Rewards credit cards are a great way to reap the benefit of spending on your credit card. Whilst there are a lot of attractive rewards schemes on consumer credit cards, business credit cards usually have two main ways you can get rewarded for your spend: cashback or points. With a good cashback reward card, you can earn 1% cashback on all your card spend. Alternatively, you can earn points which you can redeem with the credit card provider for a multitude of things e.g. flight discounts, cabin upgrades, car rentals or shopping discounts.
How do rewards credit cards work?
Rewards credit cards allow you to earn a set amount of points for every £1 of spend on your credit card. You will generally need to pay off the minimum monthly repayment for the billing period in which you purchased before you can redeem those points. Once your points become available to redeem, you can cash them in and reward yourself as you wish.
What rewards can I get on my business credit card?
Consumer rewards credit cards are well-established, and increasingly business rewards credit cards are becoming more attractive. The rewards you can receive depend on what your credit card provider offers. Capital on Tap's Business Rewards Credit Card allows you to earn points on all card spend which you can then redeem for either cashback or Avios.
Read more about cashback credit cards here.
How can you redeem your business credit card rewards?
Your credit card provider should have an online portal where you can see the points that you have earned through your card spend. When the points become redeemable, you should be able to exchange them through your online portal.