A credit card from the India’s largest bank is one popular thing in the financial world. If you are one of those customers’ holding a credit card from State Bank of India, you have much more than just using your credit card for shopping. With SBI card reward points (see State Bank ATM cum debit card rewards), spending money is just as fun as buying a gift for the loved one. Simply use your SBI card for shopping and earn points, redeem them later and get cool items.
Depending on the type of SBI card you have, your reward points (power points) will be different. For example, if you use a SBI Platinum card, 1 reward point will be credited to your account for every Rs.50 spent while you need to spend Rs.75 and Rs.100 to get 1 reward point if you have Gold or any other SBI card respectively.
Redeeming reward points
A minimum of 1000 points are required to initiate redemption. Depending on the number of points you have, you can choose your product from various categories like Accessories, Apparel, Electronics, Entertainment and Dining, Health and Fitness, Home ware, Kids, Lifestyle, Travel etc.
For the complete list of products on offer and their respective points (needed), please download the PDF file at bit.ly/bFveMP. If the product you like requires points in excess of what you possess, you may also chose to pay the remaining amount through your credit card (part points, part money).
Apart from these there are many new products that are added to the list which will be available in the Card Statement’s that you may receive from time to time.
Once you have decided the product you want, you can dial 18001801290 (toll free), 18601801290 (not a toll free number) from a BSNL/MTNL landline or Airtel mobile or dial 39020202 (not a toll free) from any other mobile or landline and put your request of redemption.
A fee of Rs.99 will be charged against your credit card for delivery and processing your redemption request.
Important note: Reward points can only be earned and redeemed with in 2 years (from the date when you earned first reward point). Any un-redeemed points after 2 years will be lost.
In case you have surrendered (discontinued) your credit card, you will have 45 days to redeem your points (subject to them meeting the minimum required points level).
Also see HDFC credit card reward points