Redeemable/rɪˈdiːməbl/ Definition 1 of 3Pro Tip 1/3Exchange Method Redeemable usually means you trade a coupon or voucher for goods or a discount. The points are redeemable for gifts. Pro Tip 2/3Limited Locations Some redeemable items are only valid at specific places or branches. This ticket is redeemable only at participating theaters. Pro Tip 3/3Expiration Date Redeemable objects often have a time limit by when they must be used. Check if the redeemable offer expires next month.