Consumers that have a decent repayment history and a strong credit score have access to a wide variety of reward credit cards. From an ultraluxe airlines card to a no-frills attached reward points card, there are many types. But consider all things carefully before you decide on one; make sure to comb through the fine print, and make all the necessary calculations with the credit card rewards calculators available online.

Cash back credit cards
These credit cards reward you with points or units that you can later exchange for money. Alternatively, you can also get the points exchanged for gift cards. Some credit cards will automatically redeem your points in the month’s billing cycle while others will let you hold on to the points till you decide to redeem them. You can choose to accrue the reward points in the form of paper checks, bank account deposits, or credit card statements. Cash back credit cards are further categorized into flat-rate cash back credit cards, tiered cash back credit cards, and category-based cash back credit cards.

Rewards point credit cards
Reward points-based credit cards can come in different categories. You have restaurant cards, airline cards, hotel cards, and more. You get access to an extensive range of redemption options with this card, and this is what sets it apart from the specific reward cards. You can go through the credit card reward redemption process by using the portal’s specific websites. Some of these websites are like e-commerce sites for cardholders that let you make cash purchases along with redeeming the reward points.

Gas credit cards
These credit cards come in handy if you are someone that commutes a lot. This can benefit you and your family members in terms of gas expenses. Although gas cards tend to bear the name of a singular gas brand, they can be of great use in terms of savings. You might even be able to find some points or rewards-based credit cards that are available in different tiers and might temporarily offer high-spenders rewards on gas spends.

Airline credit cards
These cards are focused on customers that have been loyal to a brand of airlines. This type of credit card is known to award you airfare, ticket upgrades, and a few other incidental charges. Some tiered airline credit cards might even award you for travel-related spendings like hotel booking and restaurant bills. Redemptions can usually be made via the airline’s online portal. You might also be awarded points for non-travel expenses like magazine subscriptions and consumer goods.

Retail credit cards
Retail cards are a great choice if you shop a lot in retail stores. While almost all credit cards can be used in retail stores thanks to the usual credit rewards system, the cards that come with special retail rewards points have added benefits. These cards, like airplane credit cards, are affiliated with the brand name stamped on them. Think of them as membership-based reward cards that reward you for shopping with certain retailers or outlets. Some retail credit cards are associated with Visa, MasterCard, or other major card networks. These will be accepted in most retail merchants in the card network.