Our Methodology

Last updated: May 2026 · We review and update this methodology quarterly

Point Valuations

Our point valuations represent the approximate value in Indian Rupees (INR) of one reward point when redeemed through each available method. Here's how we calculate them:

Statement Credit / Cashback

This is the simplest calculation. If a bank lets you redeem 1,000 points for ₹200 in statement credit, the value per point is ₹0.20. We verify this by checking the bank's redemption portal and cross-referencing with community reports.

Catalog Redemption

We compare the points required for a product in the bank's catalog against the same product's market price on Amazon/Flipkart. For example, if a ₹5,000 product requires 25,000 points, the value is ₹0.20 per point. Catalog values are typically the worst redemption option — we always recommend against catalog redemption.

Travel Portal Redemption (SmartBuy, EDGE Rewards)

We compare flight/hotel prices on the bank's travel portal (paid with points) against the same itinerary on direct booking sites (MakeMyTrip, airline websites). The difference gives us the point value. We sample 10-15 routes/hotels across economy and business class to get an average value.

Transfer Partner Valuations

This is the most complex calculation. When you transfer bank points to airline miles (e.g., HDFC to Singapore Airlines KrisFlyer), the value depends on how you redeem the miles. We use these benchmarks:

  • Economy class award flights: We use the average cash price of the same ticket divided by miles required
  • Business class award flights: Same method — cash price ÷ miles. This typically gives the highest per-point value
  • Hotel stays: Cash rate of the room ÷ points required for a free night

We report the value achievable through "optimal" redemption (typically business class flights or premium hotel stays) and note that casual redemptions will yield lower value.

Important Caveats

  • All valuations are approximate and represent averages across multiple data points
  • Banks change redemption rates, transfer ratios, and catalog pricing without notice
  • Actual value depends on what you redeem for — business class gives higher value than economy
  • We update valuations monthly but real-time changes may not be immediately reflected

Card Rankings & Recommendations

Our card rankings are based on these factors, in order of importance:

1. Effective Reward Value (40% weight)

Points earned per ₹100 spent × optimal point value in INR. This gives the true "return rate" of the card. A card earning 5 points at ₹0.50/point = 2.5% return.

2. Fee-Adjusted Value (25% weight)

Annual rewards earned minus annual fee (or likelihood of achieving fee waiver). A card that earns ₹15,000 in rewards but charges ₹10,000 in non-waivable fee is really only worth ₹5,000.

3. Accessibility (15% weight)

Income requirement, approval difficulty, and whether the card is invite-only. We weigh this relative to the salary guide context — a card requiring 30L income ranks lower in a "10L salary" guide even if its rewards are superior.

4. Supplementary Benefits (10% weight)

Lounge access, milestone bonuses, insurance, concierge services. These add value but are secondary to the core reward proposition.

5. Redemption Flexibility (10% weight)

How many ways can you use the points? Cards with multiple transfer partners and redemption options rank higher than cards locked to a single redemption method.

Comparison Methodology

Every card comparison includes:

  • Side-by-side feature comparison — fees, rewards, lounges, milestones
  • Real spend math — we model rewards earned on realistic monthly spend scenarios (e.g., ₹50K/month with typical category split)
  • Editorial verdict — a hand-written, opinionated conclusion. Every verdict is unique and based on our team's analysis, not auto-generated from data
  • "Who should pick what" — specific criteria for choosing each card

Data Sources

  • Bank websites and official card brochures (primary source)
  • Bank reward portals (SmartBuy, EDGE Rewards, etc.) for real-time pricing
  • RBI published data for market-level statistics
  • Community feedback from credit card forums, Reddit (r/CreditCardsIndia), and Telegram groups
  • Our own cardholding experience — our team collectively holds 30+ Indian credit cards

Update Schedule

  • Point valuations: Updated monthly
  • Card comparisons: Reviewed quarterly, updated when terms change
  • Salary guides: Reviewed quarterly
  • New card launches: Covered within 1 week of launch
  • Devaluation alerts: Published within 48 hours of announced changes

Corrections & Feedback

We strive for accuracy but errors can happen, and bank terms change frequently. If you notice incorrect information on any page, please email us at hello@pointswallah.com with the page URL and correction details. We investigate and update within 48 hours.