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2.5. Common reward program conditions

Credit card reward programs have rules around how you earn points, when you can redeem them and a number of other factors. Some of the most common conditions include:

  • Point caps: This limits the number of points you can earn in a month or a year.
  • Point expiry: Some reward program points expire after a set amount of time, which means if you don’t use them, you lose them.
  • Redemption limitations: Sometimes you might be restricted from claiming particular rewards, particularly for flights and hotels. For example, you might not be able to book a flight using reward points during school holidays.
  • Bonus point spending: A lot of reward cards offer thousands of bonus points when you sign up for them. To earn these points, you usually have to spend a certain amount of money within a month of activating the card.

TIP: Reading the terms and conditions of a rewards program will help you work out how much value you can get from specific credit cards and offers.