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Slice bank credit card approved

You can slice vegetables using this card
Donald Duck Lol GIF
 
Hi everyone,

I'm trying to fully understand the reward structure of my Slice credit card and I've hit a point of confusion, specifically with the term "Monies".

Here’s the reward scheme as Slice explains it:

· Till 3 lakh Monies: 1% rewards
· On reaching 3 lakh Monies: 1.5% rewards
· On reaching 5 lakh Monies: 2% rewards
· If avg. quarterly balance (last 90 days) is >5 lakh, after 5 lakh Monies: 3%

My questions are:

1. What exactly is the definition of "Monies"? From what I can tell,it seems to be the lifetime cumulative spend on the card. Is that accurate? For example, once my total all-time spending on the card crosses ₹3,00,000, my reward rate should permanently bump up to 1.5%. Is this correct?

2. Do "Monies" expire? Is this lifetime cumulative spend tracker reset annually,or does it continue forever?

3. This is the biggest confusion: REDEMPTION REDUCES MONIES! I noticed that when I redeem my reward points,my "Monies" balance also decreases by the amount of points/cashback I redeem.
For example if I earned 100000 monies and once I redeem it to cash (rs 1000), my monies reduces
 
My questions are:

1. What exactly is the definition of "Monies"? From what I can tell,it seems to be the lifetime cumulative spend on the card. Is that accurate? For example, once my total all-time spending on the card crosses ₹3,00,000, my reward rate should permanently bump up to 1.5%. Is this correct?

2. Do "Monies" expire? Is this lifetime cumulative spend tracker reset annually,or does it continue forever?

3. This is the biggest confusion: REDEMPTION REDUCES MONIES! I noticed that when I redeem my reward points,my "Monies" balance also decreases by the amount of points/cashback I redeem.
For example if I earned 100000 monies and once I redeem it to cash (rs 1000), my monies reduces
This is the beauty of this card.

karm karo (keep spending)
fal ki chinta (dont redeem reward points)
 
This is the beauty of this card.

karm karo (keep spending)
fal ki chinta (dont redeem reward points)
I asked all these questions to customer care and made a post on it

 
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