What are credit cards with points?
Credit cards with reward points are those that offer compensatory programs for cardholders. These programs allow the cardholder to collect points that can be converted into air miles or discounts, as well as other products or services, depending on the use of the credit card.
Credit card loyalty programs are one example of point programs, since they give benefits to those who have adhered to the loyalty period of the same card, such as the possibility of exchanging points for air miles or other types of services.
When using this type of credit card – which can be either the Visa or Mastercard network – you have the possibility of accumulating points, and have the freedom to change them as you wish. It can transform expenses into airfare and daily flights into hotels, appliances, computer equipment, among other available products.
How do credit cards work with points?
When using a credit card with a points system, as you make a purchase, you earn points. Although there are different ways of winning points, most cards assume that for every euro spent, you earn one point. Therefore, spending 10 € on a purchase earns 10 points. You should, whenever you can, analyze your score in order to perceive the amount of accumulated points.
The score goes up as you spend. Know, however, that points can be valid for two to three years and that if you do not make the redemption in the stipulated time you can lose them.
As with most credit cards available, to apply for a credit card with points you should go to a service desk at one of the issuing banks or if you prefer, online. Then just sign up for one of the points programs available to start accumulating points. It is always necessary to reach a certain number of points to be able to exchange them for air tickets, to enjoy discounts or products and services.
How to apply for point programs?
Just like ordinary credit cards, you have to join the card that gives you the benefits you’re looking for. Depending on the card, it can be done online or at the customer service counters of the issuing bank. That said, you sign up for reward programs, and every time you make a purchase, you accumulate points. You need a certain number of points to be able to exchange them for air tickets, take advantage of discounts or other products and services, depending on the credit card you choose. Points can be redeemed at your bank’s service desk or, if available, at the issuer’s website. So that you do not choose the first credit card with points you find, ComparaJa.pt helps you in this selection process and choose the best and most advantageous credit card with points in the market.
What care to take with this type of cards?
Like all credit cards, credit cards with points have advantages that can make your day-to-day life easier. However, its use must be made responsibly. Misusing credit cards can be devastating to your monthly budget at the end of the month.
Before using your credit card, make sure it’s the best payment option for you. There are places, such as service stations, where you can pay an additional fee each time you fuel the car and use the credit card as a form of payment. In this case, it is preferable to opt for another solution.
Next, you should think about the type of use that will give the card. If you are going to use your credit card many times, it is preferable to opt for a card with a lower interest rate. If you are going to use the card a few times choose one with no annuity.
Are there credit cards specifically for women?
Yes. However, there are only two cards available on the market for women. In fact, credit cards for the female segment offer many advantages. Get to know them on our comparison platform.
What are the requirements to get a credit card with points in Portugal?
Most financial institutions in Portugal require that they be of legal age and permanent resident in Portugal. You also need to have a stable job and meet the minimum salary requirements, which vary according to the type of credit card and the type of profile of the applicant. For more information on this matter, please visit our credit card guide.
How to choose the best credit card with points?
First of all, you need to research and study all the offers available to you. There are some aspects to take into account such as annual fees, Annual Effective Annual Rate (APR), penalization policies, advantages and other benefits offered by a particular credit card. This task was made easier for consumers with ComparaJ.pt’s advanced credit card comparison tool. With just a few clicks, you can easily compare different credit cards in Portugal and see which one is right for you.
Can I order more than a credit card with points?
Yes, but you can not submit the orders at once. Financial institutions may have access to information on their existing claims as well as their credit profile. Having too many active requests at the same time will make you look “desperate” and thus less likely to be approved.
How did credit cards with points appear?
The official birth of the credit card was in 1950 with the emergence of Diners Club International.
And in Portugal?
Credit cards did not have any problems entering the Portuguese market, having been quickly included in the Portuguese portfolios since its inception in 1970. More than 40 years later, in 2014, one in three Portuguese had a credit card.