What Can You Do With Your Credit Card Reward Point?

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.

Then with your point accumulated, you can use it to exchange for products offered by your card issuer. (Is just like the old-time when you visit a circus park, you play games, earn tickets and then use it to exchange for the prize available)

So, what can you do with your credit card point?

You can use your reward points in one of the following ways, depending on what your bank offers:

Miles

The all-time most popular reward is definitely the air miles, because who doesn’t love a good holiday. Except earning miles through an air miles credit card, you can also use your reward points to exchange for it. Many banks have partnered with airlines and travel agencies to make your travel experience more amazing without taking a big chunk out of your wallet.

Catalogue

Each bank has its own catalogue of items that are available for redemption ranging from smart devices, home appliances, office appliances, accessories to stationery, and many more. If you are looking to get a new washing machine for your home and you saved up tons of reward points, this may be a good place for you to browse.

Gift Card

Exchanging your points for gift cards can be valuable. You can use it for yourself or gift it as a present to your colleague or friends during a small gift exchange or whatever occasion deem fit. And you can use a smaller number of points to redeem for a gift card compared to larger reward items.

Cash Back

Traditionally, to earn a cashback, you need to apply for a credit card that provides cashback. However, there are few banks that now allow you to exchange your credit card points into cash that will be deposited into your credit. You can use it to add to your saving or pay off your credit card bill.

Apart from the options listed above, some banks provide additional options such as annual fee redemption which you can use to void your card annual fee or even donation. However, it is advisable to always check with your card issuer on what reward does their program has to offer as it will get updated year to year.

Here we provided you with the link to all the reward programs offered by our local card issuer:

– Bank Islam
– Maybank
– CIMB Bank
– Hong Leong Bank
– Public Bank
– RHB Bank
– UOB Bank
– Standard Chartered Bank
– HSBC Bank
– Bank Rakyat
– AmBank
– Alliance Bank
– Affin Bank
– Citi Bank

Conclusion

Be sure to always use your reward point smartly to your advantage whether is it to travel to get that appliance for your home.

Your points are usually displayed on your bank portal or you can view them on the last page of your bank statement.

Read: Understanding Your Credit Card Statement and How to Use it with jomSETTLE™

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What Can You Do With Your Credit Card Reward Point?

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.

Then with your point accumulated, you can use it to exchange for products offered by your card issuer. (Is just like the old-time when you visit a circus park, you play games, earn tickets and then use it to exchange for the prize available)

So, what can you do with your credit card point?

You can use your reward points in one of the following ways, depending on what your bank offers:

Miles

The all-time most popular reward is definitely the air miles, because who doesn’t love a good holiday. Except earning miles through an air miles credit card, you can also use your reward points to exchange for it. Many banks have partnered with airlines and travel agencies to make your travel experience more amazing without taking a big chunk out of your wallet.

Catalogue

Each bank has its own catalogue of items that are available for redemption ranging from smart devices, home appliances, office appliances, accessories to stationery, and many more. If you are looking to get a new washing machine for your home and you saved up tons of reward points, this may be a good place for you to browse.

Gift Card

Exchanging your points for gift cards can be valuable. You can use it for yourself or gift it as a present to your colleague or friends during a small gift exchange or whatever occasion deem fit. And you can use a smaller number of points to redeem for a gift card compared to larger reward items.

Cash Back

Traditionally, to earn a cashback, you need to apply for a credit card that provides cashback. However, there are few banks that now allow you to exchange your credit card points into cash that will be deposited into your credit. You can use it to add to your saving or pay off your credit card bill.

Apart from the options listed above, some banks provide additional options such as annual fee redemption which you can use to void your card annual fee or even donation. However, it is advisable to always check with your card issuer on what reward does their program has to offer as it will get updated year to year.

– Bank Islam
– Maybank
– CIMB Bank
– Hong Leong Bank
– Public Bank
– RHB Bank
– UOB Bank
– Standard Chartered Bank
– HSBC Bank
– Bank Rakyat
– AmBank
– Alliance Bank
– Affin Bank
– Citi Bank

Conclusion

Be sure to always use your reward point smartly to your advantage whether is it to travel to get that appliance for your home.

Your points are usually displayed on your bank portal or you can view them on the last page of your bank statement.

Read: Understanding Your Credit Card Statement and How to Use it with jomSETTLE™

Let's Stay in Touch

Get updates on our latest article.

You May Also Like

jomSETTLE: Perjalanan Kami di dalam National Technology & Innovation Sandbox (NTIS)

March 23, 2023

2023: The Advantages of Accepting Credit Card Payment as a Business

February 3, 2023

2023: Why You Should Start Paying Your Business Expenses with Credit Card

January 16, 2023

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Unit A 806, Block A, Phileo Damansara 1, Jalan 16/11, Off Jalan Damansara, 46300 Petaling Jaya, Selangor

Request Payment

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Terms & Conditions | Privacy Policy © 2023 Mazer Fintech Sdn Bhd. All right reserved.