1 min read
25 May 2021

If you are a frequent shopper and use your credit card to pay for most purchases, you may have accumulated many credit card reward points.

Making a credit card payment entitles you to reward points. A credit card provides great reward points on dining or shopping at any partnered outlet. You can check the record of your accumulated reward points in your credit card statement. Making the best use of these points can be puzzling because of the many options offered. However, below are five things you can do with your reward points:

Avail cash-back or cash option

The simplest way is to opt for a cash-back or cash. With cash-back, a percentage of your purchase amount comes back to your account. It's like a discount. The only difference is that you pay the entire amount first, and the discounted amount is returned to you later. You can also redeem all or some of your earned reward points for cash. With both these options, you can use the cash as you like. You can even use it to pay your credit card bills.

Additional read: How to use a credit card wisely?

Get a gift card or voucher

You can use the points to get a gift card or voucher to pamper your loved ones or yourself. Some banks also provide gift cards for online shopping but opt for this only if you intend to use it before the expiry date. Also, check if any of the vouchers are available at a discount.

Convert your points into travel miles

If you travel frequently, consider converting your points to travel miles. Travel companies and airlines offer special benefits to a credit cardholders who use travel miles. It could range from a small discount of 10% on hotel or airline fares right up to a free mini-vacation. It would all depend on the travel partner and the points earned.

Donate to charity

Some banks even allow you to redeem your points by donating them to charity. You can select a charity of your choice or choose among the ones pre-decided by the bank. The reward points are converted into cash which is donated. It is a good way to give something back to society.

Additional read: How to pay off credit card debts?

Buy Fuel

You can even consider redeeming the points at fuel stations with which your bank has a tie-up. The fuel cost is soaring and using your reward points to refuel your car can be a big relief.

A common yet inefficient way people redeem points is by purchasing products from the catalogue. Check if the same products are available online at a good discount before using your points to buy these products.

The Bajaj Finserv RBL Bank Credit Card ensures that you get a variety of benefits in addition to those mentioned above. You can also spend your reward points on complimentary airport lounge access and more.

You can also check out the offers provided by Bajaj Finserv on credit cards and avail a range of benefits. The process is very simple and saves your time. Enter your basic details and check your credit card offers today.

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