Credit cards 101: What are credit card rewards?

What are credit card rewards?

The average credit card does what you’d expect it to do: offer you a line of credit that you can pay later. For the financially responsible adult, credit cards are one of many options to pay for your wants and needs. But credit cards give you more than just spending power. It also rewards you each time you use it.

When you make a purchase with your credit card, you earn rewards points. You can use these points to redeem rewards such as cashback rewards, discounts and freebies at participating stores, gift certificates, miles for your airline membership account, and more.

Credit card rewards also offer access to exclusive lounges, services, and discounts. These perks convince the holder to maximize their spending power and make the most out of the available rewards.

What kinds of rewards can you get?

• Various reward options- Credit card providers often offer a wide array of credit card rewards options, so you can choose which rewards best apply to your tastes and preferences. Choose among tech gadgets, family-oriented rewards, air miles, charity donations, and more.
• Non-expiring rewards- Some banks offer reward programs where your points never expire, allowing you to redeem rewards at your own time.
• Cashback opportunities- Some reward cards provide cash back incentives to your account, which you can use to spend, save, or even pay off your credit card.

Not all credit cards are the same. In fact, not all credit cards offer rewards in the first place. Most credit cards provide unique rewards options that cater to their specific targets’ needs. Metrobank, for instance, has a wide variety of credit card options, each with different rewards options to suit every lifestyle, needs, and interests.

Do all credit cards offer the same rewards?

Not all credit cards are the same. In fact, not all credit cards offer rewards in the first place. Most credit cards provide unique rewards options that cater to their specific targets’ needs. Metrobank, for instance, has a wide variety of credit card options, each with different rewards options to suit every lifestyle, needs, and interests.

• Metrobank Cashback Visa- The Metrobank Cashback Visa lets you get up to 8% cashback* on groceries, telecom, school, and bookstore spend.
• Metrobank Peso Platinum Mastercard- The Metrobank Peso Platinum Mastercard gives you access to a wide range of world-class privileges including a 24/7 VIP Customer Service hotline, Concierge Service hotline, and other rewards and perks.
• Metrobank World Mastercard- The Metrobank World Mastercard brings you unlimited power like no other credit card can. Gain access, discounts, and deals at over 1,000 airports and 500 airport lounges, earn 1 point for every Php20 you spend on local purchases, and 2 points on foreign currency spend.
• Metrobank Travel Platinum Visa- The Metrobank Travel Platinum Visa is designed to be the only travel card you’ll ever need. Earn 1 mile for every P17 spent overseas and on airlines and hotels, unlimited airport lounge access and other exclusive travel offers.
• Metrobank Femme Signature Visa- Built for women, the Metrobank Femme Signature Visa lets you enjoy triple rewards for hotel accommodations, hospitals bills, salons, and spas and 24-hour VIP Concierge Service.
• Metrobank Titanium Mastercard- Get rewarded every time you shop with the Metrobank Titanium Mastercard. Enjoy 2X Rewards Points on dining, department store, and online spend.
• Toyota Mastercard- The first complete motorist card in the country, the Toyota Mastercard gives you 10% discount on genuine parts, accessories, and labor at all Toyota dealers, plus 3% fuel rebate at Petron, among other privileges.
• Metrobank Rewards Plus Visa- For the tech-savvy out there, the Metrobank Rewards Plus Visa is the ideal credit card for you. Gain 2X rewards on gadgets and electronics, telecom spend, delivery services and online transactions.

So, which credit card is the best?

One credit card is not better than another. At the end of the day, it all depends on how you intend to use your card, how frequently you use it, and the rewards you’re looking to get.

If you need help deciding on which credit card to avail of, you can compare all of the Metrobank card credits and their benefits before deciding on which one to apply for.

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*The promotional 8% cashback rate for the Metrobank Cashback Visa is valid until July 2022 for those who apply until January 31, 2022.