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These can then be redeemed for instant vouchers, merchandise, air miles, and hotel loyalty points.
Different credit cards have their own reward points programmes, so you can choose the card that’s most suited to your lifestyle.
Explore: How does a credit card work?
Remember, while a rewards card can be seen as a smart way to receive help from your everyday spending, it’s important to always spend within your means.
What you’ll learn:
What can you redeem your points for?
How you can redeem your credit card reward points
Credit card reward points are guaranteed points that you receive for every purchase you make with your credit card. Usually, the more you spend, the more reward points you earn. For example, if you book a plane ticket or buy an expensive appliance, you’ll get more points than for smaller, everyday purchases.
Credit card providers usually offer different rates for earning points and may have minimum spend requirements or an upper limit on what you can earn.
Once you’ve accumulated enough credit card points, you can redeem them from a wide range of categories.
Find out more: Credit card rewards
You can use your credit card points to buy products from your bank’s catalogue of rewards. These can include fashion, footwear, accessories, home products, appliances, electronics, books, and toys.
Your points can also be exchanged for vouchers or coupons that you can use in supermarkets, stores, or online shopping.
If you’re not ready to buy something just yet or want to give a gift, you can redeem your points for an e-gift card or voucher from a particular retailer. Just remember these may have certain conditions and an expiry date.
If you’re a frequent traveller, you may want to redeem your credit card points for air miles. You can use these air miles towards your loyalty programme with select airlines, hotels, car hire companies or travel agents. This can get you a discount on the full price or you can use your miles for an upgrade.
Your rewards card may also offer other perks, like airport lounge access or travel insurance. Find out more about points conversion to airline membership programmes and travel rewards credit cards.
For instance, the HSBC TravelOne Credit Card offers instant reward redemptions with a selection of airline and hotel partners. It also gives you travel perks like complimentary airport lounge visits, holiday and car hire discounts, and the ability to earn accelerated reward points.
You can redeem your reward points only via the HSBC India Mobile Banking app:
You can log on to the HSBC India Mobile Banking app or check your monthly statement. These will show the number of credit card points you’ve accumulated and the points you have redeemed.
It’s relatively easy to earn reward points for eligible spending and to redeem these points for rewards you want. To get the most out of your reward credit card though, it helps to research and understand each credit card and rewards programme.
Explore: Types of credit cards
Think about your spending habits, goals, and what kinds of rewards you’d like to earn. This can help you narrow down what type of reward credit card will suit you best. For instance, if you travel a lot, it makes sense to get a credit card that offers more rewards and perks on travel bookings.
While spending more earns you more reward points, this also leads to higher credit card bills.
Not paying your credit card bill in full can lead to higher interest payments, or credit card debt. So be prudent about your credit card usage and weigh up whether the rewards justify the annual cost of a credit card.
Here are some other factors to bear in mind:
The credit card that brings you the best of the best with exciting rewards and exclusive privileges.
What are the options for redeeming credit card reward points?
You can redeem reward points against these categories:
You can also transfer your rewards points to over 20 airlines and hotel (transfer partners) loyalty points.
What is the value of 1 reward point?
Redemption value varies according to the different credit cards through which the points were earned, and the category on which points are getting redeemed. The value ranges from INR 0.25 to INR 1.00.
How can you earn reward points?
You can earn HSBC reward points when eligible HSBC credit cards are used for eligible spends.
How many points do you need to accumulate to redeem them?
There is no minimum number of points required to redeem or transfer points. You should have the points needed to redeem items you wish to claim.
Do reward points expire?
The validity of reward points is 3 years for Platinum and TravelOne credit cards. Reward points earned through the Premier credit card are evergreen and don’t expire.
Can you cancel a request to redeem the points?
Points cannot be cancelled once redeemed/transferred against any reward, item or partner.
How can you redeem credit card reward points through the website?
Redemption of reward points can only be done via the HSBC India Mobile Banking app.
Can you redeem cash against the reward points?
HSBC reward points are not exchangeable, replaceable, transferable or refundable for cash or credit.
When will you get the items redeemed against your rewards points?
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