Credit Rewards Comparable
Credit card rewards come in all shapes and sizes. Financial institutions usually build credit cards that provide a variety of rewards ranging from cashback, to points, and even airline miles. Finding the right credit card for you is important, so you can maximize the amount of rewards you receive for everyday expenses. If you are a frequent traveler, finding a card that rewards you for travel purchases might be important. If you love to eat out, a card that gives you cash back for dining might be a good idea. Traditionally, you would need multiple credit cards to reward you for each area of your expenses. With Benjamin, you can choose your rewards option for everyday expenses based on the selected card, so you can make sure you are getting value for the areas of spending that matter most.
First, let us explain our reward system. Similar to other credit cards, we offer a points system that allows you to redeem points for a variety of options. You can use your points for any available reward options, including cash, statement credits, gift cards, travel, and more. Every time you make a transaction under one of the rewards categories, you earn a certain number of points. The number of points you receive will vary, depending on which Benjamin Credit Card you have. For example, under the Benjamin Mastercard® option, you would receive 2% back per dollar spent on dining. However, under the Benjamin World Elite Mastercard® option, you would receive 4% back per dollar spent on dining.
Want to earn more with your spending? With the Benjamin World Elite Mastercard®, you earn rewards that beat or are competitive with the cash redemption value of the American Express® Gold Card and the Chase Sapphire Preferred® credit card. With 4% cash back on dining and subscriptions, 3% cash back on gyms, insurance, and travel, and 1% back on everything else, the Benjamin World Elite Mastercard® covers it all (for full details, please visit the terms and conditions). Similarly, the other two Benjamin Cards offer rewards that outcompete well established cards in their reward earning categories.
Since securing your financial future is our top priority, you can use your reward points to invest and get up to 4% APY or more. As explained in a previous blog, the compounding effect of investing these points is huge. Although there may be an annual fee for the Benjamin Credit Card, depending on which you choose, the rewards and benefits you receive can more than make up for it and leave you net positive. Check out this blog to hear more about the benefits.