January 2020 was pretty mild as I did not make any major purchases, hence earning reward points was limited. However I did manage to score a couple of small but good ones.
Get rewarded for Insurance purchases
I did!!! American Express is running a campaign for Insurance payments where you get 10 points per Rs.100 spent on Insurance payments. I did not have any insurances to pay for the month. Know what I did?
Checked with my friends and relatives if anyone had to pay theirs? I found someone who needed to. I ended up making 500 points off it.
Small savings make a big difference
Here is a screenshot from my Amazon account. Small cashbacks and rewards you collect for your day-to-day expenses, grocery purchases, mobile top-ups will at the end of the year make a big difference.
In 2019 alone, I made over Rs.26,000 from Amazon as cashbacks and rewards. Rs.22,000 in my account, another Rs.4,000 in my wife’s.
My Overall Points, Cashbacks and Rewards
|wdt_ID||Period||Redeemed in the Year||Available Balance|
|2||31 Dec 2019||98,155||35,275|
|3||31 Jan 2020||8,086||35,687|
|Period||Redeemed in the Year||Available Balance|
My Cashbacks and Rewards as of January’20:
All of these are in Rupees. I have used the most conservative (well below market) values to convert points and miles to Rupees.
Available Balance – Points, Rewards and cashbacks
|wdt_ID||Segment||Value in Jan'20||Value in Dec'19|
|1||American Express Points||7,162||6,492|
|10||Flipkart Supercoins & Vouchers||2,860||2,764|
|11||Hotels & Stay points||2,593||2,593|
|12||Other points programs||200||700|
|Segment||Value in Jan'20||Value in Dec'19|
|∑ = 35,687||∑ = 35,277|
Redeemed Cashbacks and Rewards as of January’20:
This is as much a Passive Income as any other area. Think about it, if not for the cashbacks and points I used up, I would have spent actual cash. Thanks to the rewards and cashbacks, I could save actual cash and still buy day to day products.
|wdt_ID||Segment||Value in Jan'20||Total in 2019|
|1||American Express Points||0||10,000|
|9||All other Credit Cards||407||0|
|10||Flipkart Supercoins & Vouchers||0||1,000|
|11||Other points programs||0||500|
|14||Amazon Pay Card+Cashbacks||970||26,938|
|Segment||Value in Jan'20||Total in 2019|
|∑ = 8,086||∑ = 98,156|
All updates for the month of December’19:
- My Investment Updates for January’20 – Tax Season
- Stock Investment Updates Jan’20 – The Bloodbath continues
- Mutual Fund Investments Update – January’20 – Mutual Funds on FIRE!
- My Alternate Investments Update – January’20
- Earning Reward Points & Cashbacks update – January’20 <–You are here
- P2P lending updates – January’20 Cautious when lending