Top 3 Facts Credit card reward points (get most benefit from usage)
1-2 reward points for ever 100 spend.1-2%.
For 100 points you get 25 INR value
You have to spend 20,000 rupees to get 100 INR worth of reward points (400 points for every 100 you get 2 points)
400/4=100 INR. Redemption fee = 99+ GST =118 INR.
however we only redeem when big number of points like 2k.
But redeemed 14K reward points for 500 Amazon voucher 5 times in 2 days.
Redemption fee may applies for 1st transaction every day.
No rewards on fuel purchase
No rewards on loading wallets
No rewards on emi purchase through credit card
No rewards or limited ceiling on bill payments ex: insurance premium
Reward points validity 1-2 years.
some rules apply some may not for all bank credit cards.
neglected for years. Redeemed a American touriser bag 1st year.
deactivated 2 credit cards(sbi,Hdfc) without redeeming reward points.
Thought to deactivate rbl world prime credit card for 3k annual maintenance fees.
Just opened sbi card there are 10k points
Redeemed 2000 points for 500 Inr Amazon e voucher
2000 Amazon pay balance for 10000 points from sbi.
Opened rbl app there are 15,900 points
Redeemed for Amazon voucher worth of 2000 for 8900 points and reward redemption fee of 99+GST.
so spending through credit card some benefits here.
Ex: 2 reward points for spending 100 INR LIKE that.
sbi simply click features
1 reward point for every 100 spend.
10x for Amazon,bookmyshow,cleartrip,foodpanda,urbanclap,netmeds etc
Annual fee 500 reversal on spending of 1 lakh.
1% fuel surcharge between 500-3000 INR
Clear trip e voucher 1k,for spending 1 lakh,
2k for spending 2 lakhs.
Rbl world prime features
2 reward points for every 100 spends
4 reward points on online usage
1% or 10 fuel surcharge on fuel transaction value at petrol bunk whichever is higher
fuel surcharge waiver upto 150INR per month
90 days interest free loan on cash limit once in a year.
Airport lounge access 4 times in a year.
12000 points as welcome gift
10k points on 1.5 lakh spent on year. Get additional 10k points 3.5L spent on annum.
Overdue fee:15% of due.
3.5% foreign currency conversion charges
Late fee:350- 1000 INR
every month but 1 get 1 bookmyshow
Upto 200. 2400 INR .
LOUNGE offer at airport not required for me.
Amazon pay direct Icici credit card
No redemption fee
Reward points count as 1 rupee.
5% cashbacks for amazon.in spends for prime customers
3% for non prime.
3% cashback on billpayments using Amazon
Fuel surcharge waiver, no reward points on fuel purchase,
1% cashback all other purchase within 2days.
No annual and joining fee.
I spent (10000 rewards points for 2000 Amazon voucher). For spending 100 rupees I get 1 reward point (sbi simply click) , for online I get 10x rewards too but here at it’s not 1 rupee it’s 25 paise.
So if I use Amazon paydirect card.
Credit card companies charge 2%-3% transaction fees. On typical retail transactions [buying clothes, groceries, electronic goods, etc] the margin is in excess of 10-30%. Hence the Merchants tend to absorb the cost of card from profit margin.
In petrol transactions, the dealer make a fixed amount per liter of petrol/diesel sold. They cannot absorb the loss of 3%. Hence they charge additional Fuel surcharge to make up for that loss.
Some companies will lift the surcharge fee with a minimum transaction amount. For example, many fuel stations won’t apply the surcharge if you buy at least 400 Rupees of fuel. There are also Card Tie-up where by Card Issuing Companies absorb this cost and hence no additional surcharge.