Using a credit card to earn rewards is a great way to reward yourself for your everyday purchases. You can earn cash back, points or miles and redeem your rewards for cash, statement credits or even directly for your purchases.
Travel rewards
Whether you’re an occasional traveler or a regular one, a travel credit card can be a great way to get the most value out of your spending. These cards offer high rewards for most travel-related purchases, including hotel stays, car rentals, flights and more.
Travel credit cards can offer extra perks, such as airport lounge access, travel insurance and rental car protection. Depending on the card, you can also take advantage of bonus categories, such as dining, shopping and drugstores. In addition to cash back, many travel rewards cards offer bonus points to transfer to airline and hotel loyalty programs.
If you’re new to collecting points, the Chase Sapphire Preferred (r) Card is a good choice. It offers a low annual fee, a strong sign-up bonus and ongoing rewards rates. It earns 2.5% cash back on dining and travel, and 3% in your chosen category.
Cash-back rewards
Whether you want a credit card that offers cash-back rewards or you’re looking for one that’s a great deal, there are many options available. The right cash-back card for you depends on your spending habits and your credit score.
The best cash-back cards offer benefits beyond cash-back rewards. For instance, some cards have extra cash back for referring new cardholders. They also come with extended warranty coverage and purchase protection. Some cards also provide free or discounted travel packages.
If you have a good credit score, you’ll be able to apply for the best cash-back cards. You can do this by using the Bankrate Spender Type Tool to get recommendations based on your spending habits.
Points or miles
Using the best rewards credit cards is a great way to earn extra cash and perks. These cards typically provide perks like a free checked bag, access to airport lounges, and extended warranty protection. However, you should make sure you choose the right card for your spending patterns. If you don’t pay your bill on time, you can end up with credit card debt.
In a nutshell, the best rewards credit cards award you with miles or points for every dollar you spend. They may also offer other perks. For example, some credit cards give you a refund of the difference in price if you can’t find the product you need within a specified period.
Terms and conditions of a credit card agreement
Depending on the type of credit card you have, your terms and conditions may be found on one page or a series of pages. It’s always good to know what you’re getting before you hand over your hard earned cash. This is especially true if you’re a first timer to the credit card game.
The best place to start is with the fine print. While you’re there, don’t be afraid to tamper with the details. For instance, if you’re in the market for a new Visa card, you should consider all of your options before signing the dotted line. This includes things like the best time to switch accounts, the maximum number of cards you can carry at a time and how much you’ll pay in fees and charges.
Redeeming rewards for cash, statement credits, or directly for items when shopping
Choosing the best rewards credit cards is a great way to increase your earning power. These cards provide a variety of benefits, including increased earning potential, airport lounge access, purchase and price protection, extended warranties, and more. But not all cards offer the same value. The key is to find the one that’s right for you.
Before selecting a card, make sure you understand the cash-back rate. The base rate is typically one point per dollar. But some cards offer higher cash-back rates for specific spending categories. Generally speaking, higher cash-back rates are better.
Some cards have partnerships with retailers, so you can get rewards for certain purchases. For instance, the Citi Custom Cash(sm) Card offers 5% cash back on the first $500 in eligible purchases each month.
Redeeming rewards for business expenses
Using a business credit card is a smart business move. It allows you to manage the flow of cash into and out of your company without breaking the bank in the process. On top of that, the best credit cards offer free employee and vendor cards. Of course, you’re going to want to do your research to ensure you’re getting the best deal. Fortunately, there are plenty of reputable players out there, including Discover, Chase, Citi, and Amex. Some of these credit cards even offer special rewards programs for small businesses. These can include travel and insurance benefits, discounts on office supplies, and branded merchandise.
