With so many credit cards on the market, many lenders offer rewards for new customers as an added benefit to choosing their credit cards. Some providers even offer credit cards with 50,000+ bonus points available, which can be redeemed for a variety of rewards.
What are credit cards with bonus points?
Credit cards with bonus points are a type of rewards card. With these cards, you can earn points from everyday spending as well as receive bonus points if you meet certain conditions. The requirements for earning bonus points differ depending on the provider, but typically involves a spending threshold during a specific timeframe.
For example, a provider could stipulate that in order to earn 50,000 bonus points (on top of points earned with regular spending), you need to spend $3,000 on purchases within the first 60 days of the account opening.
What can I spend my bonus points on?
Rewards credit cards such as credit cards with bonus points generally earn you points for every $1 spent on eligible transactions. Once you have earned enough points, you can redeem them for rewards. Some of the most common reward types include:
- Flight upgrades
- Gift cards
- Fuel vouchers
- Shopping discounts
- Event tickets
Rewards and points programs differ from lender to lender, so it’s best to do some research to find the right program to suit your requirements.
Factors to consider when choosing a rewards card
Whether you’re looking for a standard rewards card or a credit card with bonus points, consider the following factors when shopping around:
- Eligible transactions – Not all transactions are considered ‘eligible’ for earning points or bonus points. Check the fine print the see what’s included.
- Types of rewards – Every rewards program is different, so choose an option with points that can be redeemed for rewards that appeal to you.
- Bonus points available – Some providers offer credit cards with 50,000+ bonus points, while others offer other rewards such as cashback. Compare your options to see which will provide you with the most value.
- Conditions for bonus points – Most credit cards with bonus points come with a set of conditions for earning those points, such as minimum spend over a certain period. Make sure you understand the conditions before signing up.
- Points required to redeem – Every reward available has a points value (e.g. 10,000 points for a $50 fuel voucher). The points required to redeem rewards differ depending on the credit card provider.
- Fees and interest – Rewards cards tend to come with higher fees and interest rates than standard cards. It’s important to weigh up your options to make sure the benefits are worth the cost.
Where to find credit cards with 50,000+ bonus points
There are a variety of rewards credit cards to choose from based on the benefits you want. Many rewards card providers also offer bonus points for a limited time or during promotional periods. With RateCity, you can compare rewards credit cards and stay on top of the latest bonus points offers.