Rewards Credit Cards

Elite status is a loyalty program designation typically involving airline and hotel frequency reward programs that provide frequent flyers and hotel guests with special privileges such as seat and room upgrades, early boarding, late checkout and bonus miles and points earning levels.

An affinity credit card is a card issued in partnership with an organization or university that has a built in constituency, such as a group with a cause or an alumni group. Affinity credit cards often provide reward points that are earned with purchase activity with the revenue being split between the affinity partner and the issuing bank.

Co-branded credit cards are rewards cards that are branded with both the name of the co-brand partner, such as an airline or retailer, and the issuing bank. Co-branded credit cards drive loyalty and additional profitability for the co-brand partner and the issuing bank by incentivizing patronage and purchase behavior by the credit card customer through points and miles per spending dollar.

Transferable points programs allow reward program members to transfer points to other participating partner loyalty programs that allow points to be used for their products and services. So, if a reward program has several airline or hotel partners a program member could transfer points earned with their credit card purchases from one partner program to another.