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Before we talk about the features of the credit card rewards, let us first understand what credit card rewards are. If you are a prospective credit card holder, you will be offered various benefits or rewards such as flyer points, cash back, or gift certificates. However, all these depend on the type of cards you hold and the offers each issuer provide as well as the usage of your card.
There are various types of credit card rewards. Let us discuss about some of these rewards.
Airline Miles Credit Cards
Many airlines created credit cards through which you may accumulate points on buying tickets. These points can be exchanged for a future ticket purchase or an accommodation in a hotel. This is very beneficial if you are a frequent flyer, provided you make sure the points has a limit and expiry date for redemption.
Plenty of credit cards are offered if you own a business and have a considerable credit. Added advantages of managing your account online, keeping track of your transactions and expenses, downloading your statements, and software for bookkeeping is offered.
Cash Back Rewards
One of the most prevailing rewards that is very flexible as you may avail this reward to use for anything you wish to. Some card issuers offer gift certificates or credit the amount into your account or send a check to you. It is recommended that you be aware of the rebates as it varies for every provider.
Gas Station Rewards
With the increase in demand for fuel and its rising prices, the gas station rewards are growing in popularity. Some of the credit cards allow you to receive rewards for a particular company of gas while some of the cards allow you to utilize the awards for the purchase of gas from all companies. You ought to be clear about this and if there are any additional charges before you procure a card.
These rewards are very beneficial if you are a frequent traveler and stay in hotels. These cards are normally valid for a stay in certain chain of hotels and would earn you more points with your expenses during the stay in the hotel. You may utilize these for further stay or other travel expenses etc.
Everyone benefits as these rewards gain you incentives for purchasing from certain retail stores. Some rewards are valid only on purchase of certain type of products while the others offer for all general purchases. The rewards vary according to your credit points too.
These rewards provide you with airline miles points or hotel stay and can be redeemed for future tickets, hotel stay, and upgrades during travel, or even car rental. However there may be limitations on the brands and so make sure about this as well as the expiry dates if any.
The list of credit card rewards goes on like student credit cards, zero APR rewards, misc rewards, secured credit cards, etc.