Is a rewards credit card the same as a credit card?

Yes. A rewards credit card has the same attributes as any regular plain vanilla credit card. It serves the same function – to allow you to borrow money from a credit facility extended to you to make purchases. The only difference is that you earn points on eligible purchases with a rewards card. You can redeem these points for travel discounts, merchandise, gift cards, and other rewards.

Do all credit cards give you rewards?

Not all credit cards come with a rewards program, though most do, given their popularity among cardholders. With few exceptions, secured credit cards don’t allow you to collect any points, cash back, or miles. The same applies to student card and “starter” credit cards, which are geared toward users with little or no previous credit experience or poor credit.

Mark Gregorski

Mark is passionate about educating people on how the financial markets work and providing tips to help them better manage their money. Mark holds a bachelor’s degree in finance from the Northern Alberta Institute of Technology and has more than a decade of experience as an accountant.

Outside of writing and finance, he enjoys playing poker, going to the gym, composing music, and learning about digital marketing.

Latest posts from Mark Gregorski

Loans and Lines of Credit 9 min

Mark Gregorski

Latest posts from Mark Gregorski

What is a Line of Credit and How Does It Work

Do You Pay Tax on Lottery Winnings in Canada?

Here’s What a Rewards Credit Card is in Canada

Here’s What a Prepaid Credit Card Is

Here’s What a Balance Transfer Credit Card Is

Here’s How Cash Back Credit Cards Work

What is a Secured Credit Card?

What is a Credit Card?

Charge Cards in Canada Explained

What is a Chequing Account

What is a Joint Bank Account?

What is a High Interest Savings Account?

The Big 5 Banks: Which Is The Biggest Bank in Canada?

What is a Dividend and How Do They Work?

What is Minimum Payment on Credit Cards?

How Mortgage Interest is Calculated

What is Mortgage Principal?

What is a Collateral Mortgage in Canada?

Condo Mainteance Fees in Canada Explained

Here’s What a Credit Memo is in Canada

What is a Co Signer in Canada?

Soft Credit Check vs Hard Credit Check: Here’s The Difference

Student Loan vs Student Line of Credit

FHSA First Home Savings Account in Canada

Loan vs Line of Credit: Key Differences

Statement Balance vs Current Balance: Pay This One!

Do Air Miles Expire in Canada?

Open vs Closed Mortgage: What’s the Difference?

Money Order vs Certified Cheque: What’s the Difference?

What is Mortgage Insurance in Canada? (CMHC)

Variable vs Fixed Mortgage Rates in Canada: Here’s How to Decide in 2024

Alternatives to Credit Cards in Canada

What is a Bank Draft in Canada and How it Works

BC First Time Home Buyer Programs

New Mortgage Qualification Rules in Canada

What does a Negative Balance on Credit Card Mean?

What is a Cash Back Mortgage in Canada?

Car Title Loans in Canada: Here’s What You Need to Know

How to Switch or Change Banks in Canada

RRSP Loan: Should You Take One?

What is an Adjustable Rate Mortgage in Canada?

What is an Installment Loan in Canada?

What is a Variable Rate Mortgage in Canada?

VFV vs VOO: Which Should Canadians Invest In?

How To Open a Canadian Bank Account

How Much is a Down Payment on a House?

Canada Deposit Insurance Corporation (CDIC): What It Is & How Much It Covers

Transfer Amex Points to Aeroplan: Here’s How

Prime Rate in Canada

What is a Subprime Mortgage in Canada?

Credit Card Expiration Date Explained

Interest Rate Differential (IRD) Calculation in Canada

Forgivable Loans in Canada

House Hacking Canada – What is it & How to do it

How to Read a Canadian Cheque

What is CVV or Security Code on Credit Cards?

What is a High-Ratio Mortgage in Canada?

Difference Between Credit Union and a Bank in Canada

Mortgage Refinancing in Canada

5 Strategic Ways to Pay Off Credit Card Debt

HELOC vs Mortgage in Canada: How to Choose

Canada Apprentice Loan Explained

How Much is Real Estate Commission in Canada?

No Interest Loans in Canada: What to be Aware of

How Many Credit Cards Should Canadians Have?

How to Renew Your Mortgage in Canada

Canadian Investor Protection Fund (CIPF) Coverage Explained

What is a Hybrid Bank Account in Canada?

Air Miles vs Aeroplan: Choosing the Right Loyalty Program

Do Aeroplan Points Expire?

Porting or Transferring Your Mortgage in Canada

What is a Secured Loan?

What is Home Equity and How You Can Use It (Line of Credit and Loan)

Car loan vs Line of Credit: What’s the Difference?

How Does Credit Card Interest Work in Canada?

Aeroplan Points Value Explained

Which Professional Student Line of Credit Should You Choose? (BMO, Scotiabank, TD, RBC, CIBC)

What is Credit Limit?