How Credit Card Rewards Points Benefit Customers
by Sam J. Writer - FinancialRewards points are an omnipresent feature when it comes to credit cards. A credit card with rewards points is what most Malaysians look for. Rewards points are basically like a token of gratitude that banks roll out to their credit card customers to have them swipe more often.
Credit card rewards programs are usually characterized by ties with partner brands and merchants. Reward points redemption is usually enabled to customers when they use a credit card for a set number of retail transactions, or for a minimum transaction amount. They are usually redeemable on business avenues like shopping, hotel, dining, travel, flights and overseas spending.
Purpose of Credit Card Rewards Points
The main aim of rewards points is to provide customers a sense of renewed privilege, every time they swipe their credit card. At the same time, it increases the profitability of banks and partner merchants alike through achieving high sales volume, by making the customer happy; which means rewards point is a holistic way to bring customer patronage!
Malaysian banks take the prospect of rewards points very seriously that some like credit cards that provide to 6x rewards points; the Sutera Platinum card from Hong Leong Bank (HLB) is an example of the same. This rewards points credit card also features various other exciting and invaluable privileges. If you still want to get a wider perspective, they also offer many rewards points credit cards that could suit your diverse financial needs and spending agenda.
Advantages of Rewards Points
- Earn as you spend:
The more you spend, the more you earn. Rewards points accumulation is unique that way. So, if you are someone who indulges in retail transactions, a rewards points credit card could help you save a lot on your expenditure with numerous merchants.
- Spend where you like:
You can use your credit card rewards points in full or a part of it, to pay for your various financial obligations like purchasing something in retail to paying off your debts like a personal loan or mortgage.
- Rewards Point-to-Ringgit value:
Rewards points can also be utilized to purchase gift cards. Gift cards are known to provide monetary value to-the-point so that you get the corresponding currency value for the accumulated points rather than a reduced value. This is not limited to gift cards, as some banks like HLB Malaysia provide point-to-ringgit value for a multitude of rewards point redemptions.
- Redeem & save on travel:
Travel is one important credit card avenue, where customers always look for special financial offers and subsidies. Hence, rewards points can also be redeemed on frequent flyer miles and several other travel-related platforms like hotels and overseas spending.
- Transfer your rewards points:
Sometimes, you might not have the need to redeem your rewards for any purposes because of other. You could end up feeling like you are unable to properly utilize all the credit card rewards points that have been accumulated. In such cases, you can diversify their use to pay your pending bills, cash out, clear short-term debts, or even transfer it to your savings account, provided the bank permits.
Why choose a rewards points card?
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Created on Aug 30th 2018 08:30. Viewed 526 times.