A rewards credit card is exactly what it sounds like: a credit card that rewards you for your purchases. Used responsibly, a rewards credit card can help you save money on everything from travel bookings to Amazon purchases.

Are rewards credit cards worth it? In most cases, yes, as long as you’re not carrying a balance and the annual fee (if it charges one) is less than the value of the rewards you earn each year. In any case, it doesn’t hurt to know how to get the most out of your rewards credit card.

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Let’s start by looking at the three most common types of rewards credit cards: Cash back, points and miles.

Cash back credit cards earn cash rewards on purchases. Most card issuers let you use cash back as a statement credit to reduce your credit card bill. Some of them also let you transfer cash back to your bank account or request a check for it.

Point-based cards and miles-based cards are a lot like cash back rewards cards — but instead of earning money on every purchase, you earn points or miles. Travel credit cards almost always fall in this category of rewards cards.

Like cash back, you usually earn points or miles on your purchases at a set rate. Many points and mile-based rewards cards increase your rate when you spend in certain categories.

The Capital One Venture Rewards Credit Card, Cardholders can also earn upto INR 10,000 on hotels and rental cars booked through Capital One Travel.

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