How to redeem Credit Card reward points

Credit Card reward points can be redeemed for different products and services. Here is how to go about it:

One huge advantage of Credit Cards is that most of them offer reward points for every transaction made. A Credit Card may offer 2 reward points for every Rs. 150 spent. Some Cards may also offer 2X, 5X or 10X reward points for certain transactions like shopping at partner sites and buying fuel or air tickets.

Reward points can be redeemed for several purchases. These could be flights, hotel stays, mobile recharge products, and gadgets. You can also redeem your Credit Card reward points for gift coupons and vouchers of different retail brands and restaurants, which you can in turn redeem to make purchases or eat out. You can also redeem reward points for selected merchandise or customised gifts from a rewards catalogue. The rewards catalogue will list the products available, as well as the reward points needed for each of those. For example, you may need to redeem 15,000 reward points for a watch that is worth Rs. 5,000.

Banks give you the option to redeem your reward points both online and offline. Let’s look at how to do that.

1. Login to your rewards account using your user ID and password. For RBL Bank, the Rewards Portal can be found at www.rblrewards.com.

2. Choose your reward. Then, click on the relevant link. The categories listed can be gift coupons, mobile recharge, shopping vouchers, travel, and so on. If you want to book a flight, click on travel and then choose the flight and select the number of points you want to redeem. If you want to get dining vouchers, click on ‘Food/Beverages/Dining’ and choose the voucher of the restaurant where you want to dine. Similarly, pick rewards from other categories.

3. The next step is to click on ‘redeem reward points’ and select the amount of points you want to redeem. For example: if a Pizza restaurant may be offering dining vouchers worth Rs. 500 if you redeem 1,500 reward points. By redeeming 9,000 reward points, you can get vouchers worth Rs 3,000. You can use these vouchers to pay your bill the next time you go to that restaurant.

4. Once you select a reward, a One Time Password (OTP) will be sent to your registered mobile number. Once you enter the OTP, the transaction is done.

5. The reward vouchers are sent to you by email or post. If you are redeeming your reward points for a product, it will reach your postal address within 7-10 days.

1. By calling customer care: You can also redeem reward points by calling up the bank’s customer care helpline. The customer care executive will explain to you the entire redemption process, how many reward points you have, and also the options you have to redeem your points. You can then place your redemption request with the customer care executive. The product or vouchers you select will be delivered to you by post.

2. By post: You can download the redemption form from the website. Fill it up with all the required details like selected reward, points to be redeemed and so on and mail it to the bank’s address. The bank will process the reward redemption request and do the needful.

Reward points are a great way to get rewarded for your Credit Card spends, and to save money on future purchases.