Most banks want you to redeem through their catalogue. It's the worst possible use of your points. Here's the data.
When you redeem points through your bank's rewards catalogue (electronics, gift vouchers, statement credits), you typically receive ₹0.20-0.25 per point. But those same points could be worth ₹0.50-1.25 per point through smarter paths. That's a 2-5x difference.
* "Value Lost" = (Best Path − Bank Catalogue) / Best Path. Indicates how much you sacrifice by using bank redemption.
Transfer your points 1:1 to airline loyalty programs and book premium cabin award flights. The single highest-value use of credit card points.
For points you can't or won't use for travel. Cashard offers 2-3x better returns than bank catalogues, with secure escrow and 24hr payouts.
Use bank travel portals (SmartBuy, etc.) for flight and hotel bookings. Acceptable mid-range value for casual travelers.
Enter your program and points balance to see exactly how much value you're leaving on the table with bank redemption.
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