How to Earn and Redeem Credit Card Points?

September 18, 2019


Today, a lot of people use a Credit Card for various online transactions and enjoy the benefits that come with it. In this write-up, we state how you can earn and redeem the Credit Card points.

Today, all the major banks in India offer Credit Cards and the credit companies generally reward the cardholders with attractive freebies, discounts and gifts. The Credit Card points encourage the users to use their Credit Cards for various transactions like shopping, utility bill payments, travel and dining.

If you are a Credit Card holder, every time you use a Credit Card for any transaction, you get certain points, which you can redeem later for a variety of gifts and perks. You must, however, know that the reward points you earn are only the perks you get from the bank, and it is not a way to earn the money back. But, if you have accumulated enough reward points, you can use for buying free merchandise, or redeem it for free air miles and vouchers.

How can you earn reward points?

Every bank follows its own method of offering reward points. The points you earn will vary depending on the type of credit you have – whether it is a basic card or a high priority card. The Credit Card companies generally offer reward points in the following ways:

Welcome bonus

Most banks provide attractive bonus points when you subscribe to their card. Depending on the type of card you subscribe for, you can earn up to a few thousand reward points as soon as the card is activated. Some banks also allow additional reward points for spending a certain amount within 60-90 days of issuing the card.

Regular reward points

All the major banks in India that issue Credit Cards provide a specific number of reward points for every INR 100 you spend on the Credit Card. The points you earn can range from 1 point to 10 points or more based on the type of credit you have.

Accelerated points

When you spend on certain special categories such as partner restaurants, partner stores, you get additional points, apart from the regular points. For example, if you are using a travel Credit Card, you can earn extra points when you spend on booking air, rail or bus tickets.

International reward points

Some cards provide additional points for spending in a foreign country.

Loyalty points

Most banks reward their loyal patrons by way of loyalty points. You can earn attractive reward points when you renew your card.

How to redeem Credit Card points?

One of the easiest ways to redeem your reward points is through online banking. You must link your Credit Card to your bank account to access your Credit Card details. Once the card is linked to your account, you can view the Credit Card statement, pay your Credit Card bill, review the rewards summary and redeem the points. You can access the reward catalogue and choose the best gift that you like; place the order for the merchandise you like, and gift will be delivered to your registered address. If you do not want to link your Credit Card to your bank account, you can redeem your rewards points through e-mail or phone. Contact the Customer Care of the bank and request for the redemption of your reward points. You would be required to provide details like the Credit Card number and answer verification questions. You may also be required to download the redemption form, fill it up and e-mail it to the Customer Care requesting your choice of gift.

Majority of the Credit Card issuers in India have partnerships with plenty of retail and online stores. You can shop at any of these partner stores and pay for the purchases through the reward points.



The contents of this document are meant merely for information purposes. The information contained herein is subject to updation, completion, revision, verification and amendment and the same may change materially. The information provided herein is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would (by reason of that person‘s nationality, residence or otherwise) be contrary to law or regulation or would subject lClCl Bank or its affiliates to any licensing or registration requirements. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Please obtain professional legal, tax and other investment advice before making any investment. Any investment decisions that may be made by you shall be at your sole discretion, independent analysis and at your own evaluation of the risks involved. The use of any information set out in this document is entirely at the recipient's own risk. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith by lClCl Bank and from sources deemed reliable. There can be no assurance that such projections will prove to be accurate. lClCl Bank does not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information set out in this document has been prepared by ICICI Bank based upon projections which have been determined in good faith and sources considered reliable by lClCl Bank. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. 'lClCl ' and the 'I-man' logo are the trademarks and property of lCICl Bank. Misuse of any intellectual property, or any other content displayed herein is strictly prohibited.