Savings and Earnings

How to redeem reward points earned through credit card?


If you own a credit card and make transactions through it, you need to make a payment on a monthly basis.

Every time you use your credit card limit or make a payment against your credit card, you earn reward points.

In other words, when you shop online or use your credit card to make a purchase in a store or for any other reason,

Also, you earn reward points for making credit card payments online.

For every INR100 transaction, you earn a reward point.

On average, for every 4 reward points, you earn a rupee, which means if you have 2000 reward points on your credit card, you can earn 500 INR.

Reward points structure

Actually, the reward points structure is different for different banks.

Bank’s NameNo. of Reward PointValue in Rupees
SBI Credit Card(Reward Points)1 Reward PointINR 0.25
HDFC Bank Credit Card(Reward Points)1 Reward PointINR 0.30
HDFC Bank Credit Card(All Miles)1 All MilesINR 0.50
ICICI Bank Credit Card(PAYBACK Points)1 PAYBACK Point
INR 0.25
RBL Bank Credit Card(Reward Points)1 Reward PointINR 0.25
YES BANK Credit Card(Reward Point)1 Reward PointINR 0.25
Citi Bank Credit Card(Reward Point)1 Reward PointINR 0.35
Citi Cashback and Prestige Card(Reward Point)1 Reward PointINR 1.00

How do I redeem?

Many of us, knowingly or unknowingly, do not utilise the benefits of reward points.

We simply use the limit and make a payment on a monthly basis without looking out for the benefits.

While we are making transactions for free, others are taking advantage of the benefits of using credit cards and making payments online.

If you got your credit card two or three years ago, you should have around 5000 to 10,000 reward points on it.

which equates to INR 1000 to INR 5000

Let’s not waste the amount that you have earned so far and let’s redeem it against your favorite store or merchant.

We will clearly explain how to redeem reward points.

Steps to redeem?

There is a platform called “Payback Voucher” and you can redeem it against booking my show or any travel card.

You will find all the stores and gift cards on the website or app store.

You need to log in to the website or application using your payback card number or linked mobile number.

How can I find the payback card number?

You can log in to your banking account or credit card application to find the Payback card number.

If you are having difficulty finding the payback number, you can simply chat with the banking application.

You can also directly call the bank’s support team to get the number.

Most of the time, you will be able to log in with your phone number, and if that doesn’t work, go for the first option.

It works both ways.

I just logged into my credit card application and you can see the reward points earned through payments and usage of the credit card.

You can also see the earned points on a monthly basis.

Basically, if you are able to see the reward points earned through your credit card, you might have an option to redeem those points against Amazon or any other gift cards through your credit card app only.

If you do not find an option, you can switch to the second option.

Here below, you can see that I am logged into the payback application using my payback number and pin associated with it.

You can directly choose any gift card shown above and redeem it.

The redeem points option will be accessible via the home button.

You can purchase the desired products shown up on the payback application.

If you shop or do a recharge on the payback app, you will get the extra rewards.

Earning rewards points and redeeming them is made easier with this article, and you can have fun earning more rewards through your credit card.

You can also explore the app to find many offers.

Can I transfer the amount to my bank account?

Transferring the amount to your bank account is not possible.

How can I redeem my earned reward points against credit card?

There is an option where you can redeem your reward points against gift cards or shop for online products.

For example, you have 2000 reward points and you want to redeem them for


So far, the best way to redeem your earned points against credit cards is:

If you are a new credit card user, you can still have an idea of how you are going to save and receive additional benefits.

It helps you understand how we can manage credit cards and debit cards.

You will start paying using credit cards instead of debit cards.

It will be enjoyable to use credit cards and benefit from the offers.

You can help someone who is using a credit card but doesn’t know how to get the benefits online.

Share this blog with your friends and family to raise awareness about the importance of saving money.

Basically, having a credit card can help with increasing your credit score and improve your chances of getting personal loans or home loans in the future.