Home Credit Score How to Withdraw Credit Card Reward Points?

How to Withdraw Credit Card Reward Points?

A credit Card is a facility provided by the bank for you to borrow funds from the bank within the pre-approved credit limit.

A credit card can be a powerful tool that you can use to get access to funds. If you know how to use a Credit card wisely, then it is the best tool for making purchases.

Bank provides these credit cards after thorough background and financial checks of a native and after the issuing of the credit card, he/she can spend the funds under the limit and pay it later.

The best thing about credit cards is the conversion of the payments into EMIs, you can easily convert your purchase into an EMI with a nominal interest on your EMI.

Another amazing feature that credit card offers is reward point redemption. For every purchase your make, you’ll get reward points which can be redeemable.

You can accumulate the reward point and withdraw them later for other purchases and save money. There are different types of credit cards and each has its reward points system.

In this article, we will discuss how to withdraw credit card reward points, how to check your reward points, etc.

How to Withdraw Credit Card Reward Points

How to Withdraw Reward Points on your Credit Card?

Every bank has a slightly different reward redemption process, however, the methodology is similar hence, you can follow these steps regardless of the bank and withdraw the reward points on your credit cards-

  • Login to your net banking account at the bank and click login to the account using your login credentials
  • After logging in, navigate to the credit card tab and register your credit card by entering the credit card details in the field
  • Now, you’ll have to navigate to the redeem points button followed by clicking on the continue button to begin the redemption process
  • You’ll be redirected to a new page where you’ll find the various category items and you’ll have to select the “Point Range” and “Item Category”
  • Now, add the item to your cart and click on the checkout button. Your details will be automatically populated and you’ll be able to withdraw the funds easily
  • A redemption request will be initiated and you’ll find the request being processed within a few business days

Withdraw Reward Points through Post

You can follow these steps to withdraw reward points through Post-

  • Download the “Redemption Form” from the official website of the bank
  • Now, fill the form with details followed by preparing an envelope for posting the form along with a stamp
  • Now, post this form to the bank’s address or drop the form in the bank branch’s credit card dropbox

Withdraw Reward Points through Offline Process

You can follow these steps to withdraw reward points through the offline process-

  • Dial in the Bank’s customer care number followed by initiating the redeem point redemption process
  • The customer care executive will help you go through the entire process, you just need to follow the steps and you will be able to withdraw your reward points easily

How to Earn Maximum Reward Points from your Credit Card?

Reward Points are gift points you get for spending on your credit card at various outlets. Using the reward points you can purchase items and get a discount on your purchases.

So, earning maximum rewards is important for you to get the maximum benefit from your credit card. The following are the methods that you can use to earn the maximum reward point using your credit card-

Using Welcome Reward Points

Whenever you subscribe to a new credit card you’ll receive a welcome reward point which you should immediately use as this comes with an expiry limit.

Using Festival Offers

Festival Offers comes with amazing discounts and you’ll be able to use your reward points and utilize your card at maximum capacity

Try to reach the spending milestone

There is a spending milestone that once reached, you’ll be able to get bonus reward points which will help you in maximizing in earning the reward point

Choose a card Consistently

If you have more than two or more credit cards, then maximize the spending on the selected card to improve your reward point earning.

Do not Convert your purchase into EMIs

Sometimes converting your purchases into EMIs will lead to the cancellation of the reward points earned hence, whenever possible try not to convert the purchase into an EMI.

FAQ

Can I transfer my reward points to someone else or some other card?

No, Reward Points are not transferable items and require a minimum of 500 reward points to initiate the withdrawal process.

Can I exchange the items I bought using the reward point?

No, you cannot exchange the items you bought using the reward points unless the items are damaged.

How many days it will take for the items to get delivered?

For the items to get delivered to your home, you’ll have to wait at least 10-15 working days.

What is the minimum validity of the reward points?

The minimum validity of the reward point varies from bank to bank but, usually, the validity of the reward point is 2 years.

Was this post helpful?