Photos, Videos, Events, Promotions & Jobs
Events, Promotions, Jobs & Articles
Company Info, Services & Connections
Video, Tutorial, Demos & Seminars
Photos and Short Videos
So, you’ve decided to apply for a credit card for added flexibility or to make a special purchase. You might have noticed that some credit cards offer rewards. Rewards sound good! And they can be—if you understand what these credit cards offer and how rewards work.
Rewards are one way that issuers (credit card companies) try to motivate you to get, keep, and use their card. Issuers know that you might have several different ways to pay, and they want their card to become your favorite. They hope that because you are earning rewards whenever you use that card, you will make a habit of using it first. The rewards that creditors offer can be cash, points, or miles that you earn when you sign up for the card or use it to make eligible purchases.
For travel- or rewards-based cards, every dollar you spend using the card earns you points or miles, which are added to your rewards tally. After you have earned a set number, you can use an app or web site to redeem many different travel options or other rewards.
UFCU membership comes with access to free online resources and seminars. As a Member, you also have access to expert financial advice. Explore UFCU credit cards or connect with a professional to tackle your finances.
For cash back-based cards, every dollar you spend using your card earns you a percentage back. Typically, you can opt to put that towards your next statement in the form of a credit. Some issuers offer to deposit the reward into your account or send it to you. Most cards offer a flat percentage back, but you might find one that accelerates your earnings at certain types of merchants.
Take the time to determine which reward card is best for you. Make sure to understand the rules, as not every transaction on your account is eligible to earn rewards. For example, if you transfer a balance from one card to the rewards card, it is not eligible for rewards. That’s because the issuer makes money from the merchants you pay, and there is no merchant in a balance transfer transaction.
Here are some tips for making a rewards card work for you.
Rewards cards are available through UFCU. That’s right—we offer convenient credit cards with these great advantages:
You can apply for a card online or contact a Member Services representative about eligibility requirements. We’re here to help you get the most from your money.
Was this article helpful?
Thank you for your feedback.
Share this article: