However, they are limited when compared
with other types of reward cards.
With other types of rewards cards, you might earn a higher percentage for groceries, gas, dining, travel or department store spending, and those categories may or may not change.
Not exact matches
The Chase Freedom ®
card is an example
of a gas
rewards credit
card that offers ample cash back on gas (5 % as part
of rotating quarterly categories), along
with cash back on all
other types of purchases.
Since some
cards are more
rewarding in certain categories than
others, you need to consider the
types of vendors your company shops
with the most.
The
card has a fantastic
rewards rate across spending at its affiliated hotels (6 %), though it lacks the any substantial long - term bonuses that we see
with other cards of this
type.
Most credit
cards come
with perks like cashback, travel
rewards, and
other types of benefits.
For example, in the following table we calculate the
rewards earnings for a cardholder who spends $ 48,000 on a
card in a year,
with 6 percent
of their spending allocated to office supplies, internet, cable and phone services ($ 2,880); 12 percent to dining out ($ 5,280); 11 percent to gas station purchases ($ 5,760); and 71 percent to
other types of purchases ($ 34,080).
As
with other types of credit
card rewards,
cards offering miles allow you to earn a specific number
of miles for each dollar spent on your
card.
You want to look for a
rewards card that lists restaurants as one
type of purchase that will give you a higher amount back than
other things you can buy
with it.
You will not earn 2X
rewards (i) on any bonus you may already receive
with your
Card, including any additional points / miles / cash back that you may already receive when you spend on certain
types of purchases or at certain merchants or (ii) on any
other bonus /
rewards you may earn
with a different promotion or offer from American Express.
And,
of course, the best value from
other types of rewards credit
cards will be when you redeem for product or services
with the actual sponsor
of the
rewards card.
Meanwhile, Huffman advises consumers who want to continue buying gift
cards with their credit
cards to visit
rewards blogs and online forums to keep up on the latest news — and also to learn tips and tricks for maximizing their
rewards from
other types of purchases.
The only
other type of sweetener
with that level
of monetary worth is typically a mileage bonus offered by one
of the major airline
reward credit
cards.
Credit
card miles can be combined
with other types of miles earned in the program toward
reward redemptions
of all
types.
As
with other types of credit
cards, you'll want to compare
rewards and signup bonuses when choosing a chip - and - pin
card for your trip.
With rewards cards, the interest rate tends to be higher (15.30 percent) than with other types of cards (11.98 percent for low interest cards), according to CreditCards.com's weekly Credit Card Rate Rep
With rewards cards, the interest rate tends to be higher (15.30 percent) than
with other types of cards (11.98 percent for low interest cards), according to CreditCards.com's weekly Credit Card Rate Rep
with other types of cards (11.98 percent for low interest
cards), according to CreditCards.com's weekly Credit
Card Rate Report.
You might be an ideal candidate for an airline credit
card if... Due to the many factors involved in redeeming air miles, it make seem like most cardholders should simply pass on this
type of credit
card and select one
with some
other type of rewards program.