The Best Credit Cards For Shopping are the ones that have the most perks and rewards. Some offer free airmiles, cash back, gift cards for restaurants and hotels, etc. Some also offer special offers on their cash back rewards when you make purchases at certain retailers. And of course there are the membership cards, which allow you to earn points or bonuses based on how much you spend.
Now it’s easy to see which ones offer the best deals. But what is more important is to find out how those deals can benefit you the most. That means understanding how cash back and reward programs work. To understand this you need to know the three types of rewards programs. Then you can decide which type suits you best.
First, there are the rewards programs where you earn points or bonuses based on the amount of purchases you make. For example if you use your card to pay for gas, you earn a point each time you do so. If you use your card to buy groceries, you earn another point for every dollar spent. And if you use your card to buy an airline ticket, you earn 5 percent back credit or other benefits for future purchases. A good example of this type of program would be the Air Force Association card.
Next, there are the cash back and rebate programs. With these types of programs, you get paid in cash or your regular credit rate after you make your purchases. For example, the Starwood Preferred Rewards program allows you to earn up to two percent back on the purchase of select rooms, suites, or properties, and certain restaurants. Most major hotels also participate in this program.
And last, there are the airline rewards programs. The top ones are Discover, Chase, and Travelocity. These give you cash or air miles depending on the airline, as well as cash back or discount cards. For example, the Discover airline card is designed to let you earn fiveX points for every dollar you charge, or receive threeX points for shopping at their stores. And the Chase Ultimate Rewards card from their bank charges low annual fees, has no annual fee, and gives you cash back on your cash purchases and airline miles for dining at their restaurants.
If you don’t have any credit card rewards or cash back programs, don’t worry. You can still get the same benefits by shopping at the same place. For example, Target offers partner programs with many different retailers including Kohls, BP, Wal-Mart, K-Mart, and Sam’s Club. All you need to do is visit their website, find the participating store, and apply for their incentive cards. They will give you a credit card, which you can use to make your everyday purchases. In return, they will reward you with cash, gas, or air miles.
If you really want to earn some rewards, try shopping in their other rotating categories. Some of them include: gasoline, pet care, household goods, kids’ toys, and groceries. Just as Target gives you a card that you can use to make everyday purchases, so does Wal-Mart. They have gasoline rewards, and they give you cash back when you shop at their groceries. And Target and Kohls give you a percentage of your gas purchase back if you are a member of their customer service center.
There are so many different incentives available, and they are not required to be a line of credit. However, you do have to meet certain spending requirements before you can cash back or receive any cash value. Once you meet the requirements, you will receive a new card that allows you to make unlimited purchases in the rotating categories mentioned above, along with one free night’s hotel stays in the participating hotels.
