One of the key criteria that a lot of banks put out these days is to meet a certain amount of spend before you can have access to a bonus kitty of miles. The intention is to get the customers to spend a certain amount of money on the card in a certain period of time, and get them used to the card. Take for instance the following: Citibank PremierMiles wants you to spend INR 50,000 to be able to receive an extra 10,000 PremierMiles on a new application within the first 60 days. IndusInd wants you to spend INR 125,000 to be able to earn an extra 20,000 JPMiles within the first 100 days. SBI Air India Visa Signature…
Manufactured spending
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Earning miles on a credit card and being paid for it
The recent festival season in India presented an interesting opportunity to earn miles & points, and also be paid for it. One of the banks in India was offering gift cards at a discount on the face value of the gift card, which essentially meant you would be getting more money to spend on the card than how much you paid for it. There was a 5% discount, so if you bought the gift cards worth INR 3,000, you only paid INR 2,850 for it. I was able to purchase this gift card with a points earning credit card issued in India, who gave me their normal points structure on this spend. In essence, I was earning miles, and roughly…
