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Rewards Credit Cards
Search, compare and review the best rewards credit card offers.
Learn How to Earn Rewards
Whether you are looking for a rewards credit card that pays you back in cash, travel miles, gift cards or points, there are several ways you can compare credit card rewards to ensure you get the most for your money.
Get the most credit card rewards.
You naturally want a rewards credit card that gives you the highest rewards in the categories where you spend. If you do not have a car, for instance, you won't want a gas rewards credit card. Likewise, if you don not travel more than a few times a year, a travel or miles card might not earn you the biggest credit card rewards.
Our best choice for a rewards credit card is one that gives you rewards or points on your everyday purchases and gives you the highest and the best rewards in the categories where you already spend. The best rewards credit card is the card that gives you top rewards, redemption choices you can really use and is a good all around value.
Ways to maximize your credit card rewards
- See what discounts, promotions or extra rewards are available when you shop affiliated partners. Many rewards credit cards have online shopping portals that provide you with extra rewards from popular retailers.
- Consider paying your utility payments, car insurance and other recurring bills using your rewards credit card to earn rewards on your everyday purchases and payments.
- Understand how your credit card rewards work and read the fine print. Most rewards programs have some limitations on how you earn, such as earn categories, time period (e.g. first six months get double cash rewards, etc.)
- If you run a business, you may benefit from a business rewards credit card that offers higher rewards on business purchases. Many business rewards credit cards have a higher rewards cap. For instance, rather than earning double points on gas purchases up to $2,500, you could earn double points on up to $5,000 in gas purchases annually and incremental rewards after that cap has been reached.
- If you carry a balance from month to month and do not make a lot of purchases, consider a credit card that gives rewards for things other than making purchase, like making on-time payments.
In addition to earning top rewards, you also want to consider ways you are able to redeem credit card rewards to your advantage.
See if there is an expiration date, limits or restrictions for using your rewards. If your rewards expire, make sure you will be able to accrue enough rewards to redeem before these rewards expire.
Some rewards credit cards provide extra rewards when you redeem for gift cards from retail partners. For instance, a $20 reward could get you a $25, $30 or $40 gift card from a retailer you use.
Find out the redemption levels or reward increments. For instance, can you redeem once you've reached a certain amount or are your rewards sent to you at year end?
Get the best value.
A low interest rate and no annual fee can improve the value of your rewards credit card. Rewards cards with no fees for same-day payments online or by phone, and services that help you avoid over-limit and late fees are also a good deal.
Find out the length of the intro APR, and what the APR will be after the intro period is over. Keep finance charges low by carrying as low a balance as possible. Paying on time prevents late fees and reflects well on your credit history. See if there are any hidden fees, including fees for making a same-day payment or payment by phone. Staying within your credit limit helps you avoid over limit fees, plus helps you maintain your low interest rate. No annual fee credit cards offer the best value.
Limit the number of rewards credit cards you have and build bigger reward balances across one or two rewards cards. Consumers should be armed with the information they need to help them make informed financial decisions.
Source: Success Magazine