Compare Rewards Credit Cards

How to compare Rewards credit cards

Rewards cards can offer any number of different types of rewards, from flights and travel, to merchandise, vouchers and cash back. Most major reward programs have a huge amount of reward options. If you spend frequently on your credit card, then this type of card could be a great choice for you.

With a rewards card, you will earn points for the purchases you make on the card. Different purchases at different retailers will earn different amounts of points, and each rewards card will have different specifications.

One of the most important things to think about when choosing a rewards card is where you can earn points. To make the most of this type of card it is best to choose a card that rewards you for the kind of spending you do most. If the card only offers points for purchases you don't usually make, (i.e. petrol) then it will be difficult for you to earn points.

The next thing to think about is what rewards you will receive. Choose a card that offers rewards that you want and need. Make sure that the rewards are accessible as well. Checking your points total, seeing what rewards are on offer, and claiming rewards should be easy to do, like using an online store.

Take a look at some of the factors you should be comparing when choosing a rewards card.

Rewards Offered:

Choose a card that gives you the reward options that you want.

How Points are Earned:

Try to choose a card that rewards you for your usual spending habits or you will find it difficult to earn points.

Point to Dollar Value:

Check how many points you will earn per dollar, as well as how much you will get back when the points are redeemed.

Points Capping and Expiry:

Try to choose a card with no points capping if you want to earn as many points as possible. It's best to choose a card with no points expiry, as this means your hard-earned points will not disappear if you don't use them.

Introductory Bonus Points:

Many rewards cards offer bonus points for signing up. Check closely, as there may be a catch. You may have to spend a certain amount within a given time period, or you may have to spend with a particular retailer in order to be eligible for the points.

Gold and Platinum Options:

Many rewards cards are available in Gold and Platinum options. These cards offer more features, such as complimentary insurances, a higher potential for points earning, and concierge services. You will need a high income and a good credit history. You may also find that annual fees on these cards are higher, so make sure you need the extras that are on offer.