The basic function of credit cards is to give you access to a limited amount of credit, which you can spend and then pay back when your monthly bills comes in. However, if you compare credit cards available at the moment, you’ll find that many offer so much more than this. So, if you only have a standard credit card and you want to get more from your spending, you might want to read on.
Common credit card perks
The following are just a few of the perks, benefits and bonuses offered by rewards credit cards currently on the market:
• Cashback. This is one of the most widely available credit card perks, and it can also be considered one of the best. It works by giving you a pre-agreed percentage in cashback on your spending. The amount you will get may vary from retailer to retailer, so you might get 1% on groceries and 2% on fuel, for example. Cashback is a great perk, as you can earn money back simply by doing your normal spending, which automatically makes all of your purchases cheaper.
• Loyalty points. Rather than giving you cashback, some rewards cards allow you to collect loyalty points on your spending. These points can then be used at certain stores, and most of the big credit card companies have hundreds to choose from. This is essentially the same as cashback, expect that you have slightly less freedom in where to use your rewards.
• Travel rewards. Credit cards offering travel rewards usually give you points every time you spend, which can then be turned into everything from frequent flyer miles to complimentary hotel nights and upgrades.
• Discounts at certain retailers. Some credit cards offer you a percentage discount for using your credit card at a particular retailer, or a chain of stores owned by the same retailer. These discounts can be quite impressive, but you should go for these credit card perks if you actually shop at the store regularly and can use the discount.
• Support for a charity or favorite organization. For those who want to give a little something back, there are credit cards which help you to support your favorite charity, organization or school as you spend. For example, when you make a purchase on your credit card, a percentage of what you spend might be put towards supporting your children’s school, a chosen charity or a local sports team.
Dianna @ oyveyaday says
Thanks for breaking this down. It really is crazy these days with all of the different offers out there.
jopb says
I use the cash back , but I haven’t looked into the discounts at retailers perks. Thanks for the information.
Texas Type A Mom says
I have a cash back credit card and I need to be more vigilant about ensuring I activate the upcoming quarter’s promotions so I don’t miss out on potential cash back.
Sheri says
Great post. We avoid using credit cards but the perks make it tempting.
Pixystik4U says
thanks for the advice. i have a Discover and its pretty neat. i also have a travel cards that earns points
Rachel says
We use the discounts all the time.
ann says
I dont actually have or ever wanted any credit cards but all these things are nice to know if I decide I ever needed one. There are so many different ones that offer different things so it would be a wide choice I think. thanks for the info
Elizabeth A. says
One of the main reasons I have credit cards is for the perks. They really can be useful.
Holly Thomas says
I need to get one with perks!!
Jiahui says
I love the discounts and freebies I get iwth the various cards!
Liz @ A Nut in a Nutshell says
I’ve been doing cash rewards on my cc, but I’m starting to think I might switch to airline miles.
Katie says
we don’t use credit cards anymore but there are definitely a lot with great perks!
HilLesha says
Thanks for the info!
Jennifer Quirky Momma says
My husband and I have gone through Dave Ramsey’s Financial Peace program so we cut up all our cards at that point. We never used them responsibly.
april golightly says
I stopped using cards a while back.
Jennifer H says
I love our ccd perks! We just turned in our points for a few gcs.
Anne - Mommy Has to Work says
I try not use them so I guess I am…
Ty Watson says
Thanks for the information!
Erika E says
I think I have to start looking for a new credit card. I don’t have any of these perks and yet I pay an annual fee.
brich2222 says
I am not even sure what kind of perks my cc has. Need to look into it and take advantage of it
april golightly says
I recently got 2 new credit cards for the perks.
Kelly @ A Girl Worth Saving says
I love the cash back bonus that I get from my credit card.
Ty Watson says
Great post! I don’t think my cc has any perks.
Kara Marks says
Thanks for the great review. You made it really understandable.
Robin O says
I have a cashback card. It takes a while to earn rewards, but I have been pleased with it. Thanks for sharing this info.
Jennifer Hiles says
I don’t think I am taking enough advantage of my credit cards. I need to do some more research and see what I’m missing. I feel like I should be getting some cash back or points by now
Karen says
I get loyalty points with my credit card. I have the points go to Amazon. My son suggested that I pay EVERYTHING with my credit card to accumulate more points.
Jeanine says
We never thought credit cards could really pay back anything worthwhile. Well, we found out we were wrong! We have one that gets perks etc. and we love it!