Who am I?
I am that promise of a freebie that slips in every time you shop using a credit card. I usually get accumulated in the form of points having monetary value. How much I am worth would depend on my value per rupee spent. So, if the card vendor values me at Re1 every Rs100 spent, you’ll have to spend Rs1 lakh to buy a product worth Rs1,000.
What can I do?
You can trade me for a camera, music system or any other product listed on the catalogue issued by the card vendor. Remember, as in any game, there are rules here: you need a minimum number of points before you can begin redeeming. Some vendors allow you to trade me for a gift voucher in a specific mall or shop. But check my validity across cities, date of expiry and other issues that you may find in the fine print.
How do you use me?
To use me, you will have to fill a redemption coupon available on the card vendor’s website. You can either call the helpline and place an order or can do it yourself online.
When does it really work?
When you make large transactions on your card, you can get to shop for free several times in a year.