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Anonymous asked in Business & FinanceCredit · 2 months ago

How are reward points accumulated on credit card?

5 Answers

  • ?
    Lv 7
    1 month ago

    Depends on the cards program, each are different. 

    For instance I get 1, 3 or 5% cash back depending on where and for what I use my card. It runs per calendar year,so on January 1st a new cycle begins and I get my cash  back in February 

  • 1 month ago

    It depends on the program. You get a certain number of points per dollar spent typically. 

  • Anonymous
    2 months ago

    I have many cards with many different deals Generally between 1 and 5% back in cash or points

    Some have point inflation where it takes like 6000 points for $50 worth 

    watch carefully for those as in that case a point is really worth about 17% less than a point

    My primary card is a flat 2% paid when I accumulate $25 or more paid direct to my brokerage account

    Discover & Chase have rotating 5% categories while everything else pays 1%

    Discover lets you buy discounted gift cards like a $100 card for $90 

  • Anonymous
    2 months ago

    Each card is slightly different.  With most cards, you earn a certain percentage of the reward for what you spend.  On some cards, only certain kinds of purchases count.  On other cards, all purchases count.

    You need to read the terms for YOUR exact card to find out how your card works.

    Personally, I earn 1% cash back on EVERY purchase that I make.  I cash that out about once per year.   

  • GA41
    Lv 7
    2 months ago

    Read the terms of your card.  Basically it is tied to the amount of purchases you make.

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