Credit Education

The Chase Sapphire Preferred® Card and the American Express® Gold Card have plenty in common: Big rewards for travel and dining. Transferable points. Flashy metal exteriors. The big question: Which one is better? The answer depends on your spending habits. For those who can take advantage of its rich credits for dining and airline incidentals, the American Express®…
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[DISCLOSURE: Credit cards from our partners are mentioned below.]

For some, the gift of a gift cards is the perfect present. Maybe that’s why sales of gift cards were projected to hit 160 billion U.S. dollars in 2018.¹ But perhaps there’s no better gift than rewarding yourself when you buy a gift card for someone else. You can do that when you buy gift cards to get credit card rewards on your rewards credit card.

The key to earning the most points, miles or cash back from your gift card purchases is to use a rewards credit card that offers the most rewards for your purchase or ideally added rewards at the specific type of retailer you shop at. Then it’s simply a matter of finding the perfect gift cards at stores that fit within the designated reward or merchant categories.

Buy Gift Cards to Get Credit Cards Rewards at Grocery Stores and Supermarkets

Supermarkets have some of the most extensive selections of gift cards available. If you buy gift cards at a grocery store with a credit card that offers higher rewards points or cash back for shopping at a grocery store, you maximize your own rewards too. Consider these cash back and points offers for grocery store purchases.

Blue Cash Preferred® Card from American Express gives you 6% cash back on up to $6,000 in purchases at U.S. supermarkets annually, and 1% after that. You also earn other rewards. Buy just $400 worth of gift cards at a grocery store using the Blue Cash Preferred card and get $24 of your own!

Hilton Honors American Express Ascend Card rewards 6X Hilton Honors Bonus Points for each dollar spent on eligible purchases at U.S. supermarkets as well as other rewards.

American Express® Gold Card rewards 4X points at U.S. supermarkets on up to $25,000 om purchases each year and 1X after that.

Capital One^® SavorOne℠ Cash Rewards Credit Card pays 2% cash back on purchases made at grocery stores along with other rewards.

More Ways to Reward Yourself

Outside of gift card racks, you can earn added rewards for purchasing gift cards directly from retailers included in rotating quarterly bonus categories from some credit card issuers. Cards that offer added bonuses for select categories each quarter include the Chase Freedom Card and the Discover it Cash Back card. And rotating rewards categories can include Amazon.com, restaurants, department stores and more.

Alternatively, you can choose a standard rewards level for purchases anywhere with a rewards credit card.

Chase Freedom gives you unlimited 1% cash back on any purchases and 5% cash back on up to $1,500 per quarter in select bonus categories.

Discover it® Cash Back pays 5% cash back at different places each quarter, including grocery stores and 1% cash back on regular purchases.

Chase Freedom Unlimited® gives you unlimited 1.5% cash back on all purchases anywhere.

Reward the Act of Giving

To be sure, giving a gift is an act of generosity and a way of expressing yourself to your friends and loved ones. But if you’re going to purchase a gift card, it’s only prudent to do so while rewards yourself with the most cash back or rewards possible. Isn’t it?

Note: Interest rates, fees and terms for credit cards, loans and other financial products frequently change. Rates, fees and terms for credit cards, loans and other financial products cited in this article may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

1 https://www.statista.com/statistics/671202/us-gift-card-sales/

The post Buy Gift Cards to Get Credit Cards Reward and Reward Yourself appeared first on Credit.com.

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Citi is kicking off the new year with the launch of the Citi Rewards+ credit card, which will have a unique “round up” feature on rewards. Beginning Jan. 10, you can apply for the no-annual-fee credit card that will earn 2 ThankYou points per $1 spent at supermarkets and gas stations (on up to $6,000 in purchases per year)…
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Your credit card issuer is the company that issues you your credit card. Sometimes your issuer may be a bank like Chase or Capital One, a credit union, or a credit card company like Visa or Mastercard. Your credit card issuer is able to make decisions regarding your account as described in your card agreement.

For example, card issuers can change your interest rate and your credit limit. They can also impose additional fees for late payments. Finally, credit card issuers can also close the accounts – sometimes without any warning. If this happens, you may find your credit card payment is declined, which can be embarrassing.
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