What are the Different Types of Rewards Credit Cards?

Curve card and Credit cards

There are loads of different types of rewards credit cards. We understand how confusing it can all be, especially if you just looking for something specific. But don’t worry! Here’s our simple guide to the various rewards credit cards tailored to your lifestyle and spending habits.

For the all-rounded spender…

  • Cashback – These credit cards will give you a percentage of each purchase back to you (the percentage depends on the provider). They could be great for easily saving up some tax-free pocket money alongside your daily spending. There are different ways the money gets to you – normally it’s paid monthly or annually, but some cards add the amount to your balance to reduce your card bill or even send the money straight to your bank account to spend.  

For the frequent traveller…

  • Travel and Hotel Points – Credit cards specifically for travel will give “points” for certain purchases you make. As you collect these points, you can then use them to book holiday packages or hotel rooms. It depends on the credit card how quickly and flexibly you can use these points.
  • Airmiles – Just like travel points, using these credit cards will get you “airmiles” that you can then use to buy flights. You can also get certain offers for airline extras or premium services. If you travel a lot for work or leisure, this could be a great option to save in the long run. Or perhaps consider this an excuse to travel more.

For the shopping loyalist…

  • Retail- Supermarkets and department stores also offer customers the chance to earn points with their loyalty rewards credit cards. This could be particularly handy if you have a favourite shop that you visit regularly. They also sometimes come with extras like exclusive discount offers or free services in store and online.

Now let’s get to the point. For rewards credit cards, the points that you earn can be slightly different. The best one for you depends on whether you’re looking to gain points with one specific provider, or you want a bit more flexibility.

Fixed Value PointsFlexible (or Transferable) Points
These points have an assigned, unchangeable value (e.g. 1p) that you can only use at specific shops, airlines or hotelsYou can transfer the points you earn to purchase things from the list of credit card partners through a rewards program

Can’t get enough of rewards? You’ll be happy to know that with Curve you get even more perks on top of your credit card rewards . Yes, that could mean double rewards. Enjoy 1% instant cashback with purchases at an incredible range of top retailers.*

With Curve, you can manage your spending on one stylish card and our smart app. Download now for free to simplify your money.

Plus, check out our Go Back in Time feature which means if you paid with the wrong card, you can switch the card you used, for a purchase up to £1,000 and within 14 days.*  to get ultimate flexibility.