Credit card issuers always highlight their rewards programme when they talk about their credit cards. They use it as a way to attract more customers to apply for their credit cards and encourage existing cardholders to use them frequently. The banks label their reward programmes differently and the terms and conditions vary slightly from card to card. However, the main idea behind the credit card reward programme is to offer incentives to the credit card holders who use their credit cards more often. They also offer information to their customers about how to use credit card reward points.
Most credit card reward programmes offer points for every ₹ 100 spent on the credit card. Customers need to accumulate reward points until they have enough to redeem them. It is very common to see that people keep accumulating reward points and never redeem them because they have no idea how the redemption process works. Before we dig deeper to understand how you can redeem the rewards, let us learn some important things about credit card rewards.