Unveiling the Perks of Reward Credit Cards: A Comprehensive Guide

Feb 21
18:08

2024

Jagan babu vasudevan

Jagan babu vasudevan

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Reward credit cards have become a staple in the financial toolkit of savvy consumers, offering a plethora of benefits ranging from cash back to travel perks. As financial institutions vie for customers, they roll out increasingly enticing reward programs. In the United States, major global banks have introduced a variety of reward credit cards, each with its unique set of advantages. Let's delve into the specifics of these offerings, highlighting the key features that make them stand out in the competitive landscape of credit card rewards.

Platinum Business FreedomPass Credit Card from OPEN(sm) the Small Business Team

  • Welcome Bonus: 5,000 points after first purchase
  • Earning Potential: 1 point per dollar spent
  • Redemption Options: Flights,Unveiling the Perks of Reward Credit Cards: A Comprehensive Guide Articles hotels, car rentals, cruises with no blackout dates or travel restrictions
  • Additional Benefits: OPEN Savings® discounts with partners like FedEx, Delta®, Courtyard by Marriott®
  • Fees: No annual fee, 0% intro APR for 12 months

BoatU.S.™ Platinum Plus® Visa® Card

  • Introductory Offer: 0% APR on balance transfers and cash advance checks for the first 12 billing cycles
  • Earning Rate: 1 point per net retail purchase dollar
  • Redemption Choices: Travel, merchandise, gift certificates, cash
  • Exclusive Services: Access to MyConciergeSM service
  • Security: Absolute fraud protection
  • Fees: No annual fee

Discover® Motiva Card

  • Unique Feature: Pay-On-Time bonus equal to a full month's interest for 6 on-time payments in a row, twice a year
  • Cashback: 5% to 20% at top online retailers, up to 1% on all other purchases
  • Rewards: Unlimited cash rewards with no expiration
  • Fees: No annual fee

The Knot Credit Card from American Express

  • Welcome Gift: 5,000 Membership Rewards points after first use, redeemable for a $50 gift card
  • Bonus Points: Additional 10,000 points for annual spending over $15,000
  • Wedding Expense Tracking: Dedicated monthly statement for wedding-related expenses
  • Fees: No annual fee, 12.24% intro APR, no intro period

Financial Rewards® Visa® Platinum Plus® Card

  • Introductory Offer: 0% APR on purchases and balance transfers for the first 6 billing cycles
  • Bonus: 5 points with first purchase, points valid for 5 years
  • Online Services: Online banking and total security protection
  • Fees: No annual fee

Blue from American Express®

  • Rewards Program: Fee-Free Rewards Program
  • Introductory APR: 0% for up to 15 months
  • Balance Transfer APR: 4.99% Fixed APR for the life of the balance
  • Fees: No annual fee

Citi® Upromise® Platinum Select® MasterCard®

  • Introductory Offer: 0% Intro APR for 12 months
  • College Savings: Up to 10% on grocery/drug store purchases, 2% on Exxon and Mobil gas, 1% on all other purchases
  • Fees: No annual fee

Citi® Home Rebate Platinum Select® MasterCard®

  • Rebate: 6% on utilities, cable/satellite TV, internet, telecommunications for 6 months; 1% on all other purchases
  • Rebate Application: Automatically applied to mortgage principal
  • Fees: No annual fee, 0% Intro APR for 12 months

Citi® Driver's Edge® Platinum Select® Card

  • Rebates: For every mile driven, plus 6% on gas station, supermarket, and drugstore purchases for 12 months; 3% after, 1% on all other purchases
  • Redemption: Car maintenance, or to buy or lease a new or used car
  • Fees: No annual fee, 0% Intro APR for 12 months

Citi® Platinum Select®/AAdvantage® World MasterCard®

  • Miles: 15,000 Bonus Miles after first purchase, earn one mile per dollar on eligible purchases, up to 100,000 miles per year
  • Travel: No blackout dates on American Airlines, redeem miles with over 25 airlines, car rental companies, and hotels
  • Fees: No annual fee, 18.24% Intro APR

Citi® Diamond Preferred® Rewards Card

  • Gift Card: $50 after redeeming 6,000 Bonus Points from first purchase
  • Earning Rate: 5 bonus points per dollar at supermarkets, drugstores, gas stations for 12 months; 1 point per dollar on all other purchases
  • Fees: No annual fee, 0% Intro APR for 12 months on balance transfers

Citi® Hilton HHonors® Visa® Signature Card

  • Points: 15,000 HHonors Points with first purchase, earn 3 points per dollar at Hilton Family Hotels, 2 points on other purchases
  • Membership: Complimentary silver VIP for the first year
  • Fees: No annual fee

The Chase Business Cash Rewards Card

  • Cash Back: Up to 5%, unlimited rewards potential
  • Flexibility: No merchant or category restrictions
  • Introductory APR: 0% on purchases and balance transfers for up to 12 months
  • Fees: No annual fee

TripRewards® MasterCard® Credit Card

  • Introductory APR: 0% on balance transfers and cash advance checks for the first 12 billing cycles
  • Earning Rate: 2 points per $1 on net retail purchases, 13 points per $1 on TripRewards hotel stays
  • Fees: No annual fee

Advanta Platinum BusinessCard with Rewards

  • Introductory Offer: 0% APR for 15 months on balance transfers, 7.99% fixed APR thereafter
  • Rewards: Choice of 5% Cash Back or Travel Rewards, no earnings limit
  • Security: $0 Fraud Liability
  • Fees: No annual fee

American Express® Preferred Rewards Gold Card

  • Bonus Points: 10,000 Membership Rewards® points after first use
  • Spending Limit: No pre-set limit
  • Exclusive Events: Access to Gold Card events
  • Fees: No annual fee for the first year, $125 thereafter

American Express® Preferred Rewards Green Card

  • Bonus Points: 5,000 Membership Rewards® points after first use
  • Transfer Options: Points to 11 frequent flyer programs
  • Travel Assistance: Global Assist® Plus Hotline
  • Fees: No annual fee for the first year, $95 thereafter

One from American Express®

  • Interest-Free Purchases: No interest on new purchases
  • Savings Plan: Savings AcceleratorSM Plan contributes 1% of purchases to a High-Yield Savings Account
  • Fees: No annual fee for the first year, $35 thereafter

Bank of America Rewards™ American Express® Card

  • Introductory APR: 0% on balance transfers and cash advance checks for the first 12 billing cycles
  • Redemption Options: Travel, hotel discounts, cash, merchandise, gift certificates
  • Concierge Service: Free 24/7 service
  • Fees: No annual fee

Business Green Rewards Card from OPENSM The Small Business Team

  • Bonus Points: 5,000 points to start
  • Earning Rate: One point per dollar spent
  • Discounts: With FedEx, Delta®, Courtyard by Marriott®
  • Fees: No annual fee for the first year, $95 thereafter

Platinum Business FreedomPass® Credit Card

  • Welcome Bonus: 5,000 points with first purchase
  • Redemption Options: Flights, hotels, car rentals, cruises with no blackout dates or restrictions
  • Fees: No annual fee, 0% Intro APR for 6 months

IN:CHICAGOSM Card from American Express®

  • Earning Rate: One INSIDESM Rewards point per eligible dollar spent
  • Redemption Cities: Chicago, New York, Los Angeles
  • Fees: No annual fee, 0% Intro APR for 6 months

IN:LASM Card from American Express®

  • Earning Rate: One INSIDESM Rewards point per eligible dollar spent
  • Redemption Cities: Los Angeles, New York, Chicago
  • Fees: No annual fee, 0% Intro APR for 6 months

IN:NYC® Card from American Express

  • Earning Rate: One INSIDESM Rewards point per eligible dollar spent in New York City
  • Redemption City: New York
  • Fees: No annual fee, 0% Intro APR for 6 months

Chase Flexible Rewards Platinum Visa® Card

  • Earning Rate: 1 point per dollar spent
  • Introductory APR: 0% for up to 12 months on all purchases and balance transfers
  • Fees: No annual fee

Chase Travel Plus Platinum Visa®

  • Miles: 1 mile per dollar in purchases
  • Redemption Options: Flights, hotel stays, car rentals, cruises
  • Introductory APR: 0% for up to 12 months on purchases and balance transfers
  • Fees: $29 annual fee

Discover® More Sealife Card

  • Cashback: 5% on Get More purchases in categories that change quarterly, up to 1% on all other purchases
  • Introductory APR: 0% for 12 months on purchases and balance transfers
  • Fees: No annual fee

Bank of America Visa Signature® with WorldPoints™

  • Earning Rate: 1 point per dollar in net retail purchases
  • Redemption Options: Cash, merchandise, travel, dining certificates
  • Visa Signature Benefits: Preferred seating, dining reservations, merchant discounts, concierge service
  • Fees: No annual fee, 0% APR for 12 billing cycles

Pet Rewards™ Visa®

  • Bonus Points: 500 after first purchase
  • Earning Rate: 1 point per dollar on everyday purchases, 2 points at participating pet-related stores
  • Redemption Options: Veterinary services, pet food discounts, shelter donations
  • Fees: No annual fee, 0% Intro APR for six billing cycles

2% Back MasterCard

  • Cashback: 2% on every purchase
  • Account Management: 24/7 online access and bill pay
  • Payment Flexibility: Choose a convenient due date
  • Security: 100% fraud liability protection
  • Fees: 0% Intro APR

Discover® Business Miles Card

  • Introductory Offer: 0% APR for 12 months
  • Miles: Double Miles on travel and gas, 1 Mile per dollar on all other purchases
  • Travel Flexibility: No restrictions on airline, date, or seat
  • Fees: No annual fee

Chase Freedom Cash

  • Cashback: 3% on purchases at grocery stores, gas stations, quick service restaurants; 1% on all other purchases
  • Rewards: $50 check after earning $50 in rewards
  • Introductory APR: 0.05 for 6 months
  • Fees: No annual fee

Reward credit cards offer a diverse range of benefits tailored to different spending habits and lifestyle needs. From travel enthusiasts to small business owners, there's a card that caters to every type of spender. It's important to consider the fees, introductory offers, and the rewards earning and redemption rates when choosing a card that aligns with your financial goals.

For more detailed information on credit card rewards and how they can benefit you, visit the Consumer Financial Protection Bureau or check out the latest credit card statistics to stay informed on trends and consumer behavior.

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