplementary cards linked to the main account |
After transactions by supplementary cardholders |
The table below provides an overview of selected credit cards available on Bajaj Markets along with their key reward points benefits across different spending categories:
| Credit Card | Reward Points Benefits |
|---|---|
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Disclaimer: Card features, reward points, fees, and eligibility may vary by issuer and card variant. Details are subject to change based on updated terms and conditions. Refer to the official website of the respective card issuer for the latest and accurate information.
You can earn and enjoy a host of benefits when you decide to redeem credit card points as listed below:
Each credit card provider will have a collection of a specific list of products along with the number of reward points needed to purchase that product. These items include apparels, beauty products, stationeries, accessories, electronic gadgets, travel merchandise, etc.
You can use the reward points you earn to get e-vouchers from popular restaurants, merchants, or brands.
Some credit cards allow you to earn air miles directly or with some cards, your points can be converted to air miles. You can redeem these miles for purchasing or availing a discount on your air tickets.
A cashback credit card reward is a bonus provided to users when they spend using a cashback credit card, whether on online shopping or in-store purchases, with the earned cashback often credited to the account or adjusted against the outstanding balance.
Redemption of credit card reward points can be done by donating to the charities listed. You can select the charity of your choice and cash equivalents of the reward points will be given.
Reward points can be redeemed in the following ways:
Step 1: Visit your credit card net banking portal and log in with your credentials.
Step 2: Select from the available options: vouchers, merchandise, or cash credit (if applicable).
Step 3: If you select ‘vouchers’, you will receive a code on your registered mobile number which you can then use to avail of price breaks/discounts while shopping. Alternatively, if you choose ‘merchandise’, you will receive the item at your registered address. Lastly, if eligible for cash credit, the rewards points are converted into cash and added/adjusted against your credit card balance.
1. By Visiting Bank Branch or Via Post
Step 1: Visit the nearest bank branch and obtain a reward redemption form.
Step 2: Fill out the form and submit/send it to the bank’s credit card division.
Step 3: You will receive your order at your registered address within 15 days.
2. By Calling Customer Care
You can easily redeem credit card reward points by calling the customer care team of your credit card provider. The representative will then guide you through the process.
Apart from these, you can redeem accumulated reward points by shopping at retail and online partner stores. Please note that you have to pay for the remaining balance of the purchase with your credit card.
Before you attempt to redeem credit card points, you must consider certain factors:
Minimum Reward Points: Make sure that you have the minimum points that can be redeemed as per your lender’s provisions.
Validity: Keep an eye on the expiry date of credit card points and make sure to redeem them before they run out.
Redemption Fee: Check the fee payable for redeeming the credit card rewards.
Cash is always preferred over products or services. Check if your lender allows you to cash out your credit card reward points.
Keep an eye out for products or services, especially items you have added to the cart for a long time 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 in the market based on the reward points they offer before opting for one.
In spite of rewards being an added advantage, in order to maximise reward points, you must not overspend on your card.
You should periodically check the terms and conditions of the reward points since credit card companies tend to modify the same.
And finally, make sure to pay your credit card dues in full and on time to maximise the benefits of the reward points earned.
Read the Fine Print: Always review your credit card’s terms and conditions. Pay close attention to reward expiration policies, category caps, and any specific clauses that could forfeit your points, such as account inactivity or late payments.
Align Cards with Your Lifestyle: Choose a card whose rewards structure matches your actual spending habits. For instance, if you rarely travel, avoid cards tailored around airline miles or premium lounge perks. Opting for a card that rewards your daily expenses ensures you accumulate and redeem points naturally.
Track Your Points Regularly: Stay updated on your current rewards balance. If you are unsure of your point tally or expiration dates, check your monthly statement, log into your banking app, or contact a customer care representative to ensure you use your points before they lapse.
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You will have to check with your lender if they allow you to pay credit card bills through the reward points you collect.
Most lenders enable you to convert credit card reward points to cash through their netbanking portals. However, check with the lender about the procedure.
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.
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 accumulated reward points.
You can calculate reward points by evaluating the price of the gift available with respect to the reward points in your account. For instance, a credit card company is offering a ₹2,500 purse against 7,500 reward points. Thus, each reward point is 33 paise.
The primary benefit of credit card reward points is that they can be used to avail discounts during shopping. A rewards program gives customers the opportunity to redeem points for rebates and discounts on their purchases once a certain number of points have been accrued.
In most cases, the credit card reward points earned have an expiry period of 24 to 36 months from their earned date unless otherwise specified by the bank. In some cases, if you do not use your card for more than 6 months,the collected points will lapse.
Unfortunately, most financial institutions do not permit you to cancel your request to redeem points if you have raised a request to convert your points into a gift or in any other form.
Yes, there are charges levied on the redemption of reward points. These charges vary from card to card.
No, credit card reward points cannot be transferred from one credit card to another.
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