Abstract: Method for interactive collection, exchange and redemption of reward points relating to products or services including the step of identifying a user; retrieving a point balance corresponding to the user; offering a list of reward options to the user; receiving a selection option from the user corresponding to the list of reward options; prompting the user to input a bid value for the selected reward option; prompting the user to input a bid value for the selected reward option; receiving the bid value from the user corresponding to the selection option; deducting a bid fee from the point balance of the user; determining if the user's bid value is a winning bid value at a pre-determined time; and awarding the selection option to the user and deducting the bid value from the point balance, if the user's bid is the winning value.