How to Choose a Rewards Credit Card
You may have a lot of questions as you explore different rewards credit cards. Choosing the right one can feel like finding the right pair of shoes. The best option fits your routine, feels easy to use, and offers benefits you’ll actually notice over time.
What Should I Look for in a Rewards Credit Card?
The right rewards credit card fits how you spend and helps you get value from your everyday purchases.
Different cards offer different benefits and perks, and some may help you earn rewards faster than others. As you compare options, look for a card that aligns with your spending habits. It’s also important to consider fees, interest rates and the type of rewards offered.
Choosing a card that matches how you spend can help you get the most out of it. For example, a travel rewards card may be beneficial if you want to earn points for trips, while a low-interest card may be a better fit if you plan to carry a balance. The best card should support your financial goals.
What Kind of Rewards Does a Credit Card Offer?
You can earn different types of rewards depending on the card you choose. Common types include:
- Points: Earn points on purchases that you can redeem for cash, travel or other rewards
- Travel: Earn miles or travel credits for flights, hotels or other travel costs
- Cash back: Get a percentage of your spending back as a statement credit (reduces your credit card balance), a direct deposit to a bank account, a check mailed to you, gift cards or purchases through the card issuer's rewards portal.
How much you earn may vary based on how and where you spend. Many cards offer higher rewards in certain categories, like groceries or dining. Some may also set limits on how much you can earn in those categories.
Cards may also offer limited-time promotions, like higher cashback or bonus points for specific purchases. You can usually track these offers through your card’s website, mobile app or email updates.
Rewards may expire if they aren’t used within a set time, so it’s a good idea to set a reminder and use them regularly.
How can I redeem the rewards?
How you redeem rewards depends on your card. Many cards let you redeem rewards through a mobile app or online account. In some cases, you can also call your card provider for help redeeming.
Check for details like minimum redemption amounts and how much your rewards are worth. You can usually find this information on your statement or in the rewards section of your card’s app or website.
What additional perks does a rewards credit card offer?
Many credit cards include extra benefits beyond points or cashback. These may include protections for your purchases, like coverage for items that are damaged or stolen, as well as fraud protection for unauthorized charges.
Some cards also offer travel-related perks, like rental car coverage or trip insurance. Many other benefits are available, but these vary based on the card.
What Will a Rewards Credit Card Cost?
A rewards credit card may come with annual fees and interest charges. Common fees and charges include:
- Annual fee
- Interest (will be charged, if you carry a balance)
- Foreign transaction fees
- Late payment or penalty fees
- Cash advance fees
Review the types of fees before choosing a card and weigh these against the rewards you could earn.
Is a Rewards Credit Card Easy to Manage?
Credit cards are usually easy to manage using online tools. Most cards can be accessed through a mobile app or website where you can check your balance, pay your bill and track your rewards.
When comparing cards, it may help to look at how you’ll manage your account day to day. For example, an easy‑to‑use app might help you keep track of your spending and perks. Many cards also offer alerts and notifications to remind you about payments and help you avoid fees.
Does KeyBank Offer a Rewards Credit Card?
KeyBank offers a range of credit cards with different ways to earn, like cashback or points on purchases. Each card is designed with different features, rewards and requirements.
For a cashback option, take a look at the Key Cashback® credit card and explore perks, fees and interest rates that fit your spending habits and goals.