Though many cards offer standard reward programs, like percentage-based cash back offers or a points system that can be redeemed for travel or merchandise, many other cards participate in a more specialized kind of reward structure. Whether it's free nights at a hotel, discounts on sports tickets, or even free movies, plenty of credit cards take a unique approach to rewarding consumers' purchases throughout the duration of a card's life.
While some consumers might be turned off by a specialty rewards card since they can't enjoy cash-back offers or redeem points in any way they see fit, those consumers who frequently use a given service can stand to benefit a great deal from specialty programs. Among the most common specialty rewards schemes:
- Free Hotel Rooms
Major hotel chains throughout Canada, including global conglomerates like Hilton and Marriott, allow consumers to earn points toward a free hotel stay simply by reserving their rooms using the company's credit card. Because these hotels are established all around the world, this reward program can make it easier to travel throughout Canada and in many other countries worldwide.
- Free Entertainment
Numerous companies use their credit cards to encourage customers to buy movies, music, and other entertainment items like concert tickets. These purchases add up, often to free movies, albums or tickets for popular concerts throughout Canada.
- Sports Discounts
Credit cards like those issued by the NHL can be used to earn points toward sports tickets, merchandise purchases, and even concession purchases at games throughout Canada and in the United States where applicable. These cards are a great way to cut down the escalating costs of pro sports tickets and related purchases.
- Mileage, Cash Back, and More
Of course, specialty cards also exist for airline-specific mileage rewards, bank-specific cash back offers, and a whole host of other specialty rewards that vary by issuer, interest, and other factors. These rewards are a great way to save on very specialized, specific purchases, and they represent a great deal for consumers who use certain brands or nationwide chains frequently.
One of the things that characterizes virtually all credit card reward programs is that their terms and conditions will often vary based on a consumer's credit history and their current credit score. For this reason, it's a good idea to review any credit-related information that might be on file before applying for a specialty rewards card offered by some of Canada's biggest banks and brands.
Consumers who are looking to supplement their existing credit picture with a new specialty card should be sure to compare options before they pursue any given option on the market. Be sure to compare how each specialized program works, and verify that it will blend well with existing spending habits. With a site like KANETIX, this comparison process is easy and it can effortlessly point out the best strategy for excellent rewards, great savings on purchases, and a robust credit limit that is built to last.