What a credit card reward point is actually worth
Updated 30 September 2026
There is no single answer, and anyone who gives you one is guessing. Across the points and miles offers in our database, published redemption values run from Rs 0.01 to Rs 1.00 a point, with a median of Rs 0.25. The same point can be worth a hundred times more or less depending only on the route you redeem it through.
Only 34.6% of points offers publish a value at all
Of 2,062 points and miles offers we hold, 713 carry a published redemption rate. The other 1,349 do not. This is why a card advertising '10X reward points' can be impossible to compare against one advertising '2% cashback'. One is a rupee figure and the other is not, until you know what the point redeems for.
The redemption route is the whole answer
262 offers in our database publish more than one value for the same point, because the value changes with the route. Statement credit, vouchers, product catalogues and transfers to airline programmes rarely pay the same. A point worth Rs 1.00 against a flight can be worth Rs 0.25 against a catalogue product.
| Published redemption route | Offers |
|---|---|
| Not applicable | 1,554 |
| Vouchers products | 229 |
| Statement credit | 134 |
| Rbl rewards | 28 |
| Cashback | 27 |
| Flights hotels | 18 |
| Airmiles | 11 |
| Bill payment | 2 |
| Travel services adani | 2 |
| Travel portal | 1 |
| Travel scapia app | 1 |
| Not published | 55 |
| Total points and miles offers | 2,062 |
How to convert a points rate into a rupee rate
Take the points earned per Rs 100 spent, multiply by the published value of one point, and you have the effective percentage. Five points per Rs 100 at Rs 0.25 a point is 1.25% back, not 5%. The gap between how the offer reads and what it pays is where most of the confusion in Indian credit cards lives.
Treat an unpublished value as zero until you check
If the issuer does not publish a redemption value, you cannot compare the card on rupees, and neither can anyone else. Check your own issuer's catalogue before assuming a rate. We never publish a rupee value for a point where the issuer has not published one, which is why some of our pages show a points rate without a rupee equivalent.
Figures on this page are computed from AskTula's offer database, 11,437 live offers read from published terms across 593 cards and 47 issuers, as read on 30 September 2026. They describe what issuers, merchants and card networks publish, not what any individual card will pay you.