Rewards Credit Cards

Learn how rewards credit cards work and what you need to do to maximize benefits. Discover who has the best cards, what they can be used for, and what if any tax implications there are.
Frequently Asked Questions
  • Are rewards credit cards profitable for banks?

    Reward programs are profitable for banks as they increase both sources of revenue for card issuers - merchant swipe fees and interest charged on balances that revolve.  Studies have shown that consumers spend more when earning cash back, points and miles which translates into more interchange income and larger balances that potentially earn interest income.

  • How does Chase Ultimate Rewards work?

    Chase Ultimate Rewards provides points per dollar of spend on participating Chase credit cards. Chase administers the points program and converts customer points to cash back, merchandise and travel at various redemption levels.

  • Are certain card issuers’ rewards points better than others?

    Credit card reward points values can vary in value across similar products with major card issuers, particularly when it comes to point values for their branded reward programs like Chase’s Ultimate Rewards and American Express’ Membership Rewards. Points values are determined by card issuers and can change over time.

  • What are credit card rewards points and miles worth?

    Credit card points values vary depending on the rewards program involved and can have significant differences when co-brand partners are involved like airlines and hotels.

Key Terms

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