With the increase in sales and the competition between retailers, there is an increasing demand for market research which gives consumers a reason to choose one brand over another. There are too many brands with their own products, and retailers are looking to provide what can set them apart from the rest of the crowd. This leads us to introduce you to one of the favorite credit card reward programs in the market: HDFC MyRewards Reward Program.
Every time you spend, you earn reward points with the HDFC Credit Card. The cardholder can Redeem high-value rewards such as e-gift cards, travel experiences, gadgets, and much more at a range of partners when they have accumulated enough points with their rewards credit card.
Once a customer earns 500 points, they can redeem their points for rewards. If you are a frequent shopper who loves to earn extra bucks at no cost, then the HDFC Bank credit card is the best and the most rewarding credit card for you. Let us start checking out some of the exciting features of the HDFC Credit Card Reward Program.
What is a Reward Point?
Rewards points are one of the perks offered by credit card companies. If you make a purchase through your credit card, reward points will always be attached to every transaction. The way these points are used varies from company to company. You can collect reward points from your purchases to redeem them for merchandise, gift vouchers, and even air miles.
Banks offer their customers reward points as a sign of goodwill. Reward points are one of the most attractive features of any credit card. This is because they boost your purchasing power without actually requiring you to spend more money. Since they too have monetary value, you can use them in exchange for anything from groceries to vacations
What is a Reward Program?
Rewards Programs are a popular loyalty strategy because they have been shown to have a strong impact on customer engagement. A rewards program is typically based on rewards points, which can be redeemed for discounts, gift vouchers, or frequent flyer miles. Rewards point programs vary from establishment to establishment, but the common idea is that the rewards program increases customer retention and boosts the volume of repeated business.
Where to Earn Reward Points?
There are many ways to earn reward points on your HDFC credit card. You can earn reward points on your HDFC credit card when you make payments towards the following categories:
Online Shopping
Movies
Groceries
Dining
Railways
Taxi spends
PayZapp
SmartBUY
How to Redeem HDFC Credit Cards Reward Points?
There are many other ways to redeem HDFC Credit Card Reward Points, such as through the Customer Care Helpline, Post, and Post + Pay. But here we are going to guide you with the most convenient and used way amongst people to redeem their HDFC Credit Card Reward Points – Through Net Banking.
How to Redeem HDFC Credit Card Reward Points through NetBanking?
To start, Login to your Net Banking account with your Credentials ( Username ID & Password)
Click on the “ Card” tab and register your card as a one-time activity.
To register a new credit card, click Register New Card in the Credit Cards tab of the left-hand navigation bar. You will need your four-digit Credit Card PIN to complete the registration process.
Now click on the link called Redeem Reward Points on the left side navigation bar.
Choose your card, click Continue, and then proceed to the online redemption portal.
Click on Redeem Reward Points on the homepage.
Filter your collected Points Range and preferred Item Category to view the catalogue
Choose your item and add it to the cart with the preferred quantity
After selecting all the items you want to redeem, click on the View Shopping Cart link to see those items.
To proceed further, please read the Terms & Conditions and click on the check box confirming that you have read them.
You are done now. A copy of your voucher will be received on your registered email ID and Mobile Number (as an SMS).
Things to Keep in Mind About Reward Points Redemption
Point Expiration: Did you know that most reward points have an expiration date? This is a fact that many people are unaware of. When you earn reward points from some financial institutions, it will have an expiration date which is usually between 1 and 3 years after it was earned. It goes without saying that you need to check these regularly and redeem them on time.
Minimum Required Reward Points: Many reward programs require a minimum number of points to be eligible for reward redemption. However, you will still be required to accumulate the required points before you can redeem your reward. While some reward programs have no minimum requirements, others can cost you a substantial amount of points for a single reward.
Charge to Redeem Points: As they say, everything comes at a price. There’s always a tussle between utility and cost. Whether it’s the rewards you get or the services you avail of, there is always a price tag attached. This rule applies to reward schemes as well. You’ll have to pay a small fee if you want to redeem your reward points. For example, one redemption usually costs 100 rupees.
FAQs
You can redeem your reward points on HDFC credit cards for a range of products on the HDFC website, including headphones and speakers, travel accessories, Tupperware and other lifestyle products, storage devices and e-vouchers, travel and luggage items, gift vouchers, and home appliances.
Simply use your credit card to make purchases. You can earn reward points for every Rs. 100 you spend on the card. Pay your bills, shop in stores and online, travel, and even shop internationally, and earn points.
You can convert the reward points you earn with your credit card into cash by visiting the bank’s website and going to ‘Redeem Reward Points.’ This process can change from one bank to another.
Each bank has its own minimum redemption limit. Some banks do not have a minimum limit on the points you collect. But to redeem them, you should have collected enough points to be worth something available in the catalogue. Usually, 500 points will fetch you a basic product or make you eligible to redeem it for cash back.