Credit card reward system loses luster as points devalue

BEIJING - After racking up 10 million air miles, George Clooney is given a platinum travel card, and he uses his accumulated credit card points to get two air tickets worth 500,000 miles apiece as a reward.

That is the end of the Oscar-nominated movie Up in the Air. Nowadays in China, however, credit card points cannot be redeemed that easily for gifts.

Many Chinese banks increased the point cost of gifts last year to hold onto more of their profits.