How to redeem Credit Card points?

You have been using your Credit Card for months, racking up points for everyday purchases. As you look at your statement, those points feel like hidden treasure. What can you do with them? Whether booking a dream holiday, getting cashback or treating yourself to a nice dinner, redeeming your Credit Card points can be incredibly rewarding. But if you are unsure how to go about it, don’t worry! This guide will address how to redeem Credit Card points.

Reward points simplified

Every time you make a purchase using your Credit Card, you earn reward points. Premium cards tend to come with higher reward points, thus offering higher value. Rewards points are available on both offline and online purchases.

Certain co-branded cards may offer higher reward points on specific brand-related purchases, and lower points for others. Read the terms and conditions of your card to understand exactly how the reward allocation system works.

Key redemption categories

It’s important to understand what products and services you can redeem with your reward points. Here’s a snapshot of key redemption categories -

Curated products

You can redeem your reward points in exchange for a wide range of curated products from multiple categories such as electronics and accessories, home decor products, travel accessories, personal care and grooming products, toys and games, etc.

Instant vouchers

You can redeem your reward points in exchange for vouchers for popular brands offering a wide range of products and services. Categories can range from wellness, entertainment and apparel brands, to health, beauty and travel.

Air miles and travel services

Some cards also allow you to redeem your reward points on air miles, thus bringing down your travel costs. You may also be able to redeem them against travel-related expenses, such as hotel stays and car rentals.

Cashback

This is another popular category where instead of points, a percentage of the value of your Credit Card spending is credited back to your account.

How to redeem your reward points

Online

• Log into your bank’s mobile app or via NetBanking.
• Visit the 'Rewards' section and click on the redemption option.
• Browse the various categories in the online store and select the items of interest.
• Confirm the redemption.
• Once done, the items will be shipped to your home. Vouchers will land in your email.
• To redeem air miles, log into the frequent flyer programme section and follow the specific redemption process.

Offline

• Visit your bank’s reward store website.
• Browse the various sections and choose the products or vouchers you aim to redeem against the points.
• Call your bank’s customer service, share your credentials, and place an order. They will ensure the redemption goes through.

Also Read: The perfect gift is just a swipe away

Best reward redemption practices

• Always check the status of your reward points in your monthly Credit Card bill. Alternatively, you can check them in the issuer’s mobile app or website.
• Browse the products and vouchers carefully to make the right decision. Treat it like a shopping trip, where you pick your list strategically, and prioritise your needs and wants.
• Ensure that you redeem your rewards before they expire.
• If you have your eye on a product or voucher of a higher ticket size, you may need to be patient and redeem only once you have collected enough reward points.
• If you don’t find anything that suits your tastes, you can consider purchasing a gift for friends and family.

What are the different types of Credit Card reward points?

• Flat-rate cashback: Earn a fixed percentage back on every purchase, regardless of category. Ideal for those who prefer simplicity.
• Tiered cashback: Different spending categories yield varying cashback percentages, such as 2% on dining, 3% on groceries and 1% on all other expenses.
• Bonus points: Earn additional points when you reach specified spending milestones within a set time frame.
• Fuel points: Accumulate points on fuel transactions to enjoy discounts on your next refuel.
• Airline miles: Accumulate points for every rupee spent, redeemable for free flights, cabin upgrades or airline services.
• Travel miles: Similar to airline miles, but can be used for diverse travel expenses, from lodging to rental cars.

The takeaway

Regularly redeeming the reward points on your Credit Card is a great way to cut down on expenses, elevate your lifestyle, and seek out new and unique products and services. Axis Bank offers a wide range of Credit Cards, which come with attractive redemption opportunities that serve diverse lifestyle needs.

You can redeem reward points against curated products, instant vouchers, air miles and cashback. Your Credit Card also gives you access to perks like fuel waivers, complimentary airport lounge access, and exclusive deals and offers.

Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.