Canara Bank Credit Card Rewards

Canara Bank Credit Card values each transaction made through the card. For every Rs. 100 spent, the customer gets 2 reward points. So, a transaction amount of say, Rs. 1,526 , accrues 30 reward points.

Salient Features of Canara Rewardz

• A cardholder automatically gets enrolled in this loyalty programme
• Reward points start accumulating with every transaction
• To view or redeem these reward points, the cardholder needs to activate his/her account by verifying personal details after clicking the ‘first time user’ option
• The reward points can also be speeded up by shopping at a given list of Max Get More partner outlets for accelerating Canara Bank Credit Card rewards
• The exciting part is that the enrolment is without any joining fee in most credit card categories; only service charge of 2.5% is levied every month
• Almost all credit cards under this Canara Bank Credit Card holders’ loyalty reward scheme are endowed with accidental insurance cover to the customer and his/her spouse

Credit card category	Enrollment charges	Credit limit	Cash withdrawal limit	Accidental insurance
Visa Classic Credit Card	Zero	30% of gross annual income	50% of card limit	Air crash: 4 and 2 lakhs respectively for self and spouse Other causes: 2 and 1 lakh respectively
Visa Gold Credit Card	Rs.  250 one time	50% of annual income	50% of net credit limit	Air crash: 8 and 4 lakhs respectively for self and spouse Other causes: 4 and 2 lakh respectively
Mastercard Standard Credit Card	Zero	Higher of 30% of annual income or 3 lakhs	50% of net credit limit	Air crash: 4 and 2 lakhs respectively for self and spouse Other causes: 2 and 1 lakh respectively
Mastercard Gold Credit card	Rs.  250 one time	50% of annual income	50% of net credit limit	Air crash: 8 and 4 lakhs respectively for self and spouse Other causes: 4 and 2 lakh respectively
Mastercard global credit card	Rs.  250 one time	50% of annual income	50% of net credit limit	Air crash: 8 and 4 lakhs respectively for self and spouse Other causes: 4 and 2 lakh respectively
Corporate Credit Card	Rs.  250 one time	Rs. 50,000-  Rs.  1,00,00,000 in multiples of Rs. 5,000	NA	NA

Note:  Free ‘Credit Period’ is valid up to 50 days for all the above mentioned banks

All Canara Bank Credit Cardholders automatically gets enrolled to Canara Rewardz and are credited with reward points each time they swipe their card. These reward points can be redeemed in 2 ways:

Visa Cashback	Purchase of Goods and Services
On accumulation of reward points the same can be encashed	Accumulated reward points are used to buy products and services

In case of choosing the second option, there are more rewards waiting for the customer in the form of discounts on a wide range of goods and services. Canara Bank credit card rewards can be redeemed in the following transactions of goods and services:

• Huge collection of products– This includes a wide range of featured products, gift items, utility as well as luxury items which are available at a discount. The reward points can be redeemed on purchase of these items.
• Seasonal collection of various products– There are some items which are available at a point in time and are subject to a huge discount. The same can be purchased while redeeming the Canara Bank Credit Card Rewards.
• DTHrecharge – The Canara Rewardz can be redeemed to pay the DTH bills.
• Mobile recharge– The credit card reward points can be used to recharge mobiles by customers.
• Booking movie tickets– The Canara Rewardz can extend to ticket bookings for movies. So, the points can be redeemed to pay for movie tickets.
• Hotel booking– Hotel charges can be adjusted by redeeming the reward points of the Canara Bank Credit Cards.
• Airlines ticket booking– Canara Rewardz,e. Canara Bank Credit Card Rewards can be redeemed by booking airline tickets.
• Bus tickets booking– Bus tickets can also be booked by redeeming the credit card reward points.

What is the encashment value for each of my reward point?
The encashment value for each reward point is 0.25. This means that 4 reward points of Canara Rewardz make 1 rupee.

Is the conversion rate different for encashment and purchase of goods and services?
This conversion rate remains the same for both redemption to cash and redemption by the purchase of goods and services.

How soon can I redeem my reward points?
For cashback option, the minimum reward points required for redemption is 1000.

All reward points above 1000 can be encashed in multiples of 1000.

For transactions involving buying goods and services, there should be a minimum of 100 reward points to redeem the same.

How frequently can I redeem my Canara Bank Credit Card reward points?
For cashback option, reward points can be redeemed every 3 months whereas for buying products and services, redemption can be done daily.

What is the maximum period within which I should redeem my reward points?
The validity period for redemption of Canara Bank Credit Card Rewards is 3 years from the date of accrual of each reward point, post which it lapses.

What is the procedure to redeem my reward points?

• For redeeming reward points that have accrued out of different transactions, the customer needs to log on tothe official website. After that, once the customer types in his credit card number, an OTP is sent to his registered mobile number. By entering the OTP, the customer can set his user ID with a password.
• Thereafter, the customer can login to the user ID. He/she will get an option of cashback or redemption by the purchase of products and services. The customer needs to choose what he/she wants out of the two options. This is how points are redeemed on Canara Bank Credit Card Rewards.
• Alternatively, he/she can call on the toll-free number 1800 419 3018, Monday to Saturday between 10 am and 7 pm to redeem his/her Canara Rewardz points.

Thus, Canara Bank Credit Card Rewards offers a plethora of diverse add-ons and facilities, with accidental death coverage and shopping benefits down to recharges and ticket-payments; all this to enhance the overall banking experiences of its customers.