- Low redemption value: The redemption value of SBI Rewardz points is relatively low. For example, you need to earn 1000 points to redeem a Rs. 100 gift card. This means that you need to spend a lot of money to earn enough points to redeem for a significant reward.
- Limited rewards: The selection of rewards available in the SBI Rewardz catalog is limited. There are a few popular items, such as gift cards and travel, but there are not many other options. This can make it difficult to find a reward that you actually want.
- Technical problems: There have been reports of technical problems with the SBI Rewardz website and app. For example, some users have reported that they were unable to log in to their accounts or that their points were not being credited correctly.
- Customer service: The customer service for SBI Rewardz has been criticized for being slow and unresponsive. Some users have reported that they have had to wait weeks to get a response to their queries.
- Expiry period: SBI Rewardz points expire after 1 year (36 months) from the month of accrual. This means that any points that you earn will expire 3 years after the month in which they were earned. For example, if you earn points in January 2023, they will expire in January 2026.
- Limited Redemption Options: Some RBL programs may offer a limited range of redemption options. This can be frustrating for users who prefer flexibility in how they utilize their rewards. If the available redemption choices do not align with the user's preferences or needs, the perceived value of the rewards decreases.
- High Minimum Thresholds: Many RBL programs set high minimum thresholds for redeeming rewards. Users may have to accumulate a substantial number of points or rewards before they can access any tangible benefits. This can be discouraging for customers who don't frequently use the associated services or products.
- Points Expiration: Some RBL programs impose an expiration date on earned points. If users fail to redeem their rewards within a specific timeframe, their accumulated points may expire, leading to a loss of value for the customer.
- Limited Transparency: RBL programs may lack transparency in how they calculate rewards or how users can earn points. This lack of clarity can leave customers feeling uncertain about the actual benefits they are receiving, eroding trust in the loyalty program.
- Inflexible Terms and Conditions: Some RBL programs may have complex and inflexible terms and conditions. Customers may encounter difficulties understanding these terms or finding out about certain limitations when attempting to redeem their rewards.
- Poor Customer Service: If a loyalty program's customer service is lacking, users may encounter challenges in resolving issues or obtaining assistance related to their rewards. This can lead to frustration and dissatisfaction among customers.
- Lower Reward Value: In some cases, the actual value of rewards offered in RBL programs may be lower than expected. Users might find that the effort required to earn points does not align with the value they receive in return, leading to disappointment.
- Restricted Eligibility: Certain RBL programs may have restrictions on eligibility, limiting participation to specific regions, customer tiers, or transaction types. This exclusion can alienate potential customers and create a sense of unfairness.
- Inactivity Fees: Some RBL programs impose inactivity fees if customers do not engage with the loyalty program for a certain period. This can result in users feeling penalized for not using their rewards promptly.
- Difficulty Tracking Points: If the process of tracking earned points or rewards is not user-friendly, customers may struggle to keep track of their progress and understand how close they are to redeeming rewards.
- Redemption: None. Bounties = Gold / Bitcoin
- Limits: None. Gold / Bitcoin = Actual asset.
- Expiry period: None. Gold / Bitcoin don't expire.
- Minimum Threshold: None
- Reward value: As listed on app. No questions.
- Reward tricks: None.
- Reward calculation: Issued instantly, spend and see.
Get real money in rewards.