How to multiply credit card rewards with SmartBuy, Reward Multiplier, and Gift Edge? | Mint

Most of us use our credit cards directly for online transactions or swipe them at the offline merchant’s Point of Sale (POS) machine. When we do that, we get the base reward points. But what if we told you that you can multiply your reward points (up to 10 times) if you pay through gift vouchers instead of the credit card directly?

Banks like HDFC Bank, Axis Bank, American Express, etc., have separate platforms for the purchase of these gift vouchers. You can multiply your credit card reward points when you buy gift vouchers of various online and offline brands from these platforms. You can then use the gift vouchers at the online/offline merchant for payment. Let us understand how.

HDFC Bank SmartBuy Platform

On the SmartBuy platform, HDFC Bank credit cardholders can buy instant vouchers and get up to five times reward points instead of the base reward rate. The platform has instant vouchers of more than 100 online and offline brands. The brands are spread across categories like grocery, fashion, travel, entertainment, wellness, electronics, etc. The gift vouchers of some well-known brands include Amazon, Croma, Lifestyle, PVR, Pizza Hut, ITC Hotels, Swiggy, Reliance Smart, etc.

The multiple for the reward points depend on the HDFC Bank credit card that you hold.

(Source: https://offers.smartbuy.hdfcbank.com/offer_details/smartbuy/15282/Zmilm2U%3D)

The table above shows how an Infinia cardholder can get five times reward points, and a Diners Black cardholder can get three times reward points instead of base reward rate. Along with multiple reward points, you can get discounts on instant vouchers of many brands. The cardholder should buy the instant voucher of the online/offline brand and pay using it rather than using/swiping the card directly with the merchant.

Apart from instant vouchers, the SmartBuy platform offers up to 10X reward points across various other categories like:

1. Shopping online with specified merchants like Nykaa, Myntra, Jockey, Pharmeasy, etc.
2. Booking hotels, flights, bus, train tickets, etc.,
3. Buying Apple products from Tresor
4. Booking holiday packages from MakeMyTrip

The reward points rate varies from 3X to 10X depending on the credit card held and the online merchant with whom the transaction has been done. There are limits on the maximum reward points that can be earned in a month. Also, there are limits on the amount of gift vouchers you can buy monthly for specific brands. Refer to the SmartBuy website for more details.

American Express Reward Multiplier Platform

On the Reward Multiplier platform, American Express credit cardholders can buy gift vouchers and get up to five times reward points instead of the base reward rate. Like the SmartBuy platform, the Reward Multiplier platform has gift vouchers of more than 100 online/offline brands.

The multiple for the reward points depend on the American Express credit card that you hold.

(Source: https://www.americanexpress.com/in/benefits/rewards-program.html#points)

The above table shows how American Express Gold Card holders can earn up to 5X reward points by purchasing gift vouchers instead of using the card directly with the online/offline merchant.

Apart from gift cards, another way to multiply your reward points is to visit the online merchant through the Reward Multiplier platform. For example, if you want to shop from Flipkart, visit the Reward Multiplier platform. Below the Flipkart logo, you will see the “Shop Now” button. Click on it.

On the next page, enter your 15-digit American Express credit card number and 4-digit security code, and click “Submit”. You will be redirected to the Flipkart website. Shop as you usually do on the Flipkart website and make the payment with the American Express credit card. Instead of the base reward points, you will get multiple reward points based on the American Express credit card you are holding.

The acceptance of American Express credit cards is lower than HDFC Bank credit cards that are issued on the Visa and Mastercard platforms. To overcome the American Express credit card acceptance issue, check whether the gift vouchers of the brand are available on the Reward Multiplier platform. If yes, paying through the gift card will help you get higher reward points and instant discounts, and also overcome the credit card acceptance issue.

Check the limits on the multiple reward points you can earn monthly. Also, there are limits on the amount of gift vouchers you can buy monthly for specific brands (for example, Amazon Pay gift vouchers). Refer to the Reward Multiplier website for details.

Axis Bank Gift Edge Platform

Axis Bank credit cardholders can buy gift vouchers of various brands from the Gift Edge platform. The benefits include instant discounts and up to 10% GyFTR Coins. While HDFC and American Express cardholders get multiple reward points, Axis Bank cardholders get GyFTR Coins. For gift vouchers of different brands, the percentage of GyFTR Coins offered varies and goes up to a maximum of 10% of the gift voucher value purchased.

The value of 1 GyFTR Coin is Rs. 1. The GyFTR Coins can be used/redeemed to purchase gift vouchers of various brands from the Gift Edge platform.

Similar to the HDFC SmartBuy and American Express Reward Multiplier platforms, the Axis Bank Gift Edge platform has a monthly limit on the gift vouchers of specific brands that can be bought. However, there is no limit on the amount of GyFTR Coins that can be earned.

Multiply your reward points this festive season

The festive season has already started. You may have planned some big purchases online or offline. Instead of using your HDFC Bank/Axis Bank/American Express credit card directly for the purchase, check if the gift vouchers of the brand are available. If yes, visit the above-mentioned platforms, purchase the gift vouchers of the brand and use them to pay. The gift vouchers will help you get instant discounts and multiply your credit card reward points.

Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.