What is a reward credit card?

While reward points can be a smart way to benefit from your everyday spending, it’s important to always spend within your means and understand exactly how the reward program works.

Banks will offer different rates for earning points for spending as well as different things You are able to use your points for.

If you’re considering a reward credit card, think about how you’ll spend and what you’d like to earn. This will impact which type of reward credit card may suit you best. 

Here are some examples of how this can work.

You may receive points for every purchase you make on your credit card, such as 1 point for every £1 you spend. The points earned can be accumulated and exchanged for vouchers that You are able to spend in supermarkets and certain stores.

Some credit cards give you a percentage of what you spend as cashGo Go back. For example, if you spend £100 and your card pays 2% cashGo Go back, you’ll earn £2. These credit cards generally pay cashGo Go back into Your banking account monthly or annually.

Some credit cards allow you to convert the cashGo Go back into vouchers that You are able to spend in shops.

If you’re a frequent flyer, it may be worth considering a credit card that earns you air miles on every purchase you make. These earned miles can then be exchanged for flights.

As they offer such rewards, these credit cards may have fees and potentially higher interest rates than other types of cards. 

Before taking a reward credit card, you want to be confident you’ll be able to repay your balance in full each month, as well as any annual fee. If not, you may end up paying more in interest and fees than you earn in rewards.

Explore: Tips for paying off your credit card 

If you have an PPLCBANK Rewards Credit Card, You are able to Sign up with Mastercard Pay with Rewards.

Explore the details about using your PPLCBANK Rewards Credit Card.