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Cash Back Credit Cards vs Travel Rewards Cards vs Points Rewards Cards
Cash back credit cards, travel rewards cards, and points rewards cards are all types of credit cards that offer rewards for your purchases. However, they differ in the type of rewards they offer and how you can redeem them.
Earn Cash Back Rewards* on All Eligible Purchases – 3% on Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
Up to $1,000 credit limit subject to credit approval
Prequalify** without affecting your credit score
No security deposit
Free Access to your Credit Score†
*See Program Terms for important information about the cash back rewards program.
** Prequalify means that you authorize us to make a soft inquiry into your credit history (that will not affect your credit) to create an offer. If you accept an offer a hard inquiry will be made. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
Earn Cash Back Rewards* on All Eligible Purchases – 3% on Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
Use Anywhere Mastercard is Accepted
$0 fraud liability**
Free access to your VantageScore 4.0 credit score from TransUnion®†
*See Program Terms for important information about the cash back rewards program.
**Fraud liability subject to Mastercard rules.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
Intro Rate: See website for Details* – Intro (Purchases): See website for Details* – Transfers: See website for Details* – Intro (Balance Transfers): See website for Details* – Intro APR Period: See website for Details* – Purchase APR Rate: See website for Details* – Annual Fee: See website for Details* – Credit Needed: Good/Excellent
Intro Rate: See website for Details* – Intro (Purchases): See website for Details* – Transfers: See website for Details* – Intro (Balance Transfers): See website for Details* – Intro APR Period: See website for Details* – Purchase APR Rate: See website for Details* – Annual Fee: See website for Details* – Credit Needed: Average/Fair/Limited/Good/Excellent
Intro Rate: See website for Details* – Intro (Purchases): See website for Details* – Transfers: See website for Details* – Intro (Balance Transfers): See website for Details* – Intro APR Period: See website for Details* – Purchase APR Rate: See website for Details* – Annual Fee: See website for Details* – Credit Needed: Average/Fair/Limited/Poor/Good/Excellent
Earn points or miles that you can redeem for travel expenses, such as flights, hotels, and car rentals
Can also redeem points or miles for merchandise, gift cards, or cash back
Good option if you travel frequently and want to save money on your travel expenses
Many cards offer perks and benefits, such as airport lounge access, travel insurance, and statement credits for travel-related purchases
Points rewards cards
Earn points that you can redeem for a variety of rewards, including travel, merchandise, gift cards, and cash back
Can also transfer points to loyalty programs for airlines, hotels, and other travel partners
Good option if you want flexibility in how you redeem your rewards
Many cards offer introductory bonuses or welcome offers
Which one is right for you?
The best type of rewards credit card for you will depend on your individual spending habits and financial goals. If you want simple and easy-to-understand rewards, a cash back credit card may be a good option. If you travel frequently, a travel rewards card may be a better choice. If you want flexibility in how you redeem your rewards, a points rewards card may be the best option for you.
Here is a table summarizing the key differences between cash back credit cards, travel rewards cards, and points rewards cards:
Feature
Cash Back Credit Cards
Travel Rewards Cards
Points Rewards Cards
Rewards
Cash back
Points or miles
Points
Redemption
Statement credits, checks, deposits into bank account
Travel expenses, merchandise, gift cards, cash back
Travel expenses, merchandise, gift cards, cash back, transfer to loyalty programs
Pros
Simple and easy-to-understand rewards, many cards offer introductory bonuses or welcome offers
Good option if you travel frequently, many cards offer perks and benefits
Flexibility in how you redeem your rewards, many cards offer introductory bonuses or welcome offers
Cons
Can be tempting to overspend just to earn cash back
Can incur interest charges if you don’t pay your balance in full each month, some cards may have annual fees or other restrictions
Can be difficult to maximize the value of your points if you don’t redeem them strategically
No matter which type of rewards credit card you choose, it’s important to use it responsibly. Always pay your balance in full each month to avoid interest charges, and only charge purchases you can afford to make.
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
