What Rewards Do Credit Cards Offer?

Credit cards are useful tools for consumers’ finances, as long as best practices are followed regarding their use. However, taking advantage of credit card rewards can maximize cardholders’ benefits.

It is important to note that benefiting from credit card rewards programs requires making minimum payments on time. Falling behind on payments is usually a cause for a cardholder to have their rewards privileges limited.


Credit cards offer points that users can accumulate and spend later. These points are incentives cashed out as part of the card’s loyalty or rewards program. Credit card points are similar to those that supermarkets and other retailers offer their customers.

Depending on the type of card the consumer holds, they may be able to use their rewards points to pay their annual fee. This is a great way to eliminate the expense of owning the card through daily purchasing activity. Beyond paying their yearly card fee, cardholders can use their points to make hotel bookings or airfare.


Credit card companies also offer their customers miles as a reward option. Miles are a type of currency in the credit card ecosystem that cardholders can accumulate similarly to points. For example, users earn a certain number of miles for every dollar they spend using miles-based cards for everyday expenses.

Some cards offer bonus miles for making certain purchases. For example, the credit card company has special deals with select retailers and service providers that allow cardholders to take advantage of special deals. Often, credit cards have co-branding agreements and the card will include the name of the service provider.

Airlines and banks are some of the most prominent fields with co-branding deals with credit cards.

Cash Back

Cashback reward programs are incentive plans where a percentage of the amount users spend is returned to the cardholders. Some credit cards split the reward into two parts. The first is paid after the cardholder purchases with the rest of the reward being given once the credit card bill has been paid quickly.

Crypto Rewards

Some credit card companies offer their customers rewards paid in cryptocurrency. Crypto rewards are similar to the other types of rewards since they accumulate as a percentage of purchases, as per SoFi Invest, an innovative financial services provider:

The SoFi Credit Card now lets you redeem points straight into crypto. You’ll earn 2% cashback on all purchases and can redeem it directly into crypto with your SoFi active investment account. Get 2% cashback on all purchases^ when you redeem it to pay down eligible debt, save, or invest with SoFi. Get 1% when redeeming for a SoFi Credit Card statement credit.

Take Advantage of Reward Programs

Making credit card ownership a profitable experience requires adhering to monthly payments and maximizing reward programs’ benefits. Cryptocurrency enthusiasts can use their credit card with crypto rewards to accumulate their favorite tokens through their everyday purchasing activities.