Thread Rating:
  • 3 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Rewards points on credit cards
#21
It's kinda cool to earn points using your credit card there are some areas are good and there are some areas of it are bad.

So to earn points you need to spent lot of money also to redeem your points.
Reply
#22
How to redeem points?

What to redeem on. Earlier, banks offered a limited catalogue of products. Plus the prices were very high and one couldn't negotiate on them. But now there is a laundry list of what you can do with the points.

For starters, there is the conventional catalogue that includes apparel, gadgets, jewellery, luggage items, and the like. You can also encash your points against gift vouchers. For instance, with HDFC Bank's Gold Card you can get gift vouchers from Domino's, Cafe Coffee Day, Pantaloons, Westside, Lee, Music World and Landmark.

Going a step further, some banks have tie-ups with certain merchants where you can redeem points instantly. You don't have to contact the bank and get vouchers; you can pay using the points.

When the card is swiped, the reward points get reflected on the machine. So, if you have accumulated points worth, say, Rs 500 and you buy goods worth Rs 1,000, the merchant will offer you the choice of using your points for payment.

Some banks now offer air tickets on reward points, a feature that was earlier limited to co-branded cards. For instance, HDFC Bank has tied up with Jet Airways, Indian and Kingfisher Airlines to allow its card users to convert their reward points into air miles. The value of one air mile is usually equal to one reward point.

"The air miles required to get complimentary tickets would depend on the airline and the travel sector," says Parag Rao, executive vice-president, head (product and portfolio management), credit cards, HDFC Bank.

Some banks, like Bank of Baroda, also let you redeem your reward points against cash. That is, cash corresponding to your reward points are credited to your account. Deutsche Bank does the same on its Gold Card, but also offers a gift catalogue.

Procedure. You can redeem your points by filling up a redemption coupon which is there on banks' website. You could also use the phone banking option. For web-enabled credit card holders redemption can happen online. The banks can take anywhere between a week to a month to redeem the points.
Reply
#23
I do, and i think most of us do, so you should too. Smile. Technically it is yours to spend so why don't take advantage of it. You can buy stuffs or save money by using those points. It is like an extra budget for you. Use it or reserve it for something big like what your friend does. You can have many benefits from your points.
Reply
#24
(01-28-2018, 05:13 AM)marblank1313 Wrote: I do, and i think most of us do, so you should too. Smile. Technically it is yours to spend so why don't take advantage of it. You can buy stuffs or save money by using those points. It is like an extra budget for you. Use it or reserve it for something big like what your friend does. You can have many benefits from your points.

You're right by saying that it is something that most of us would definitely want to do for it is a free way of spending, but what we tend to forget is that there are certain amount of credits that we would have spent before getting to that point where we are meant to spend such reward points as well. 
Reply
#25
(01-07-2018, 06:15 PM)kgord Wrote: Do you take advantage of rewards points on credit cards? I don't have a card now that offers that, but I have had some in the past. My friend used to get airline miles on his card. He took 3 of us to Alaska one time just from the points on his card..That was pretty awesome!
Base on what's your friend experience. I think you should also get a credit card that have reward points system. Maybe someday you can also get a travel package. I am also wanna try it and earn plus save point to get a travel package Smile
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)