Just sharing my experience on the similar campiagn, before this, they have capping of bonus and base on FCFS. End up I get nothing as it is fully redeem at 00.07.

This time, same campaign, but no capping. Sound like good to join.
But my own guess: since the bonus point only come in 8 weeks after 30Nov, and if someone already deduct all its points, if during this period, the miles devaluation happened before the 8-week times, then one will loss the chance to redeem miles (which have better value).

This is not rebate for miles redemption.
PwU is to "redeem" your point as "cash" to payoff your recent transaction.

PwU= Pay with UniRiggit
You can find PwU button after u enter card-page.