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Credit Card issuers in India

Credit Card Reward Points

Credit card holders benefit from credit card usage by earning points for each transaction that they make. These are called credit card reward points, and you can redeem these later for gifts and vouchers. However, reward points are just perks from the bank and cannot be used to earn the money back. But, if you have accrued reward points, you can use them to get free air miles, vouchers, and merchandise. Let us now read about how to earn and redeem credit card reward points, the top ten credit cards and their reward points, and more.

Reward Points on Top Ten Credit Cards

Credit Card

Reward Points

IDFC First Millennia Credit Card

  • 1X = 1 reward point per Rs. 150 spent | 1 reward point = Rs. 0.25
  • 10X reward points on incremental spends more than Rs. 20,000 monthly and spends done on your birthday.
  • 6X & 3X reward points on online and offline purchases respectively for spends up to Rs. 20,000 monthly

SBI SimplyCLICK Credit Card

1 reward point per Rs. 100

5x points on online spends

10x points on online spends with exclusive partners.

Axis Bank Neo Credit Card

Earn 2 reward points per Rs.200 spent under the eDGE Loyalty Program.

IndianOil Platinum Card

  • 1 turbo point per Rs. 150 spent, 2 turbo points per Rs. 150 spent at supermarkets, and 4 Turbo points every time you spend Rs. 150 on fuel.
  • For redeeming against fuel, 1 Turbo point = Re.1, across other categories 1 Turbo point ranges between Re. 0.25 to Re. 0.35, and for AirMiles, 1 turbo point = 0.75 Airmile/Intermile.

Smart Card

  • Online spends: 2% cashback
  • Offline spends: 1% cashback

Yes Prosperity Rewards Plus Credit Card

  • 4 reward points per Rs.200 on all categories other than ‘Select categories’
  • 2 reward points per Rs.200 on Select categories
  • 500 reward points on each and every YES PayNow registration

HDFC Moneyback+ Credit Card

  • 2 cashpoints per Rs. 150
  • 5X cashpoints on EMI spends at merchant locations
  • 10X cashpoints on BigBasket, Amazon, Flipkart, Reliance Smart SuperStore, & Swiggy

HDFC Regalia Credit Card

  • Earn 4 reward points per Rs. 150 on all spends including utilities, education, insurance, and rent payment.
  • Earn 10,000 reward points on annual spends of Rs.5 lakhs.
  • Earn additional 5,000 reward points on yearly spends of Rs.8 lakh.

RBL Bank Icon Credit Card

  • 2 reward points per Rs.100 that you spend.
  • 20 reward points per Rs.100 that you spend on international and weekend dining.

HDFC Diners Club Privilege

  • 4 reward points per Rs. 150
  • 2x rewards on weekend dining
  • 10x rewards on spends made via SmartBuy

How To Earn Credit Card Reward Points?

  • Every time you use your card for making purchases, you can earn rewards.
  • The rate of earning credit card reward points is different for each card. When you use card A to make a particular purchase, you may earn 1 reward point. While the same purchase using Card B will give you 5 reward points.
  • Rewards credit cards offer accelerated rewards on specific categories. For instance, if you take Karur Vysya Bank SBI Platinum Credit Card, it comes with a base reward rate of 2 reward points per Rs. 100 spent on your credit card. However, you will get accelerated reward points of 10 on your grocery, departmental, and dining spends.
  • Some credit cards may give you bonus reward points on reaching milestone spends in a year. For instance, with the HDFC Regalia Credit Card, you can earn an additional 5,000 reward points on annual spends of Rs. 8 lakhs.
  • Reward points will vary across basic and high-priority credit cards

Given below are common schemes offered by credit card issuers to earn reward points

Reward Points on Top Ten Credit Cards

Reward Points


Joining Rewards

Some credit card issuers credit the customer’s rewards accounts with welcome points. You can earn reward points by spending within a specified number of days

Regular Rewards

You will earn certain rewards for every purchase that you make. This is the base rate for rewards, and this will be mentioned in your credit card statement

Accelerated Rewards

You can earn additional points when you spend on specific categories such as shopping, grocery, dining, travel, etc. For instance, if you have a dining-oriented card, then you will be able to earn bonus points when you eat at partner restaurants, etc.

Milestone Benefits

Bonus rewards may be offered on achieving a certain spending threshold within a specified time duration (usually an anniversary year)

International Rewards

You can earn reward points by spending on the card while abroad.

Bonus points

You can earn bonus points for spending a certain amount. For example, you can earn up to 5 reward points per Rs. 100 spent. However, if you spend more than Rs. 1.2 lakhs using your credit card in a month, your reward points will double for every Rs. 100 spent.

Renewal points

Credit card customers will be able to earn reward points on renewing their credit card with the same issuer. These are called loyalty points.

High-value Purchases

Spending high with your credit card like buying jewellery, expensive gadgets, etc. or taking expensive vacations will fetch more rewards

Add on Cards

You can take supplementary cards for those family members who have attained 18 years of age. Reward points earned on spends made on this card are credited to the main credit card’s rewards account.

Things to Keep in Mind Before Redeeming Your Reward Points

Minimum Threshold For Redeeming:

To redeem your credit card reward points, first ensure that you have enough points. Check with your credit card issuer for the minimum requirement before redeeming. This will help you make the most out of your reward points.

Expiration Date:

Reward points usually expire within 2 to 3 years, so it's important to keep track of them and redeem them before they expire.

Redemption Fee:

The bank that gave the reward points to you might charge a small fee of usually around Rs. 100. After you pay the fee, you can change your reward points into gift vouchers, air miles, or other rewards that you desire.

How to Redeem Your Credit Card Reward Points?


Internet Banking: You can use internet banking to redeem reward points. They can log in to the website using the customer ID and password. You will find various choices for reward redemption such as vouchers, merchandise, or cash credit (if applicable). Choose from them, and it will take approximately 10 business days for your order to be processed and delivered.

Rewards Website:  To redeem your points through the rewards website, you will have to sign up for the program by visiting the registration page. Then, choose the appropriate product from the dropdown and fill in the relevant details to register. Post successful registration, you will receive an email confirming your user ID and password. You can visit the ‘Redeem Now’ section post login with your user ID/ customer ID & password. Pick the reward of your choice from various categories. Add to the basket, and confirm the redemption.

Mobile app: Download the bank mobile app. Click on the ‘Rewards’ tab from the Menu to view your points balance. Go to the ‘Redeem Now’ section and click on 'Rewards Store'. Opt for the rewards of your choice from different categories, add to basket, and confirm the redemption.


Customer Care: You can redeem reward points by contacting the credit card customer care of your lending institution through phone or email. A customer care executive will explain the process of redemption and also update you about the rewards point balance. You can put down your request for redemption with the representative. Provide the required details and the information about the rewards you have chosen. You may be required to download the redemption form also.

Post: Write to the credit card issuer’s customer care and redeem your rewardpoints. Include details about your credit card, the desired reward option, and the number of points you want to redeem in the post.

Partner-store: Some credit card companies have partnered with retailers and petrol pumps where you can redeem your reward points. You can find out which retailers are included and how to redeem your rewards points by visiting your credit card’s website.

What Can You Redeem the Reward Points For?

Merchandise: Browse your bank’s catalogue to see what products or gifts they offer in exchange for reward points. They could be clothes, accessories, books, beauty products, travel merchandise, and stationery. High-tech products like electronic gadgets are also available. Listed below are some popular merchandise items.



  • iPhone X 64 GB
  • iPhone X 256 GB


Instant Vouchers across categories

  • Travel
  • Apparels & Accessories
  • Personal Care & Grooming
  • Dining
  • Jewellery
  • Entertainment
  • Accessories
  • Health & Beauty
  • Online Shopping
  • Electronics



  • Health & Fitness
  • Desktop Accessories
  • Charger
  • Speakers
  • Computer Accessories
  • Head Phones and Ear Phones
  • Power Bank



  • Kitchenware
  • Kitchen & Home Appliances
  • Home Furnishing
  • Lunch Box & Water Bottle
  • Fragrances



  • Travel Accessories
  • Air Miles
  • Luggage
  • Umbrella & Rainwear



  • Health & Fitness
  • Exercise & Fitness
  • Football
  • Gift Vouchers: Your reward points can be redeemed for e-vouchers of popular brands, merchants, or restaurants? This is a great way to get some extra perks for your loyalty!

    Air Miles: Some credit cards give you air miles instead of reward points. Whereas, some cards allow you to convert the accrued points to air miles. Air miles can be redeemed for air ticket purchases or to get a discount on air tickets.

    Cashback: You can convert your reward points to cashback. Cashback can be used to pay the outstanding balance on your credit card or can be used to shop with your credit card.

    Donations: Reward points could be redeemed to donate to charity houses listed with banks. You can choose the charities you want to donate to and reward points will be converted to equivalent cash to be given to the charity.

    Transfer Points: Some banks allow customers to transfer a certain amount of reward points earned to their family members or friends, provided they also hold credit cards from the same bank. For instance: Axis bank allows this.

    How Can You Earn Maximum Credit Card Reward Points?

    Keep track of reward points expiry -

    Keep in mind that many credit cards have a two-year expiration date on reward points, so it's important to plan accordingly to avoid losing them. However, some cards do offer reward points that never expire, so it's worth checking with your card issuer to see if that's an option for you.

    Use a card that suits your lifestyle and financial needs -

    Cardholders must ensure that the reward system suits their financial needs and their lifestyle. For instance, if you are someone who loves to eat out at restaurants, then you should opt for a card that provides maximum benefits on dining.

    Redeem for maximum advantage -

    Conversion rates on cards vary, so it's important to choose the card that offers maximum conversion rates. Also, the reward redemption rate will change with category and specific products. So, it is necessary to be aware of the rate before redeeming.

    Do not spend only for earning rewards -

    Remember, rewards on your credit card are a bonus, and not a reason to overspend. Overspending will lead to difficulty in paying your credit card bills and thus high finance charges. So, spend wisely.

    FAQs Of Credit Card Reward Points

    1. Do credit card rewards, points, and miles expire?

    Credit card points and miles won’t expire as long as your account stays open. However, points and miles earned with airline and hotel loyalty programs do usually expire due to a lack of activity.

    2. Can I transfer the reward points from one credit card to another?

    No, reward points cannot be transferred from one credit card to another.

    3. Can credit card reward points be converted to cashback points?

    Yes, you can convert the reward points to cashback. However, some lenders have different terms and conditions for reward points redemption expire due to a lack of activity.

    4. Are there any charges applicable on redemption of credit card reward points?

    It depends on your credit card issuer. Some lenders do charge a certain amount of fee with applicable tax for redeeming your credit card reward points.

    5. Can cardholders club the reward points from multiple credit cards and make a single request for redemption?

    No, every card is processed individually. Balance transfer of reward points is not allowed across various credit cards.

    6. I bought something through a partner brand store and I want to return it. What happens to my credit card reward points?

    Merchandise purchased at partner brand outlets are governed by policies of individual stores and the partners. In case the return of products is allowed, an equivalent amount of points would be rolled back to your account.

    7. What are the various options to utilize your credit card reward points?

    The banks offer many options to you for redeeming your reward points as per your requirement. You can redeem the points through the rewards catalogue, air miles, cashback, or get vouchers.

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