- $150 cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
- All 30 team cards are available, customized with your favorite team's colors and logo
Whether it's points, miles or cash back, a great rewards card puts extra money in your pocket. Keep in mind that these cards generally require a good to excellent credit rating for approval and often come with a higher interest rate. If you carry a balance month-to-month, you'll probably end up paying many times over in interest what you get back in rewards.
According to statistics, 45% of Americans make the reward card as their first choice when they want to apply for a new credit card. If you choose carefully and take care to avoid potential pitfalls, you can benefit greatly from rewards credit cards, and even use them to help improve your credit scores.
With some cards, you will earn one point for every dollar spent. However, some reward credit cards offer a higher rate for a particular category or merchant, or a higher yield after you spend a certain amount. Rewards programs can be a great way to save money, especially for a vacation or the holiday season. Many cards will attract new customers with a sign-up bonus.
Additional sign-up bonuses and benefits
Many reward cards attract new customers with a sign-up bonus.
Many types of rewards credit cards have customer protection, including return protection and price protection. Some reward cards have extended return protection, providing a 60- to 90-day return period over the typical 30-day return period for the original merchant for most purchases made with the card.
Some cards provide price protection by refunding consumers the difference if they make a purchase and later identify another merchant that sells the same item at a lower price with a period of time.
The issuer will review your personal credit history when determining whether to approve your credit card and what terms you are eligible for. Responsible past use of credit will maximize your chances.
You can apply for a store credit card online, in banks or by email depending on the card. And you just need to fill in your personal information and submit your application. The credit card issuer will consider your credit reports and several different factors when reviewing your application to get an idea of your creditworthiness.
This will give you an idea of how you can earn rewards, when rewards will post and other information.
Take advantage of sign-up bonuses
Many reward credit cards provide sign-up bonuses, please remember to take advantage of sign-up bonuses before they expire.
Focus your spending
It is easy to become impulsive in getting rewards. The more credit cards you use, the less reward you accumulate on each credit card. Concentrate your spending on a single card that offers the best value in the category you spend the most, instead of spacing your shopping across multiple cards and it's hard to really help you to get enough rewards on one card.
Maximize your rewards
Reward credit cards offer many ways to help you to save money on everyday items and big-ticket purchases. Keep an eye out for earning double or triple rewards opportunities. In addition, you need to know when your reward points will expire.
Buying a gift card
Card issuers offer many different options for cardholders to redeem their rewards points. Gift cards are one of the most popular ways, because of their features of flexibility and point-to-dollar value. Some cards offer extra rewards when cardholders buy a gift card through retail partners.
Know when your rewards points expire
Remember to check the fine print in your credit card agreement carefully and note when your rewards points will expire. Some credit cards allow cardholders to buy points back after they expire, but we recommend you to use them on time.
Pay your bill in full on time
Rewards credit card provide rewards program, but tend to have higher interest rates. If you carry a balance, your interest charge may be more than your rewards. Therefore, we recommend you to pay the bill in full on time in order to avoid paying high interest.
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