10x rewards credit cards are an excellent way to boost your rewards earnings, especially if you spend a lot in certain categories. These cards offer 10 points per dollar spent in select categories, such as dining, travel, or online shopping. The main appeal of these cards is that they allow you to rack up rewards quickly. With the right card, you can get more value from your everyday spending.
In this post, we’ll explore everything you need to know about 10x rewards credit cards. You’ll learn how they work, what benefits they offer, and which cards are the best options for earning more rewards.
What Are 10x Rewards Credit Cards?
10x rewards credit cards offer 10 points or miles for every dollar spent in certain categories. These cards are designed for people who want to earn rewards faster. For instance, you could earn 10 points per dollar spent on dining or travel. The rewards can then be used for various things, like flights, hotel stays, or even cashback.
The idea is to provide an incentive for people to spend more in specific areas. If you often dine out or travel, these cards will help you earn points much quicker than standard credit cards.
How Do 10x Rewards Credit Cards Work?
Each credit card has its own set of rules about how you earn rewards. Most 10x rewards cards give you 10 points or miles per dollar in select categories. These categories are usually high-value ones, such as dining, travel, and entertainment. For example, you might earn 10x points on every meal you buy at a participating restaurant.
It’s important to remember that you’ll only earn these high rewards in the qualifying categories. If you spend outside these categories, you’ll likely earn fewer points or no points at all.
Benefits of 10x Rewards Credit Cards
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Faster Points Accumulation
Earning 10 points per dollar allows you to accumulate rewards much faster than other cards. If you spend frequently in the qualifying categories, you’ll quickly rack up points. -
Sign-Up Bonuses
Many 10x rewards cards offer generous sign-up bonuses. These bonuses often require you to spend a certain amount within the first few months. Once you hit the target, you get thousands of points, which can jump-start your rewards earnings. -
Flexible Redemption Options
Most cards allow you to redeem points for a variety of rewards, such as travel, cash back, or merchandise. Some cards offer special redemption options, like transferring points to travel partners. -
Travel Perks
If you use a 10x rewards card for travel-related spending, you may also gain access to travel perks like free checked bags, airport lounge access, and travel insurance. -
Credit Building
Using a credit card responsibly will help you build your credit score. Paying off your balance on time and keeping your utilization low can improve your credit over time.
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Top 10x Rewards Credit Cards
Here are a few 10x rewards credit cards that can help you maximize your rewards:
1. Chase Sapphire Preferred® Card
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Reward Rate: 10x points on travel purchases made through Chase Ultimate Rewards®
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Sign-Up Bonus: 60,000 points
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Annual Fee: $95
The Chase Sapphire Preferred® Card is great for those who travel often. It offers 10x points on travel purchases made through Chase Ultimate Rewards®. You can redeem these points for travel or cash back.
2. American Express® Gold Card
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Reward Rate: 10x points on dining and eligible travel purchases
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Sign-Up Bonus: 60,000 Membership Rewards points
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Annual Fee: $250
The American Express® Gold Card is perfect for foodies and frequent travelers. You’ll earn 10x points on dining and travel, which can add up quickly. Plus, you get a great sign-up bonus.
3. Citi Premier® Card
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Reward Rate: 10x points on dining and travel
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Sign-Up Bonus: 80,000 points
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Annual Fee: $95
The Citi Premier® Card offers 10x points on both dining and travel. With this card, you’ll earn a ton of points in categories you likely already spend a lot in. The sign-up bonus is also impressive, giving you a strong start on earning rewards.
How to Maximize 10x Rewards Credit Cards
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Focus on High-Earning Categories
To maximize your rewards, make sure you’re spending in the categories that earn 10x points. If your card gives you 10x points on dining, make sure you use it every time you eat out. -
Use Your Card for Big Purchases
Try to make large purchases in the categories that offer the best rewards. This way, you’ll earn more points quickly. Just make sure you can pay off the balance each month to avoid interest charges. -
Track Your Rewards
Most cards have a limit on how many points you can earn in certain categories each year. Stay on top of your spending and make sure you don’t hit that limit. If you do, switch to another card or spending category to continue earning points. -
Take Advantage of Special Promotions
From time to time, credit card companies offer limited-time promotions. These could include extra points in specific categories or bonus points for certain types of purchases. Keep an eye on your card’s offers to maximize your rewards. -
Combine Multiple Cards
If you have more than one 10x rewards card, use them for their respective categories. For instance, use one card for dining and another for travel. This way, you can earn 10x points in both categories.
Things to Keep in Mind Before Getting a 10x Rewards Credit Card
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High Annual Fees
Many 10x rewards cards come with high annual fees. Consider whether the rewards you’ll earn outweigh the cost of the fee. If you don’t plan to spend enough to justify the fee, a card with a lower annual fee might be a better choice. -
Spending Limits
Some cards limit how many points you can earn in a certain category. Be sure to check the fine print to understand how much you can earn before hitting the cap. -
APR Rates
Credit cards with high rewards often come with higher interest rates. Make sure you pay off your balance in full each month to avoid paying interest. -
Complex Rewards Structures
Some 10x rewards cards have complex rewards structures. For example, they may offer 10x points only for specific merchants or require you to use certain apps. Be sure you fully understand how the rewards work before committing to a card.
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Conclusion
10x rewards credit cards are a great option for anyone looking to boost their rewards earning potential. With the right card, you can earn points much faster than with traditional credit cards. However, it’s important to choose the card that best fits your spending habits and to understand the terms and conditions.
By focusing your spending on high-reward categories, taking advantage of promotions, and using the right card for each type of purchase, you can maximize the rewards you earn. Be sure to monitor your rewards limits and annual fees to make sure you’re getting the best deal.
FAQs
1. What are the best categories to earn 10x points?
Common categories for earning 10x points include dining, travel, and online shopping. Check the terms of each card to see which categories qualify.
2. Are there any limits on how many points I can earn?
Yes, many cards set a limit on how many points you can earn in each category each year. Be sure to check the card’s details to understand these limits.
3. Can I redeem 10x points for cash?
Yes, most cards allow you to redeem points for cash back. However, you might get more value by redeeming for travel or other rewards.
4. Do I need to use the card in specific locations to earn 10x points?
Some cards require you to make purchases at specific merchants or through certain channels to earn 10x points. Check the card’s terms for more details.
5. Is it worth paying a high annual fee for a 10x rewards card?
It depends on how much you plan to spend in the high-reward categories. If you spend a lot in these areas, the rewards could outweigh the cost of the annual fee.
Table: Comparison of Top 10x Rewards Credit Cards
| Credit Card | Reward Categories | Sign-Up Bonus | Annual Fee |
|---|---|---|---|
| Chase Sapphire Preferred® Card | 10x points on travel | 60,000 points | $95 |
| American Express® Gold Card | 10x points on dining and travel | 60,000 points | $250 |
| Citi Premier® Card | 10x points on dining and travel | 80,000 points | $95 |
