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Credit cards have become integral to our financial lives, offering convenience and security of payments without carrying cash. Credit cards offer more than just a convenient payment method and can also be a powerful tool for earning rewards and maximizing your spending.
However, many credit cardholders need to realize the full potential of their cards when it comes to earning rewards. You may be missing out on significant savings and exclusive perks by overlooking these rewards. You may be able to get free family vacations or be eligible to earn money back on your purchases, and much more.
This article will explore 15 credit card rewards you might need to take advantage of and how to leverage them to your advantage. Let’s dive in to learn more.
15 Little Known Credit Card Rewards Millionaires Are Using
- Cash Back
- Travel Rewards
- Airline Miles
- Hotel Points
- Dining Rewards
- Grocery Rewards
- Gas Rewards
- Entertainment Rewards
- Shopping Rewards
- Online Shopping Portals
- Welcome Bonuses
- No Foreign Transaction Fees
- Travel Insurance
- Purchase Protection
- Concierge Services
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Cash backs are one of the most popular and straightforward forms of credit card rewards. Many cards offer a percentage of your purchases back as cash, allowing you to earn money on everyday expenses. It would be best to compare these offerings before getting the credit to get the maximum benefits.
If you love traveling, you could miss out on valuable travel rewards. Travel credit cards often provide points or miles that can be redeemed for flights, hotel stays, rental cars, and other travel-related expenses, enabling you to turn your everyday spending into dream vacations. Frequent travelers can save considerably on their voyages.
Frequent flyers should consider airline credit cards that allow them to earn airline miles every time they travel or make purchases on the credit card. These miles can be used for free or discounted flights, upgrades, access to airport lounges, and more. All the little perks that can spice up your air travels.
Like airline miles, hotel credit cards allow you to accumulate points through purchases and stays at their locations that can be used for free nights, room upgrades, and other hotel-related benefits in the future. Maximize your hotel stays in qualifying locations and turn them into rewarding experiences.
Eating out can be more rewarding than you think. Certain credit cards provide bonus rewards for dining at restaurants or ordering takeout, allowing you to earn cash back, points, or miles while savouring delicious meals.
Your trips to the supermarket could be an opportunity to earn rewards. Credit cards with grocery rewards offer cash back or points on your grocery purchases, helping you save on everyday essentials. Try to get cards with no annual fees and better cashback rates.
If you have a gas guzzler, consider a credit card that offers rewards for fuel purchases. You can earn cash back or points whenever you fill your tank. There are plenty of options to choose from. Try to get a card with zero or minimal annual fees, a decent cashback rate, and a lower APR.
Do you enjoy concerts, movies, or sporting events? Some credit cards offer rewards specifically tailored for entertainment expenses. Use these cards to earn discounts, cash back, or exclusive event access. The rewards for different kinds of expenses may vary. Also, remember that the best cards are available only to people with good or excellent credit scores.
Credit cards affiliated with specific retailers or brands can offer rewards and discounts when you shop with them. Capitalize on these opportunities to earn cash back, points, or access to limited-time promotions. Such cards are ideal if you love to shop at a particular store or in a particular segment. If you love DIY projects, a home improvement store card will be perfect for you.
Online Shopping Portals
Make the most of your online purchases using credit cards and online shopping portals. When shopping through their platforms, these portals often provide additional rewards, such as increased cash back or bonus points. Just be sure to read the fine print before ordering.
Many credit cards entice new cardholders with generous welcome bonuses. These bonuses often come in cashback, points, or miles after meeting specific spending requirements within a certain time frame. They will also offer no card fees for the first year and zero or minimum APR for a few months. These are all good options but pay special attention to these fees and rates in the long run to avoid unwanted surprises.
No Foreign Transaction Fees
For frequent international travelers, credit cards with no foreign transaction fees are essential. These cards can save you money by eliminating the additional fees typically charged for purchases made in foreign currencies. If you travel overseas a lot, this is an ideal money-saving feature for you.
Certain credit cards provide travel insurance coverage, including trip cancellation/interruption, baggage delay, and rental car insurance. These benefits provide peace of mind and save you money on travel-related expenses. You can always check with your credit card service provider if they offer something similar.
Some credit cards offer purchase protection, which can reimburse you if an eligible item you bought with the card is stolen or damaged within a specific time frame. This coverage can be valuable, especially for expensive purchases.
Premium credit cards often provide access to concierge services that can assist with travel arrangements, ticket bookings, restaurant reservations, and more. These services can enhance your travel and lifestyle experiences. You will likely be charged an annual fee and must have an amazing credit score for these services in most cases.
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