Reward points are considered to be one of the most attractive benefits offered by credit cards . Whenever, one uses a credit card, a few reward points are credited in his/her account. Once the customer has reached a certain reward point threshold, for example, 2,000 points, he/she can redeem the same as gift vouchers, merchandise or cash credit.
There are some banks that offer its customers the option to convert his/her reward points into airline or hotel loyalty points. Banks provide credit card reward points in order to encourage cardholders to spend more.
Below mentioned is the list of 5 best credit cards that offer amazing rewards:
|HDFC Moneyback Credit Card||Rs. 500||2 Reward Points per Rs. 150|
|ICICI Rubyx Credit Card||Rs. 3000||2 Reward Points per Rs. 100 domestically and 4 Reward Points per Rs.100 internationally|
|Citibank Rewards||Rs. 1000||1 Reward Point per Rs. 125|
|SBI SimplySave Credit Card||Rs. 499||1 Reward Point per Rs. 100|
|American Express Membership Rewards Credit Card||Nil||1 Membership Reward Point for every Rs. 50 spent on the card except for fuel, utilities, insurance and cash advances|
SBI SimplySave Credit Card
SBI SimplySAVE Credit Card is best suited for shopaholics. This card aids one to earn rewards and save on his/her shopping expenses. It helps one to earn rewards on potentially high expenditure categories such as grocery, departmental store purchases, dining and movies.
- 1 reward point per Rs. 100
- 10X rewards on dining, movies and groceries
- 2,000 bonus reward points on spending Rs. 2,000 in 60 days
- 1% fuel surcharge waiver on transaction value above Rs.500 and below Rs.3000
HDFC MoneyBack Credit Card
Rewards points earned on purchases made via HDFC Bank MoneyBack Credit Card can be effortlessly redeemed for an impressive range of gifts or air miles. An imperative aspect to note is that only retail purchases qualify for reward points. Fuel transactions, cash advance, fees and other charges do not earn reward points. Also, transactions less than Rs. 150 do not accrue any reward points.
- Customer can earn 2 reward points for spending every Rs. 150
- Customer can earn 2X reward points on online spends
- Customer can earn 100 reward points which is equal to Rs. 20 cashback
- Reward points redeemed by the customer are valid for 2 years from the date they are earned
- It has zero lost card liability
- This card ensures transaction security with its EMV chip technology
- First year waived-off/reversed if the customer spends a minimum of Rs. 10,000 within 90 days starting from the card set-up date
ICICI Rubyx Credit Card
ICICI Rubyx Credit Card enables the customer to earn reward points based on his/her lifestyle, so that he/she can redeem them against things that she/he actually uses. This card is truly a privilege as it is only provided to select customers that are chosen by ICICI Bank.
- 2 reward points for every Rs.100 spent domestically and 4 reward points on every Rs. 100 spent internationally
- 3,000 points on transactions worth Rs. 3,00,000. For every Rs. 1,00,000, one gets Rs. 1,500 reward points
- One can avail 2 free complimentary golfing lessons for every calendar month for every spend Rs.50,000 or above every month
- One can avail surcharge waiver of 2.5% when the card is used for refueling at any fuel outlet in India
- One can use premium concierge services of i-Assist for making travel bookings, hotel reservations, movie and restaurant bookings, etc.
- Customers can avail discounts of up to 15% at partner restaurants featured in the culinary treats program
American Express Membership Rewards Credit Card
American Express Membership Rewards Credit Card allows the users to earn rewards as they spend. The reward points that are accumulated can be effortlessly redeemed against a wide range of gift vouchers and merchandise. However, other American Express benefits are also available on this credit card.
- 2,000 bonus membership rewards points as welcome gift
- 1 membership reward point for every Rs. 50 spent on the card except for fuel, utilities, insurance and cash advances
- One can earn 5,000 bonus membership reward points on payment of annual fee every year
- Customers can redeem his/her reward points against 18 Karat and 24 Karat gold collection
- 20% discount whenever he/she dines at partner restaurants across India
- One can easily convert his/her purchases into EMIs
- One can get two supplementary credit cards at no additional cost
- It has zero lost card liability
Citibank Rewards Credit Card
Citibank Rewards Credit Card is designed to provide best-in-class benefits to shopaholics. The card offers lots of deals and discounts across multiple categories to its users. Additionally, the reward points earned do not expire at any point of time. Cardholders can easily use the reward points and redeem them in exchange for vacation trips, air miles, cash back rewards and online merchandise purchase.
- 2,500 bonus rewards points as welcome gift
- 1 reward point for every Rs.125 spent
- 10X more reward points at apparel and departmental stores
- Customers can also adjust their reward points against the statement balance
- 300 bonus points on spending Rs. 30,000 or more in a month
- One can avail 20% discount whenever he/she dines at partner restaurants across India
- Customers can send flowers, arrange parties, make dining and movie ticket reservations, travel assistance with Citibank concierge services
How to Redeem Reward Points?
Below mentioned are a few ways to redeem reward points:
- Redeem Online: One can redeem his/her reward points using the rewards program portal. The customer can login with his/her login ID and password to see his/her reward point balance and also redeem them.
- Contact Customer Care: One can directly contact customer care which is the second most common option offered by credit card issuers for reward redemption. One can ask about the procedure to redeem his/her reward points.
- Post a Request Letter: A few banks have a designated office to answer the customer queries about rewards and reward points. One must post a letter with the redemption request to the address mentioned on the bank’s website.
Read More: How to Redeem Reward Points