Making the most of your credit card reward points

If you are a credit cardholder, you would have noticed on the credit card bill the reward points that get added in your bill every month when you spend on your credit card. If you have not redeemed these reward points yet, you would do well to redeem them to get maximum benefit from your spends on the credit card. So, how do you go about redeeming the reward points?

You can redeem the reward points in various ways. You can buy online the products specified in the rewards programme or you can buy movie tickets, airline tickets or book hotel room online to redeem the points. You can also go to the large format retail stores specified in the rewards programme to avail in-store redemption of reward points. Alternatively, you can call up the bank’s customer care centre to redeem the points or download the redemption form, fill it up and send it to the credit card department of the bank to redeem the reward points.

The banks offer various types of credit cards to their customers. These types include Gold, Platinum, Titanium, Signature, etc. The number of reward points offered depends on the type of card; so the higher the card, the higher the reward points and privileges offered by the bank. Some of the benefits offered by the banks on a high-end credit card include higher reward points, cash-back offers, lower interest rates on EMI-based purchases, extended grace period on repayment of dues, and so on.