types of credit card rewardsUpdated: May 2, 2019

Many benefits may come to mind when you think of credit cards and what they offer, including the convenience they provide, the credit history they build, the extra protection cardholders get and more. But when you’re ready to apply for a new credit card, it’s a good idea to consider the types of rewards a card may offer in addition to the benefits we previously noted. That’s because many cards are famously known for the big rewards they can earn cardholders, and it’s beneficial to pick a card that lets you earn the types of rewards that satisfy your needs and lifestyle. To prevent you from drowning in research about the types of credit card rewards, we’ve broken down the 3 kinds of rewards you can earn with credit cards. Keep reading to learn about these rewards and how they could benefit you.

Cash back

Earning money back for everything you buy can seem too good to be true, but cash back credit cards enable you to do just that. By using a cash back credit card, you can earn a percentage of cash back on every purchase made with the card. Since different cash back credit cards offer different cash back rates, the key to getting the most from your cash back card is to use it on the purchases that will earn you the most. Some cards offer a flat cash back rate (e.g., 1.5% cash back on all purchases), meaning they’ll earn strong rewards on all purchases, while others offer cash back for certain types of purchases. For example, if a credit card earns 3% on groceries, you’ll want that to be your go-to card at the grocery store. On top of being able to earning cash back, these cards usually also offer intro bonus or 0% intro APR opportunities, depending on the card you get. Visit our cash back credit card reviews to find the right cash back card for your needs.

Travel

If you’ve caught the wanderlust bug or find that being airborne is becoming your norm, a travel credit card could loosen a strict travel budget and facilitate your adventures. That’s because travel credit cards give cardholders the chance to earn miles or points that can be redeemed for many things related to travel, including flights, hotel accommodations and more. Not sure where to start? Our travel credit card reviews can help you find the right travel companion.

Points

When people think of credit cards that offer points, often rewards credit cards are the first that come to mind. These cards allow you to earn rewards that come in the form of points that can be used for travel (e.g., hotel accommodations, flights), cash back and more. As an added perk, a number of the best rewards cards also come with low intro APR periods. Similar to the previously mentioned cards, rewards credit cards usually offer an intro bonus, a 0% intro APR period or a combination of the two. If you’re looking for a card that earns points, our rewards credit card reviews can help.

While we’ve noted 3 rewards you can earn with a credit card, we should note that some cards offer other perks to fit your needs, like a low APR on purchases or a 0% intro APR on balance transfers. Want to learn more about the types of credit card rewards and credit cards that are best for you? Visit our credit card reviews for more information.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.