Credit cards act as a convenient substitute for cash. What is more they also earn you reward points when you swipe them to make some purchase. Generally, you get one point per every Rs 100-250 spent.Don’t forget to tap the monetary value of the points collected on your card. But you must remember that points get accumulated against spends, not for cash withdrawals.
The State Bank of India (SBI) provides you with one point per Rs 40 spent on its Gold Card and eight points per Rs 100 on its co-branded Tata Card.However, the condition with reward points on co-branded cards is that they can be redeemed only against products and services offered by the partnered establishment. SBI has a tie-up with certain merchants where you can redeem points instantly. So, you don’t have to contact the bank and get vouchers, rather you just can pay using your accumulated points.
SBI Card is a joint venture between State Bank of India, the country’s oldest and largest public sector bank and international firm GE Capital. The bank offers various credit cards as per your needs. It has a Shop and Smile Rewards programme. It has been put together keeping in mind the tastes and lifestyle of cardholders. You can redeem the reward points you have accumulated on your SBI credit card, against a wide variety of products ranging from gift vouchers to electrical appliances, accessories to lifestyle products.
Every time you use the card, you get power points which can be redeemed for exciting rewards. He how you earn rewards on different SBI credit cards :
SBI Platinum Card: In this card, you can earn 2 cash points for every Rs 100 spent. Plus, you can get cash points on dining, departmental store and international spends. For every Rs 100 spent by you on dining, departmental store & international purchases, you earn10 cash points which you can encash to pay your SBI Platinum Card outstanding balance or redeem them against an array of products.
SBI Gold Credit Card: This card too offers you reward points. You can earn 1 cash point for every Rs 100 spent These points can be used to pay the outstanding balance on your credit card or redeem against a wide choice of gifts from the rewards catalogue.
SBI Gold & More: In these cards, you earn 1 cash point for every Rs 100 spent. You can also earn 10 cash points for every Rs 100 spent on departmental store & grocery spends.
In case you face difficulty in redeeming power points, you can dial the SBI Card helpline.Web-enabled credit cardholders can redeem reward points online.
SBI offersa catalogue or laundry list of what you can do with the points. The catalogue includes apparel, gadgets, jewellery, luggage items, and the like. You can also encash your points against gift vouchers.
If you have accumulated points worth, say, Rs 500 and buy goods worth Rs 1,000, you have the choice of using your points earned on SBI Card for making payment.
Interested? For more details, you can apply for SBI credit cards by visiting SBI Branch or online through http://www.bankbazaar.com/sbi-credit-card.html.