Friday, April 17, 2009

SBI Card reward points worth no more

Credit card reward points are one of the features the card company used to convince people to market the cards. Credit Card reward points are of different types like you get cash back, gift vouchers, fuel coupons, air miles rewards etc. Earlier if you redeem your credit card points, there is no charges involved. For SBI card and Citibank Cash back gold card there is no charges earlier, I am not sure of other cards. Yesterday when I tried to redeem my reward points in my SBI Gold card, the customer care executive said that there will be a charge of Rs 75 + taxes for redeeming reward points. So, each time uf you want to redeem reward points there will be this charge included. They said this was effective from April 01, 2009. This kind of things they will never notify in their site, because by seeing this customers will get alerted. If they had said this earlier in their site, then before April 01, 2009 so many customers might have redeemed their reward points. Anyhow I have no other option but to redeem it. Earlier once, when I tried to redeem the reward points, I selected 2 Adidas voucher for Rs 500, since I had . The points required for each redemption is only around 1200 the website said, but in customer care center they said that around 1950 points is required. So I could only get one 500 Rs voucher. They said their website will be updated later on. Now with charging Rs 75 + taxes, I don't think it is worth to use SBI Csrd. Also their gifts has been reduced, and the power points required has been increased. Compared to few days back, they only have few gifts to choose from. 1 year after they cheated me at balance transfer, I started using this card now, but don't think it is helpful in anyway, or is good from other cards. So my next target is to close this card.

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I am a Software Engineer based in Chennai, India. My hobbies are blogging, driving. You can contact me here,

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Disclaimer: All the information given in this blog is only my ideas and knowledge what I got from internet or other sources. For any interest rate, charges etc check the particular service as the charge might have changed. Regarding the intraday trading tips, this is applicable for that day only and also shouldn't be taken as advice. All the actions taken by you is responsible by you only. Thanks.

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