Points Reward Cards
Points that actually convert
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Points earned
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Accelerated earning
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Redemption for vouchers
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Transfer to airline
Find your card
What Our Plans Cover
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Points earned at the stated rate o...
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Accelerated earning on selected ca...
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Redemption for vouchers
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Transfer to airline and hotel part...
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Milestone and welcome bonuses per...
Who Can Consider This Plan?
- Indian resident, generally aged 21 to 60
- Minimum income as specified by the issuer and card variant
- Credit score, which drives both approval and the limit offered
- Stable employment or demonstrable business income
- No recent defaults or settlements on the credit file
What May Not Be Covered?
- Points on fuel, rent, wallet loads and utilities on many cards
- Points beyond monthly or category caps
- Points that have expired, on programmes with expiry
- Any benefit if you revolve a balance
- Guaranteed redemption availability with transfer partners
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading credit cards companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
- Expert Guidance Personalised advice from experienced credit cards professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
A points card awards points on spending which are redeemed later for vouchers, merchandise, statement credit or transfers to partner programmes. The earn rate is advertised prominently; the redemption rate usually is not.
That gap is where most of the confusion lives. Ten points per hundred rupees sounds generous until you discover a point is worth a quarter of a rupee on merchandise redemption, at which point the card returns two and a half per cent — or considerably less if you redeem for the wrong thing.
Redemption value varies enormously by option within the same programme. Statement credit is usually the worst rate, merchandise catalogues are frequently poor value, and partner transfers can be excellent if you use them. The card is only as good as how you actually redeem.
Who should consider it
Spenders who will engage with the programme and redeem at good rates. Cardholders whose spending aligns with accelerated earning categories. Anyone who transfers to airline or hotel partners at favourable ratios.
Cardholders who will let points accumulate and redeem for whatever is convenient are usually better served by a cashback card.
Benefits
- Accelerated earning on selected categories on most cards
- Multiple redemption options including partner transfers
- Partner transfers can produce value well above cash equivalent
- Milestone bonuses on reaching spending thresholds
- Welcome bonuses that can exceed the first year fee
- Points can accumulate towards a large redemption
What is included, and what is not
Read the right-hand column first. It is the one that tends to surprise people later.
Included
- Points earned at the stated rate on eligible spending
- Accelerated earning on selected categories
- Redemption for vouchers, merchandise or statement credit
- Transfer to airline and hotel partner programmes
- Milestone and welcome bonuses per the card terms
Not included
- Points on fuel, rent, wallet loads and utilities on many cards
- Points beyond monthly or category caps
- Points that have expired, on programmes with expiry
- Any benefit if you revolve a balance
- Guaranteed redemption availability with transfer partners
Terms vary between providers and between plans from the same provider. The offer document you receive is what governs — we will walk you through it before you commit.
How it works with us
- 1 We start with how you actually spend Three months of statements tells us more than any preference. The right card follows the spending, not the advertising.
- 2 Reward value calculated in rupees, not points Points mean nothing until you know the redemption rate. We convert everything to a real percentage on your real spending.
- 3 Fee weighed against realistic earn An annual fee is certain; the rewards are not. We check whether your spending clears the fee before recommending anything.
- 4 Application matched to eligibility Each rejection marks your credit file. We apply where the profile fits rather than scattering applications.
- 5 Set up to be paid in full, automatically A full-balance auto-debit on the due date. Rewards are worth nothing beside revolving interest.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Work out the redemption rate before the earn rate. Multiply the two to get the actual percentage return, which is often a fraction of what the earn rate suggests.
- Redemption value varies enormously within one programme. Statement credit and merchandise catalogues are usually the poorest options.
- Check whether points expire. An unused balance that lapses returns nothing at all.
- Partner transfers can be excellent value and only if you will actually use them. Aspirational redemption plans that never happen are worth nothing.
- As with any card, revolving a balance destroys the value entirely at around thirty-six per cent annual interest.
Documents required
- PAN card
- Aadhaar or other identity proof
- Address proof
- Income proof — salary slips, Form 16 or filed returns
- Bank statements for the last three to six months
- Recent passport-size photograph
- Existing card statements, where applying against them
Frequently Asked Questions
How do I work out what points are actually worth?
Divide the value you can redeem for by the number of points required. Then multiply by the earn rate. Ten points per hundred rupees at a quarter of a rupee per point is two and a half per cent — and considerably less if you redeem through a poor option.
Which redemption option is best?
Usually partner transfers to airline or hotel programmes, where favourable ratios can produce value well above the cash equivalent. Statement credit and merchandise catalogues are typically the poorest, and they are also the most convenient — which is why most points get redeemed there.
Do points expire?
On many programmes, yes, commonly after two or three years. An expired balance returns nothing, so check the expiry policy and redeem before points lapse rather than accumulating indefinitely.
Is a points card better than cashback?
Only if you engage with the programme and redeem well. A points card redeemed through partner transfers can beat cashback comfortably. The same card redeemed for whatever is convenient usually loses to a simple cashback card.
What spending does not earn points?
Frequently fuel, rent, wallet loads, utility payments and EMI conversions, and there are usually monthly caps on accelerated categories. Those exclusions are in the terms rather than the marketing, and for some households they cover most of the spending.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.