Rewarding credit card features

Many Chase credit cards earn Chase Ultimate Rewards® points and provide the flexibility for points to be transferred between cards.

That means you can move points from the Chase Freedom® cash back to the Chase Sapphire Preferred® points. However, if you have a mix of cash back, points and miles cards each from different issuers, you won't have the ability to combine rewards.

Instead, you'll need to stick to redeeming rewards individually for each card. For instance, you can redeem rewards for a statement credit on your cash-back card to offset your bill. Then, any cards earning points or miles can be used for travel and gift cards, among other options.

Information about the Chase Freedom® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. For rates and fees of The Platinum Card® from American Express, click here. Skip Navigation. Credit Cards. Follow Select.

Our top picks of timely offers from our partners More details. Choice Home Warranty. National Debt Relief. LendingClub High-Yield Savings. Freedom Debt Relief.

UFB Secure Savings. Select independently determines what we cover and recommend. We earn a commission from affiliate partners on many offers and links. Read more about Select on CNBC and on NBC News , and click here to read our full advertiser disclosure.

Points Other rewards cards that don't earn cash back either provide points or miles. Miles Most co-branded airline cards offer miles as part of the brand's unique membership rewards program. Value of rewards The amount your rewards are worth can vary by program. Redemption options While the value of rewards varies between programs, redemption options are often similar.

Rewards expiration In most cases, as long as your account remains open and in good standing, you'll have access to your rewards. Also keep in mind these two limitations: You can only transfer or combine rewards with cards from the same issuer, meaning from one Amex card to another Amex card.

You can only transfer or combine rewards between the same type of cards, such as a point card to another point card. Don't miss: Here are 9 fitness, streaming and other premium memberships you can get for free with select credit cards Capital One Venture and Savor cardholders now earn bonus rewards on Uber Eats Visa backs the first-ever credit card to offer bitcoin rewards How to find out if your premium travel card is still worth the high annual fee.

Wireless carrier fees may apply. Call us. Priority code: HC02J6. Schedule an appointment to apply in person. Skip to main content warning-icon.

You are using an unsupported browser version. Learn more or update your browser. close browser upgrade notice ×.

Bank of America® Customized Cash Rewards Credit Card. We're sorry, this page is temporarily unavailable. We apologize for the inconvenience.

Visit our homepage. Visit credit card homepage. Unavailable One or more of the cards you chose to compare are not serviced in English. Apply Now for Bank of America ® Customized Cash Rewards credit card.

Card Details Card Details. Calculate rewards Cash Rewards To change your choice category for future purchases, you must go to Online Banking, or use the Mobile Banking app Mobile Banking. This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank.

You can take advantage of this offer when you apply now. Standard APR Rewards Earn Redeem. Calculate your rewards Use our rewards calculator to see how much cash back you can earn Enjoy the flexibility to choose how you redeem your cash rewards — options include: Redeem your cash rewards for any amount, anytime for statement credits, deposits made directly into a Bank of America ® checking or savings account, or for credit to an eligible account with Merrill.

You may set up automatic redemptions into an eligible Bank of America ® or Merrill ® account. Statement credits, checks and contributions into a qualifying account are not eligible for automatic redemption enrollment. See how much cash back you can earn. Tell us how much you spend every.

Your cash back rewards available on redemption. Earn more cash back as a Preferred Rewards member. Learn more about Preferred Rewards Preferred Rewards makes your credit card even better.

Stay Protected We block potential fraud if abnormal patterns are detected and let you know if we suspect fraudulent activity. Who's this for? The American Express® Gold Card is ideal for earning travel rewards on common everyday spending categories like dining and groceries.

Standout rewards : Whether you like to dine out or cook at home, you'll earn bonus points on restaurant and U. supermarket spending. Travelers also benefit from earning bonus points on flights booked directly with airlines or on Amextravel.

See rates and fees. See our methodology , terms apply. The Capital One Venture Rewards Credit Card is ideal if you're seeing an excellent intro bonus offer with a manageable spending requirement and a reasonable annual fee see rates and fees.

Standout rewards : This card earns bonus miles on hotels and rental cars booked through Capital One Travel , as well as an above-average return on all other purchases. Rewards can be redeemed at a fixed value or transferred to various airline and hotel partners. Enjoy 4. INTRO OFFER: Earn an additional 1.

Read our Chase Freedom Unlimited® review. The Chase Freedom Unlimited® Card , our top cash-back card , is ideal for anyone looking for a simple way to maximize cash back on everyday spending. Standout rewards : Cardholders earn bonus cash back on travel purchased through Chase Ultimate Rewards® , as well as on drugstores and dining at restaurants including takeout , plus an above-average return on all other purchases.

Read our Chase Sapphire Reserve® review. If you're a frequent traveler looking to make your flights and hotel stays more luxurious, the Chase Sapphire Reserve® should be on your radar. The points you earn with this card are worth 1. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.

com checkout. The Blue Cash Preferred® Card from American Express is a great choice for anyone who regularly spends big at grocery stores and gas stations. supermarkets per year. Cardholders also earn bonus cash back on transit and at U. gas stations. To earn cash back, pay at least the minimum due on time.

Read our Citi Double Cash® Card review. The Citi Double Cash® Card is a solid choice if you're looking to maximize your money without having to worry about rotating rewards categories or joining a credit union.

This straightforward rewards structure allows you to earn double what most cards offer on everyday purchases. Frequent shoppers on Amazon and at Whole Foods will want to look into the Prime Visa.

Standout rewards : All Prime Visa purchases you make at Amazon. Cardholders also get bonus cash back at gas stations, restaurants, on local transit and commuting including rideshare and on Chase Travel purchases. Member FDIC. Terms apply. You'll need to activate the categories to earn the bonus cash back.

In addition to rotating rewards, you can earn bonus cash back on travel booked through the Chase Ultimate Rewards® portal, dining and drug stores purchases. Read our Chase Sapphire Preferred® Card review. The Chase Sapphire Preferred® Card is a versatile card with a strong suite of benefits and a generous rewards program.

Standout rewards : Chase Sapphire Preferred Card members earn bonus points on travel, streaming services, online grocery purchases and dining. When you factor in how valuable Chase Ultimate Rewards points can be when you redeem them for travel, it places this card firmly in the conversation for the best travel credit card.

Read our Citi Simplicity® Card review. Standout rewards : The Citi Simplicity Card doesn't provide any rewards, but its intro-APR period for balance transfers is exceptionally generous.

The Wells Fargo Reflect® Card offers an unreasonably generous intro APR for both purchases and balance transfers. Discover will match all the cash back earned for all new cardmembers at the end of your first year. Read our Discover it® Student Cash Back review.

Unlike many student credit cards , the Discover it® Student Cash Back provides an opportunity to earn cash-back rewards while you're in college and building your credit history.

To qualify for the bonus cash back, you'll need to activate the new categories each quarter. Read our Discover it® Secured Credit Card review.

Secured credit cards provide an opportunity to grow or repair your credit score, so they typically don't offer rewards or other benefits. However, Discover it® Secured Credit Card is an exception. That's a nice return, but it's even better for the first year because Discover will match all of the cash back you earn for the first year.

If you need to relax, Capital One Savor Cash Rewards Credit Card earns cash back where it matters most. Standout rewards : Capital One Savor Cash Rewards card members earn bonus cash back on dining, entertainment , streaming services and at grocery stores.

No matter how you like to unwind, this card can make it more affordable. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.

Read our The Platinum Card® from American Express review. The Platinum Card® from American Express is a top-tier premium credit card , that's loaded with all sorts of perks.

Standout rewards : If you want access to airport lounges, the Amex Platinum card is hard to beat. Cardholders get access to Priority Pass lounges, American Express Centurion Lounges , Plaza Premium lounges, Lufthansa lounges, Escape Lounges and Delta Sky Clubs.

The American Express® Gold Card offers a stellar for dining, grocery and travel purchases, as well as statement credits that can almost entirely offset its annual fee see rates and fees. You'll get the most value from your Membership Rewards points when redeeming for travel through transfer partners.

com, Milk Bar and select Shake Shack locations enrollment required. Gold Card members can also participate in Amex Offers, which allow targeted cardholders to earn statement credits or bonus Membership Rewards® points at select retailers.

These limited-time offers are location-based and additional terms apply. The best way to use Amex points is to transfer them to an airline or hotel partner to book travel, but they can also be redeemed for statement credits, gift cards, and when checking out at retailers like Amazon.

The Capital One Venture Rewards Credit Card is a versatile and rewarding travel card with a welcome bonus that's worth taking a closer look at. Capital One miles can be used to book flights, hotels, rental cars and more directly through Capital One Travel , or to offset recent travel purchases at a fixed value of one cent per point.

Alternatively, they can be transferred to various hotel and airline partners including Accor Live Limitless, Air Canada Aeroplan, Etihad Guest and others to get even more value from your miles.

Refer to your Guide to Benefits for more details. The Chase Freedom Unlimited® Card earns a minimum of 1. Earn an additional 1.

Freedom Unlimited cardholders receive three free months of DoorDash DashPass , which comes with reduced fees activate by Dec. The Chase Sapphire Reserve® is loaded with luxury perks and valuable ongoing benefits that can easily make the annual fee worth it.

This is a good way to boost the value of your Chase points. You can also take advantage of one year of free DashPass activate by Dec. Anyone who prefers to earn cash-back rewards will want to consider the Blue Cash Preferred® Card from American Express.

Cardholders can also potentially save money on their purchases by taking advantage of Amex Offers. The Citi Double Cash® Card is a straightforward no-annual-fee cash-back card. After the intro period ends, there's a The Prime Visa has no foreign transaction fees, purchase protection and extended warranty protection.

It also has valuable travel insurance including, baggage delay insurance, lost luggage reimbursement and rental car coverage. Cardholders can also enroll for three complimentary months of DashPass activate by Dec. The Chase Sapphire Preferred® Card is an incredibly flexible travel rewards credit card that comes with useful travel and shopping protections, plus a modest annual fee.

If you earned 50, points from purchases, at the end of that year you'd receive a 5,point bonus. Cardholders can also enroll to receive one year of free DashPass membership activate by Dec.

The Citi Simplicity® Card doesn't offer any rewards but can help you pass less credit card interest. The Wells Fargo Reflect® Card is hard to beat if you want to pay less interest and pay down credit card debt faster.

The amount your rewards are worth can vary by program. Cash-back cards are the most straightforward since you receive a percentage of your spending back. A 2% The bottom line. Though credit card rewards have their pros and cons, applying for a credit card that offers rewards is generally better than Read Forbes Advisor's guide to the best rewards credit cards tailored for the way you spend— whether it's cash back, points or miles

Rewarding credit card features - Cash-back cards pay you back a percentage of the amount of each transaction. Travel rewards credit cards give you points or miles for each The amount your rewards are worth can vary by program. Cash-back cards are the most straightforward since you receive a percentage of your spending back. A 2% The bottom line. Though credit card rewards have their pros and cons, applying for a credit card that offers rewards is generally better than Read Forbes Advisor's guide to the best rewards credit cards tailored for the way you spend— whether it's cash back, points or miles

It is always advisable to call an individual company and make sure that the card offers insurance before renting a car. Many credit cards offer other insurance that makes payments on behalf of the cardholder in the event they are unable to make payments because of loss of income.

There have been judicial actions by the Consumer Financial Protection Bureau CFBP for unethical practices in the sales and distribution of these insurance policies, including multimillion-dollar fines levied against Discover and Capital One.

American Express. Best Buy. Consumer Financial Protection Bureau. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies.

Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests.

You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings , which can also be found in the footer of the site.

Table of Contents Expand. Table of Contents. Credit Card Reward Programs. Understanding Different Programs. Air Travel Miles. Cash Back on Purchases. Introductory Rate Period.

Discounts or Gift Cards. Insurance on Rental Cars. Personal Finance Credit Cards. Trending Videos. What Are Credit Card Reward Programs? Key Takeaways Credit card rewards programs can be attractive incentives to sign up for particular cards, but it's important to consider all a card's features, terms, and conditions before signing up.

Cash back on purchases, which offers a certain percentage back as a credit on your statement, is a popular rewards program.

Travel discounts are another common credit card rewards program. Airline miles, hotel or timeshare credits, and rental car discounts are all common incentives. Other cards may offer very specialized rewards programs, like cryptocurrency rewards, gift cards, or discounts at specific retail chains.

Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.

Anyone who prefers to earn cash-back rewards will want to consider the Blue Cash Preferred® Card from American Express. Cardholders can also potentially save money on their purchases by taking advantage of Amex Offers. The Citi Double Cash® Card is a straightforward no-annual-fee cash-back card.

After the intro period ends, there's a The Prime Visa has no foreign transaction fees, purchase protection and extended warranty protection. It also has valuable travel insurance including, baggage delay insurance, lost luggage reimbursement and rental car coverage.

Cardholders can also enroll for three complimentary months of DashPass activate by Dec. The Chase Sapphire Preferred® Card is an incredibly flexible travel rewards credit card that comes with useful travel and shopping protections, plus a modest annual fee.

If you earned 50, points from purchases, at the end of that year you'd receive a 5,point bonus. Cardholders can also enroll to receive one year of free DashPass membership activate by Dec.

The Citi Simplicity® Card doesn't offer any rewards but can help you pass less credit card interest. The Wells Fargo Reflect® Card is hard to beat if you want to pay less interest and pay down credit card debt faster.

If you pay your monthly cell phone bill with this card, you can qualify for cell phone protection. The Discover it® Student Cash Back card is an unusually rewarding credit card for students. You'll need to be an eligible student to qualify for this card, but it is available even if you have poor credit or a limited credit history.

Students traveling overseas can take advantage of no foreign transaction fees. The Discover it® Secured Credit Card is easier to qualify for because it requires an upfront deposit. Plus, it has a generous rewards structure for a secured credit card. However, after seven months, Discover will automatically review your account to see if you qualify for an upgrade to an unsecured credit card.

This card has no foreign transaction fees. The Capital One Savor Cash Rewards Credit Card is one of the most rewarding options for earning cash back in categories such as entertainment and dining. Through Nov. This card also has no foreign transaction fees and grants you access to exclusive events and experiences through Capital One Entertainment and Capital One Dining.

The Platinum Card® from American Express is a premium credit card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. On top of excellent airport lounge access, cardholders can enroll for Marriott Bonvoy Gold status, Hilton Honors Gold status and rental car perks with National, Avis and Hertz.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress. Rewards credit cards come in all shapes and sizes, so it's important to take some time to choose the card that best matches your spending habits.

You want a card that will reward you for your everyday purchases without having to adjust your spending to maximize card rewards. You should decide if you're willing to pay an annual fee for a card since this can help narrow down choices. Make sure you do the math to see if an annual fee is within your budget and if it can be outweighed by the card's benefits.

Don't want to pay your credit card's annual fee? Here's how to ask for a retention offer. Next, you should figure out what type of rewards you want to earn and if you want a simple rewards program or one that may require some work.

If you want a straightforward card, some generic rewards cards offer the same amount of rewards on all purchases, which require little planning. Here's how credit card issuers classify purchases for bonus rewards.

It's also a good idea to consider the card's welcome offer. Some of the best rewards credit cards come with large welcome bonuses for new cardholders worth hundreds of dollars.

Learn more: How to choose the best credit card in 3 easy steps. There are several different kinds of rewards cards. Rewards credit cards typically provide one of three reward structures: cash back, points or miles. The way you earn and redeem rewards varies based on the type of credit card you open.

In addition to the value of cash back, points and miles varying, redemption options also fluctuate.

You may be able to redeem for a statement credit, travel, gift card, merchandise or more, depending on the card you have. To make the most of your rewards card, you should familiarize yourself with the benefits and fees.

Take note of any annual fees and the APR associated with your account, as well as the rewards rates and added perks, such as annual statement credits. Once you're familiar with the terms of your card, you can start to take full advantage of them. If you have multiple credit cards , consider the rewards offered by each card before deciding which to use.

Let's say you have the Citi Double Cash® Card and Chase Sapphire Reserve®. Finally, pay attention to reward values when choosing redemption options. While rewards on cash-back credit cards maintain consistent value no matter how you spend them, that's rarely the case with travel rewards credit cards.

Often, travel rewards are worth less if redeemed on non-travel purchases. On the other hand, if you transfer your rewards points or miles to one of the eligible loyalty programs your card issuer partners with, you can sometimes increase the value of your points. A rewards credit card lets you earn cash back, points or miles when making purchases with that card.

Beyond rewards, these cards sometimes come with additional perks like travel and purchase protections. Whether a rewards credit card would be a good addition to your wallet depends on whether it fits your spending habits and how you're going to use it. For example, if you're going to carry a balance, even the best rewards credit cards won't be worth it for you.

High interest rates will negate the value of any rewards that you earn. Secondly, think about how complex you want your credit card strategy to be. If you find chasing the best value exciting and don't mind putting some thought into managing your cards, a rewards card with bonus rewards or rotating categories may be a good fit.

If that sounds too complicated, you might do better with a flat-rate rewards card earning the same cash-back rate on everything you buy. Finally, ensure that the card's bonus categories match your everyday spending.

If groceries are a big part of your family's budget, you might want to get a card that earns an elevated rewards rate at grocery stores.

If you have a long daily commute, it may be a good idea to apply for a credit card that offers bonus rewards at gas stations. Consider perks and benefits as well since they may increase the card's value. This may be an especially important factor if you're looking into cards with annual fees.

All in all, if a rewards credit card matches your spending habits and offers perks you can easily take advantage of to offset the annual fee, that card may be worth it for you.

At the very least, if you don't ever carry a balance and treat spending on a credit card as you would a debit card, using a no-annual-fee cash-back card would give you rewards for the spending you were already going to do anyway. If you pay for purchases with cash or debit, you're leaving extra money on the table.

This is a large amount of money that can help offset the cost of past purchases or fund upcoming expenses. Note, however, that using a rewards card only makes sense if you pay off your credit card bill in full every month.

Otherwise, you'll be hit with interest charges. Not even the most generous rewards rates can offset the high APRs of credit cards.

For that reason, if you tend to carry a balance, you might want to reevaluate your card spending habits before applying for a new card.

Additionally, rewards credit cards often require good or excellent credit FICO scores above , so check your credit score before applying for one of these cards. And if your credit score could use some work, consider CNBC Select's list of the best credit cards for bad credit.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products.

While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

See our methodology for more information on how we choose the best rewards credit cards. To determine which rewards credit cards offer the best value, CNBC Select analyzed of the most popular credit cards available in the U.

that offer rewards programs, from cash back to points and miles. We compared each card on a range of features, including rewards, welcome bonus, introductory and standard APR, balance transfer fees and foreign transaction fees, as well as factors such as required credit score and customer reviews when available.

We also considered additional perks, the application process and how easy it is for the consumer to redeem points. Select teamed up with location intelligence firm Esri.

The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here. General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.

CNBC Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases.

All rewards total estimations are net the annual fee. It's important to note the value of a point or mile varies from card to card and based on how you redeem them. Extreme optimizers might be able to achieve more value. Our final picks are weighted heavily toward the highest five-year returns since it's generally wise to hold onto a credit card for years.

This method also avoids giving an unfair advantage to cards with large welcome bonuses. While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits.

Catch up on CNBC Select's in-depth coverage of credit cards , banking and money , and follow us on TikTok , Facebook , Instagram and Twitter to stay up to date.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. For rates and fees of the American Express® Gold Card, please click here.

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here. For rates and fees of The Platinum Card from American Express®, please click here.

Information about Amazon credit cards has been collected independently by Select and has not been reviewed or provided by the issuer prior to publication; if you purchase something through Select links, we may earn a commission.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

Skip Navigation. Credit Cards. Follow Select. Our top picks of timely offers from our partners More details.

Choice Home Warranty. National Debt Relief. LendingClub High-Yield Savings. Freedom Debt Relief. UFB Secure Savings. Select independently determines what we cover and recommend.

We earn a commission from affiliate partners on many offers and links. Read more about Select on CNBC and on NBC News , and click here to read our full advertiser disclosure.

Learn More. On the American Express secure site. Rewards 4X Membership Rewards® points at Restaurants plus takeout and delivery in the U. Uber Eats orders and U. Uber rides card must be added to Uber app to receive the Uber Cash benefit Strong rewards program with 4X points earned at restaurants and 3X points earned on flights booked directly with airlines or amextravel.

View More. On Capital One's secure site. Rewards 5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase. On Chase's Secure site. Rewards Enjoy 4.

Sign up here. Cash-back cards are the most creditt since you receive a percentage of Rewadding spending credot. Experian and the Experian Quick cash loans used herein are trademarks or registered trademarks of Experian and its affiliates. On a similar note Redemption options While the value of rewards varies between programs, redemption options are often similar. Finally, ensure that the card's bonus categories match your everyday spending. Schedule an appointment to apply in person. The best rewards credit cards of February 2024

Video

The BEST Credit Cards for CashBack Rewards In 2024

Related Post

1 thoughts on “Rewarding credit card features”

Добавить комментарий

Ваш e-mail не будет опубликован. Обязательные поля помечены *