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How to maximise on your Credit Card reward points

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Created on
May 9, 2023


What’s Inside

Contrary to popular belief, credit cards are not essentially bad for you. If used responsibly, it can transform the way you make payments and get you started on your financial goals.

Among all its major benefits, reward points let you make the most out of your payments.

Reward points are points that a user collects following each purchase they make with their credit card. You can avail a couple of benefits from redeeming these points, such as brand vouchers, making credit card payments, brand purchases, air miles, etc.

Here are some of the best credit card points redemptions ways to know.

1. Pay your Credit Card Bills

You must know that every reward point holds a certain monetary value that might vary from bank to bank. So, since you can acquire cash from redeeming credit card reward points, it is a great way to pay off some of your credit card bills.

2. Use them For Online Shopping

Most credit card issuer or bank has their shopping portals where you can redeem credit card points for shopping from their partner retailers. It provides various items, such as household things, electronic gadgets, etc., that you can consider buying.

3. Buy Vouchers

If you can't find anything worth buying in these stores, you can visit the e-shopping website of your bank to find e-vouchers of your favourite brands there. You can claim them through your credit card reward points and then visit that brand's online store. This will help you shop from your favourite brand and save some bucks.

4. Book Flights or Hotels

Another great way for credit card points redemption is to use them to book flights or hotel stays. This option might not be available on all credit cards, so you must check your bank's or issuer's website. That said, you might not even receive full coverage of room or tickets, but you will at least find a good discount.

Summing Up

If you’re looking for the best credit card for reward points, Fi Money is partnering up with Federal Bank to provide one. A card that will reward you every time you purchase. And we're talking about rewards that can be spent on India's most famous brands. Also, as your spending habits change, the rewards will evolve too.

Frequently Asked Questions

1. How do I track my credit card reward points, and what is the redemption process like?

One of the easiest ways to check your credit card reward points is with your monthly statement. It has details of your expenses and points. You can note down your monthly points and track their expiry to redeem these accordingly. For redemption, you can visit your bank's website and check what benefits you can avail of from your reward points.

2. How do I maximize the value of my credit card reward points, and what strategies can I use to earn more points?

To maximize your reward points, understand the credit card's structure, plan to meet the first-year welcome bonus, and don't forget to explore the card's redemption benefits and offers.

3. Can I transfer my credit card reward points to other programs or people, and are there any fees associated with doing so?

Most credit cards don’t give you a choice to transfer your points to another person directly, but you can convert them into specific programs such as airline miles or hotel points and share those. You might, however, have to pay transfer fees.

4. How do credit card reward points compare to other types of rewards programs, such as cashback or airline miles?

Reward credit card assigns you points that can be used for merchandise, household items, flights, and more. Cashbacks allow you to own a percentage of your spending back, while airline miles reward you with miles from the partnered bank airline only.


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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