How Can You Redeem Credit Card Rewards Points for Cash?


Quick Answer

Different banks or credit card companies have varying steps for redeeming credit card points. If, for example, an individual is redeeming points from the Housing Development Finance Corporation bank, the individual can check points, select rewards, generate a coupon, print the coupon and post it to the bank for processing of the rewards chosen. There are over a trillion credit card points in circulation as of 2015, according to CBS News.

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How Can You Redeem Credit Card Rewards Points for Cash?
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Full Answer

Some credit card companies may allow users to redeem points by calling customer care service centers and providing certain details for verification before the process can be initiated.

Another method used to redeem points for cash is by mailing a filled redemption form. These forms can either be obtained from select bank branches or downloaded through the company's website. Once the form has been filled, it is sent by mail to the address given.

Online credit card point redemption is another method that may be used depending on the card issuer policies. This method is relatively cheap and convenient as the individual can use any device with an Internet connection to redeem points for cash.

Once points have been redeemed for cash, the credit card issuer usually sends the amount to the user's personal bank account or any other option agreed upon. Over 61 percent of credit card users redeem their points for cash, notes CBS News.

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