Many people choose credit cards that give rewards. This is quite understandable because they do get more than what they purchased, which means they receive more value for their money.
Here are some rewards that are usually given by the majority of credit card companies in the industry.
Travel Rewards
This is the ideal credit card reward for people who travel frequently. Cardholders get points whenever they use their card for purchases or balance transfers. These points can be converted into rewards that they can use when they are away from home, such as overnight hotel stays. They can also use these points to upgrade hotel accommodations.
Mileage Rewards
There are credit card companies that give free airline miles as a reward. The number of miles earned depends on how much is spent using the credit card. A cardholder can use the miles to pay for a fraction of the ticket cost or, if sufficient enough, even for an entire flight. Some companies also give additional miles when the card is used to buy airline tickets. Aside from the miles earned with purchases or transfers, cardholders can get complementary airline tickets when they renew their card. They can also earn free airline tickets as rewards for purchasing pre-specified qualifying tickets.
Discount Rewards
Some credit cards pretty much function like membership or VIP cards. They entitle the holder to discounts in certain establishments like restaurants, shops, cinemas, and even exclusive bars.
Gift Card Rewards
The points earned can be redeemed as gift cards. These can then be used to buy merchandise in specific stores. Gift cards can be given to friends and loved ones as presents or they can also be used when shopping.
Membership Rewards
Being a cardholder of certain affluent credit cards can be like being a member of an exclusive club. These credit card companies usually provide luxury privileges, like concierge services, that cardholders can use when they need assistance in shopping, dining, and such lifestyle activities. Cardholders also receive gifts from top-rate companies, especially during the holidays.
Cash Back Rewards
What better reward is there than to be able to earn while you spend? Credit card companies that offer cash back rewards actually return a small percentage of the total amount spent. So, the more the credit card is used, the bigger the amount of money received.
Remember, although most credit cards come with a specific kind of reward, there may be some that offer more than one. Thus, it is always best to compare before deciding. And when you do, make sure the credit card rewards you go for would match your lifestyle.
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