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5 things to do with your credit card reward points

  • 2 min read

  • Highlights

  • Credit card reward points can get you cashbacks

  • You can even qualify for gift cards and vouchers

  • Some cards let you convert your points into travel miles

  • You can also use your credit card points to buy fuel

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

Making a credit card payment entitles you to reward points. A credit card provides extraordinary 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. That is 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 is like a discount. The only difference is that you pay the entire amount first. 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 Credit Card Wisely

Get a Gift Card or Voucher

You can use the points to get a gift voucher or card 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 card holder who uses 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.

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Donate to Charity

Some banks even allow you to redeem the 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. That would be 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 cost of fuel is soaring. So, using your reward points to refuel your car can be a big relief.

A common yet inefficient way people use to redeem points is to buy 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 SuperCard 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 pre-approved 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 pre-approved offer today.

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