Credit card company reward points offered some of the finest deals, from air miles, home appliances to smart devices, or even gift cards. However, to redeem these amazing deals comes with constraints.

The concept of reward points, as introduced by banks, is simple and clear. You make a purchase or payment using your credit card, you earn points.

A reward program is offered by credit card issuers to their users to earn points to redeem for rewards, discounts, and other perks available (cash advance or balance transfer does not earn you reward points). There are three main types of credit card rewards programs: