Visa rewards are points, miles, or cash back earned by Visa cardholders for making purchases, though the Visa credit card network itself does not give any rewards. Rather, the individual banks and credit unions that issue Visa credit cards give the rewards.
How Visa Rewards Work
Earn Cash Back, Points, or Miles. Cardholders earn rewards by making purchases with a Visa card. Whether you earn cash back, points or miles depends on the type of rewards card you have.
Redeem Your Rewards. Once you’ve earned rewards, you can redeem them by logging in to the card issuer’s website or by calling the issuer. Rewards are often redeemable for cash back, gift cards, merchandise, and select travel purchases, but the options will vary based on your Visa rewards card.
Not All Rewards Have the Same Value. Visa points and miles are usually worth about 1 cent each, on average. But the exact value can vary based on the rewards type, the issuer’s rewards program, and how the rewards are redeemed.
For the most part, Visa rewards don’t expire as long as your account remains active. Some cards’ rewards could be forfeited if the account is inactive for an extended amount of time, however – usually 12+ months. Additionally, you might lose any unredeemed rewards when you or the issuer closes the account, regardless of the reason. Check the terms and conditions of your Visa rewards card for details.
Potential for Extra Visa Benefits. Some Visa cardholders may be eligible for Visa Offers & Perks, which include discounts on select luxury hotel reservations, merchandise, car rentals, and more. These savings opportunities are in addition to the secondary benefits that Visa credit cards provide.
Redeem Loyalty Program Rewards Through Your Mobile Device. If your Visa card is linked to a participating loyalty program, you can redeem rewards through a mobile device with Visa Rewards Redemption. When you make a qualifying purchase, you will receive a notification from the loyalty program inviting you to redeem your rewards. If you choose to redeem, a statement credit for the purchase amount will be applied to your linked Visa card account.
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