What is a Point Spending Rule?
A Point Spending Rule is Point Rule that applies to your store that will determine how customers can spend/redeem points.
Catalog Spending Rules
Catalog redemption rules are redemption rules that are applicable by product attributes. An example of a catalog redemption rule is:
If the customer spends 10 points they will receive a 5% discount on that product.
IMPORTANT: Please note that in order for catalog redemption rules to operate properly, you must have enable cron-jobs (or scheduled tasks) in Magento. For a tutorial on how to set up cron-jobs/scheduled tasks, please see: http://www.magentocommerce.com/wiki/how_to/how_to_setup_a_cron_job
Shopping Cart Spending Rules
Shopping cart redemption rules are redemption rules that are applicable by shopping cart attributes. An example of a shopping cart redemption rule is: If the customer spends 100 points they will receive a 5% discount on their entire cart's subtotal.
Also see Points Earning Rules