Rewards That Come With Using Your Credit Cards

Credit Card Reward Points

Every time you swipe a credit card at a point of sale (PoS) terminal to make a transaction, you are likely to earn credit card reward points as payment.

As a consumer collects these card specific reward points, they become eligible for current or future freebies based on the criteria rolled out by each bank. Credit card providers often have robust reward programs to go along with their cards. These points are designed to incentivize the card owner to strategically spend, but spend more.

One may ultimately redeem these points to purchase a variety of goods and services. They are referred to as a point as they quantify one’s eligibility for several rewards such as discounts, cashbacks, gift vouchers and other exciting offers — all based on one’s purchase and spending history.

Swiping on the Innoviti terminal is an altogether rewarding experience as our collaborative commerce platform is credit card friendly. Apart from earning credit points, credit cards are offered attractive and cost-effective schemes like no-cost and low-cost EMI. Credit Card users have especially preferred our EMI-wallet due to the range of devices on which they are able to begin a BNPL payment plan.

What Are Reward Points?

Every time a credit card customer makes a purchase with their card, their bank will give them a reward point against a given amount spent. Hence, rather than being a blanket advantage, reward points are subject to how much and on what a card owner decides to spend credit on. After accumulating enough points, you can exchange them for a variety of products, including gift cards, products, and air miles.

How do Reward Points work?

You earn points against a given transaction. Rewards points are offered by all credit card companies; however, the value of each reward point varies from card to card.

Since reward points are often segment specific, they are seldom interchangeable. This means that points earned on airline tickets cannot be used or redeemed on groceries. Each card caters to particular segments. Hence, card owners ought to consider their requirements before opting for a credit card.

There are numerous methods for beginning to earn reward points and redeem them, ranging from loyalty programs to cashback points that allow flexible redemption possibilities.

How to Earn Reward Points on Your Credit Card?

Every bank offers reward points differently. Whether you have a basic card or a high-priority card, the number of points you get will vary depending on the type of credit you have. The following options to earn reward points are typically provided by credit card companies:

  • Greeting Bonus

    The majority of banks offer extra points when you sign up for their card.

    Depending on the type of card you sign up for, you can start earning reward points as soon as the card is activated, up to a few thousand. A particular amount of spending must be made within 60 to 90 days after the card’s issuance for some banks to grant extra reward points.

  • Regular Reward Points

    Every INR 100 you spend on a credit card earns you certain reward points from all the major Indian banks selling credit cards. Depending on the type of credit you have, the points you get can be anywhere between 1 and 10 or more.

    Along with State Bank, HDFC, and ICICI, Innoviti has partnered with numerous large banks. Use your SBI Rewardz credit card at any Innoviti POS to earn valuable points you can redeem later.

  • Overseas Reward Points

    For purchases made abroad, several credit cards offer extra points for each foreign transaction.

  • Loyalty Points

    Most banks offer loyalty points to thank regular customers. There are numerous ways to claim rewards. Innoviti’s terminals are amazing ways to rake up reward points as we offer flexible payment options on our PoS machines. This is not only convenient for the card owner, it helps establish a meaningful and long lasting relationship between merchant and customer.

How to Redeem Reward Points

The following options can be followed to redeem your credit card reward points:

Step 1: Log into your netbanking account using your Net Banking ID and Password. Toggle to the drop down menu where you can see ‘Credit Card’.

Step 2: Select the Credit Card tab and then click the Redeem Reward Points option.

Step 3: To access the online redemption gateway, choose your card type and then click Continue.

Step 4: Select Redeem Rewards Points.

Step 5: Choose the Points Range and item category to view the catalog.

Step 6:Choose products and add them to your shopping basket.

Step 7: Review your shopping cart once you have chosen all the things you wish to redeem. To change the items you’ve chosen, click Edit.

Step 8: After reading the terms and conditions, tick the box to indicate that you agree to them.

Step 9:To confirm redemption, click redeem. Make a note of the produced Redemption Order No.


Ans. No. Seldom do merchants or any rewards programme allow the conversion of rewards to cash. Instead, reward points can be used to get better and more economical prices for a particular product. Since reward points can sometimes confuse both customers and merchants, Innoviti offers straightforward and easy to avail EMI and no-cost EMI options in addition to the wallet-EMI.

Ans. Numerous credit cards offer reward points. It’s always advisable to opt for a card that best fits your spending needs. However, based on our market research, the top three cards in this category are Standard Chartered Platinum Rewards Credit Card, SBI Simply CLICK Credit Card and the Axis Bank Magnus Credit Card.

Ans. Debit cards don’t offer rewards, although some banks offer cash-back rewards on specific debit cards. The conditions can differ; some offer cash back on every transaction while others may restrict your ability to earn rewards to a limited number of retailers. Innoviti guarantees a cashback upto Rs.999 on swiping any debit card at our genie terminal.