What are the types of credit card rewards usually on offer?

Answered on October 08, 2010
Updated on October 08, 2010
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
There are varying degrees of credit card rewards that credit card issuers give out to attract more customers, given the stiff competition in this field. With millions of new credit card accounts being approved every quarter, credit card companies are doing everything they could to win customers, especially those who have a very good credit history. Even the credit card rewards are therefore segregated in a similar way, in the sense that the best rewards are usually available to credit card customers with high credit card ratings. Amongst the most popular rewards are the air miles that are rewarded for a stipulated amount of expenditure every month. Credit card customers need to accumulate these air miles and when they have enough of them these could be redeemed to get discounts on airline tickets. Some cards even offer special privileges which include lounge and concierge services at the airports not available to normal passengers. Another very popular credit card reward offered on many cards is the cash back offer. In the cash back offer, credit card customers get some of the money they have spent during the month back. The amount of cash that is returned could vary from 1% to 5%. In fact, it could vary depending on where the purchases have been made, for example, groceries and gas stations could lead to greater cash back. The cash is returned in the form of a check addressed to the credit card holder or added to the account so that it can be redeemed in terms of purchases in the next month. Credit card rewards also include special discounts at shopping malls at select merchants or special brands. Some could be flat discounts on anything that the credit card holder purchases while others could be in the form of discounts on purchases after the credit card holder has shopped for certain amount of money. While the former reward is quite useful, the latter is not so useful unless the credit card holders use it efficiently. Credit card rewards also include loyalty points which are rewarded after every expense. These loyalty points can then be redeemed by the customer. While some could be exchanged for gifts or other merchandise in the inventory of the credit card company, others offer discounts on special brands or select shopping malls where these loyalty points can be used to get rebates of any purchase made.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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BROWSE MORE QUESTIONS ABOUT Credit Card Rewards:

You will earn cash back by making purchases at select merchants. These merchants can be found in the Venmo Card section of Venmo app. Earned cash back will be applied to your Venmo account. If you are looking for cash back, we recommend you to apply for cash back credit cards.
For sure, you may choose from different cash back credit cards. You may find there offers with up to 5% cash back, no annual fee, sign-up bonuses and other perks. Pay attention to credit cards with increased cash back bonus categories. For example, if you spend a lot on gas purchases, credit cards with special cash back on gas category may be your choice.
HSBC Cash Rewards Mastercard® credit card comes with the following cash back rewards: 3% introductory cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. Get 1.5 cash rewards on every $1 you spend on all new, net purchases after the intro period. If you want to earn more, you may consider other cash back credit cards.

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