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How to Earn & Redeem Credit Card Reward Points Online

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March 31, 2023


What’s Inside

India has a growing number of credit card users as more banks offer cards to fit all types of spenders. From urban professionals to small town residents, more people are using plastic for payment. The incentive people have to redeem credit card points is a big draw for many, leading card issuers to come up with new ways to reward holders.

Know About Credit Card Rewards

A reward credit card is a good option if you plan to use it for most of your spending needs. These cards offer more rewards points for every swipe and accumulate over time, which can be redeemed for future spending. Each credit card has a pre-defined reward point system set by the card issuer and type of card. For example, you can earn 10 points in rewards for every ₹100 spent.

How do you earn credit card reward points?

To redeem reward points, you first need to understand how to earn them. Choose a credit card that matches your spending habits. For example, if you travel a lot, choose a card that rewards travel expenses. If you shop online, a card that offers reward points for e-commerce purchases would be ideal. The more you spend with the card, the more reward points you will earn. Rewards come with expiry dates and bonus points for spending milestones. Some credit cards also offer sign-up rewards. Be aware of how your credit card works for you in terms of rewards and redemption deadlines. Knowing these details can help you maximise your reward points earnings and ensure you redeem credit card points before they expire.

How to Redeem Reward Points

The way to redeem your reward points after earning them is easily done online. As most of your credit card based operations can be done online, so can redeeming reward points. Credit cards are offered by banks or financial institutions and you can visit any portal of your card issuer to redeem your credit card points online. Here are the steps, in general, to follow when you wish to redeem your credit card points:

  1. First you have to log in to the portal of your bank or other credit card company.
  2. Use your USER ID and any other password to enter your account.
  3. You will see a field entitled “redeem rewards” or similar terms. You must enter this tab.
  4. Once you are at the location to redeem your rewards, you may get a list of options for redemption. This list may include the kind of rewards you can choose, such as merchandise, gift vouchers, cash credit, and whatever your card is applicable for in terms of redemption of rewards.
  5. To redeem credit card points, you must select an option and place the order for redemption of reward points.
  6. In case you select the “merchandise” option, then you will get options to select the merchandise you can redeem your points against. Once you do this, your item will be shipped to you. In case you select the option of cash credit, this will be credited to your account and you can use it against future purchases with the card. If you choose gift vouchers, these will be sent to you.


People use cards for rewards and customised rewards have made credit card use more efficient and popular. However, credit card use requires responsibility as bills must be settled to avoid penalties. If you want to monitor your finances online, including your payments, you can do so with the help of Fi. Fi is a one-stop place for any financial need, be it investing and growing wealth or keeping track of your capital.

Earning up to 5% valueback on Fi Money

Credit card rewards don't have to just be about points and spends. When you choose the Fi- Federal Co-Branded Credit Card, you get 5% valueback on your spends. That's not all, Fi rewards you based on your spending habits. Moreover there are rewards you unlock when you hit spending milestones with this super rewarding credit card.

Frequently Asked Questions

1. Is it worth getting a credit card for reward points?

Yes. However, you must ensure the card is tailor-made for your needs. It helps you spend according to your unique requirements while earning rewards which can be redeemed/converted to rewards (such as cash credit, merchandise, or other products/services).

2. What is the smartest way to use a credit card that has rewards?

Select a credit card that's tailored to your specific spending patterns. So, you spend more on it & inadvertently earn too via rewards. Also, your credit card points come with an expiry date, so remember to redeem points before this date.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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