Credit cards with rewards
If you regularly use a credit card it makes sense to join a programme that rewards you for normal spending.
What is a rewards programme?
A credit cards rewards programme is an incentive linked to your credit card which provides some kind of return to cardholders in exchange for spending with their credit cards. Rewards often take the form of points that can be accumulated and exchanged for goods. Some reward programmes offer specialised incentives for spending, like air miles.
Will I benefit from using a credit card with rewards?
If you regularly use your credit card to make everyday payments, a rewards programme makes complete sense. As you are paying with your credit card anyway, you can get points without changing your spending habits.
If you do not regularly use your credit card, or do not yet posses a credit card, you might consider replacing your current payment method with a rewards-linked credit card. This way, you can get the benefit of rewards while meeting your regular payments.
Of course, if you have a credit card with rewards, this is not a licence to spend excessively. That will not ultimately be cost effective. Rather, rewards programmes are a great way to benefit from payments that you are making anyway.
How do I choose a rewards credit card?
There are a number a credit card reward offers in South Africa. It has become relatively simple to compare different credit cards by searching on the internet or using a credit card comparison website and choosing the one which has the most suitable combination of qualities.
Some of the essential variables to look out for are:
How quickly you accumulate rewards
Whether the credit card represents good value
How flexible the rewards are:
Can you exchange them for a wide range of goods and services?
Can you redeem them for goods that you personally value?
These factors won't hold equal weight for all customers. For example, many cardholders will value a really flexible reward programme that lets them redeem points for a whole host of products. On the other hand, some cardholders will specific requirements may prefer more targeted rewards, such as air miles for frequent travellers.
A further consideration when choosing a rewards credit card is that the rewards programme is only one aspect of the card. Compare the different cards available, considering features such as costs and interest rates, as well as rewards, in order to find that card with the right mix of benefits and attributes.
Which credit cards have rewards?
The American Express Membership Rewards programme is a renowned and well-established rewards programme that enables cardholders to accumulate rewards rapidly. American Express credit cards also come with a number of benefits, including travel insurance and attentive customer service.
With the Nedbank Greenbacks Credit Card, you get two credit cards on a single account: an American Express credit card, with all the benefits that come with it, plus a MasterCard or Visa credit card. This ensures a maximum rate of acceptance, allowing you to use your Nedbank Greenbacks card wherever credit cards are accepted. Greenbacks points never expire and can be redeemed for a wide range of products and services.
There are many credit cards with rewards on the market. When choosing a rewards programme, consider your objectives and consider how you would like to spend your rewards. Compare the options available and choose the credit card that suits you best.
Questions and Answers
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credit card rewards air miles points programme
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