Look beyond the headline rate
A headline reward rate is only one part of the comparison. Check which spending categories earn points, whether the rate changes by merchant or payment method, and whether points are capped each month or statement cycle.
Check excluded transactions
Read the exclusions carefully. Wallet loads, rent, government payments, fuel or insurance may earn fewer points or none at all. A bonus category can also have a separate activation or minimum-spend condition.
Understand redemption value
Finally, compare the redemption value and expiry rule. One point is not automatically worth one rupee, and a transfer fee or catalogue restriction can change the real value. Save the current reward table and recheck it before a large purchase.
