Tag: credit cards

Ways to build and maintain good credit

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Ways to build and maintain good credit – CBS News

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“CBS Saturday Morning” dives into ways people can raise and maintain their credit score.

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February 7, 2026
The newcomer’s smart spending guide: Turn everyday purchases into rewards – MoneySense
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This guide breaks down which everyday spending categories earn the best rewards, how to choose a rewards program that fits your needs, and practical tips to help you build credit faster while keeping more money in your pocket.

Everyday spending categories that deliver the best rewards

If you’re new to Canada, chances are you’re already spending in many of these categories. Review the list below and think about where most of your money will go—those are the areas where rewards can add up fastest.
- Groceries: Weekly food shopping is often one of the biggest household expenses, making it one of the easiest ways to earn significant rewards.
- Transportation: Paying for monthly bus passes, rideshares, gas, and parking is another big-budget item that can really add up. For example, if you use the RBC More Rewards Visa, you’ll earn 5 points per $1 spent on gas, EV charging, dining, and purchases with grocery and pharmacy partners.
- Restaurants and dining: Whether you’re grabbing a quick bite to eat or stopping at a coffee shop for your morning espresso, you can earn rewards.
- Drugstores and pharmacies: As you settle in, you may spend more on household essentials and health items. This is another key rewards category to take advantage of.
- Recurring bills: Monthly expenses like your mobile phone, internet, streaming services, and utilities may seem small on their own, but they add up over time.
- Online shopping and services: Although most credit cards don’t specifically reward online shopping, nearly all cards earn base rewards on online purchases.
Essential vs. lifestyle purchases (and how to optimize both)

If you’re like many newcomers, you’re probably trying to stick to a budget. Part of holding yourself accountable is distinguishing wants from needs.

Essentials

Essentials fall squarely into the needs category, since these are things you can’t help but buy—we’re talking food, transportation, and household supplies. Utilities are recurring bills that also qualify as needs (though something like streaming services fall into the “wants” category).

Since you know you’ll have to make these purchases, look for a rewards credit card that offers the highest reward rates for these essentials. You’ll get the most back for your purchases and relying on one primary rewards credit card can help you track your spending and stay on budget.

The RBC Ion+ Visa gives 3x the Avion points for every $1 you spend on groceries, gas, dining, food delivery, rideshare, and streaming services. All other purchases earn you 1 point per $1. So, you can see how quickly you’d rack up points with a credit card that prioritizes everyday spending.

Lifestyle purchases

When you think of wants, eating out, catching movies or concerts, and furnishing your home all count as things that are nice to do, but not essential. Even so, you can still earn rewards by using the right credit card.

Since these might be occasional purchases in the early months of establishing your life in Canada, you might reach for a credit card that earns you a flat rate across all spending categories, like the RBC Cash Back Preferred World Elite Mastercard. You’ll get a steady 1.5% cash back on all your purchases—wants and needs.

How flexible rewards evolve with spending trends

When you first get a credit card after arriving in Canada, it’s natural to focus on a few key spending categories—but your budget and priorities will likely evolve. You may spend more on settlement costs and transportation in the early weeks. Over time, groceries and household expenses often take up a larger share of your budget, followed by bigger lifestyle purchases.

As your spending shifts, so can the way you use your rewards. Early on, cash back applied to your credit card balance may be the most helpful option. Later, you might prefer the flexibility to book travel, buy merchandise, choose gift cards, or mix and match different redemption options.

The strongest flexible rewards programs also help you get more value from your spending through merchant offers and seasonal promotions. Most importantly, they give you control over how you redeem your rewards. For example, RBC’s Avion Rewards program lets you book flights, transfer points to airline partners, donate points to charity, apply them toward financial products, purchase merchandise or gift cards, or redeem them as a statement credit—so your rewards can grow with you.

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6 smart spending strategies for newcomers

Using the right credit card isn’t the only financial move you need to make. Here are some of the most effective strategies for managing your money as a newcomer:
- Take advantage of welcome offers: If you open a credit card (or even bank account), most issuers give you the opportunity to earn a limited-time bonus for reaching spending milestones. Keep these promotions in mind when making purchases, but don’t overspend to chase the rewards.
- Track your early spending habits: Once you’ve been using a credit card for a month or two, take some time to pinpoint your high-earning categories. You might decide that a different credit card would reward you better, or you might find that you’re indeed using the best card for you.
- Charge your everyday purchases and recurring bills to a rewards card: Earn rewards for the things you need to buy. This is a smart money move so long as you pay off the card every month. It also simplifies bill payments.
- Make your payments on time: Whether you’ve got a credit card bill or a recurring utility payment due, prioritize paying your bills on time and in full. This helps you start building a solid credit score, which can get you better interest rates down the road.
- Don’t spend more than you can pay off: If you’re carrying a balance or paying late fees, interest charges quickly erase the value of any rewards you earn. Rewards only make sense if you pay your credit card balance in full and on time every month.
- Use digital tools to budget: When you choose a bank, familiarize yourself with its online tools and mobile app. These make it easy for you to track your spending and stay on top of the rewards you’ve accumulated.
If there’s one piece of advice to remember, it’s this: always make at least the minimum payment on your credit card, on time. Even if you can’t pay off the full balance every month, paying the minimum helps prevent negative information from being reported to Canada’s credit bureaus.

Building toward your personal goals starts with smart money habits—and establishing a strong financial foundation in Canada from the beginning.

Earning, saving and spending in Canada: A guide for new immigrants

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About Jessica Gibson

Jessica Gibson is a personal finance writer with over a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.
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Jessica Gibson

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January 28, 2026
Real money hacks to use when prices feel out of control – MoneySense

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In November 2025, Statistics Canada reported that the Consumer Price Index (CPI) was up about 2.2% year‑over‑year, driven by higher grocery and other household prices. Grocery prices alone rose almost 4.7% over the same period—one of the highest increases since late 2023.

Meanwhile, surveys show that Canadians are still feeling the squeeze. In late 2025, more than four in five Canadians cited inflation as a top concern, and more than half said their income is not keeping up with rising prices.

All of this makes saving money and finding creative ways to stretch the dollar not just desirable, but necessary. Personal finance gurus often offer the same basic advice—drop your daily coffee order, pack your lunch, cancel that subscription—and, yes, those things help. But there are other, more practical ways to put money back in your pocket that you might not be doing yet.

Below are some everyday hacks based on real tools and experiences Canadians have shared with me—and none of these is sponsored.

1. Get compensated for flight delays with Airfairness

Whether you’re heading home for the holidays or trying to grab a last‑minute getaway, flight disruptions are stressful, and expensive. What many travellers don’t realize is that if your flight is delayed more than three hours or cancelled, or you’re denied boarding due to overbooking, you may be entitled to compensation from the airline—and not just with gratuitous food vouchers.

Airfairness is a Canadian‑based online service that helps passengers claim this compensation—often up to several hundred dollars, without your having to navigate complicated airline rules yourself. It works by checking your flight details against eligibility and then helping submit a claim on your behalf. Companies like Airfairness have helped thousands of travellers recover money they didn’t even know they could claim.

If you’ve been out of pocket after a trip went sideways, this is one of those hacks that’s truly money you didn’t know you could have back.

2. Save on produce with OddBunch.ca

Grocery prices were one of the bigger pain points for Canadian households in 2025. While the headline inflation rate may look moderate, food prices, especially fresh produce and meat have grown faster than the overall Consumer Price Index.

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OddBunch.ca is a great way to cut that cost without sacrificing nutrition. It’s a grocery delivery service available in most provinces (not in Atlantic Canada—yet) that sources “odd” or imperfect fruits and vegetables that don’t meet visual retail standards but are otherwise perfectly good. Because these items would otherwise go to waste, they’re delivered at a significant discount—and it doesn’t matter if the produce isn’t picture‑perfect.

Many Canadians I’ve spoken to say their weekly grocery costs dropped noticeably once they started using this and similar services for basics like carrots, potatoes, apples and leafy greens.

3. Cut prescription costs with InnoviCares

Prescription drugs are a huge part of many household budgets, and brand‑name medications can be shockingly expensive if you’re paying out of pocket. InnoviCares is a free prescription savings card used across Canada that helps you lower the cost of brand‑name medications by applying eligible savings at the pharmacy.

You present the card when your pharmacist fills a prescription, and the discount is applied automatically if your medication is covered. The best part? It works in addition to your existing insurance plan, not instead of it, so you don’t have to choose between the two. It’s not available for every drug, but for those where it is, this can mean tens or even hundreds of dollars saved annually, at no cost to you. Millions of Canadians have already used this card to cut their drug costs without switching brands.

4. Buy used books (even on Amazon) instead of paying full price

Let’s be honest, books are expensive. Fiction, non‑fiction, textbooks, manuals—they add up. One simple way to save when you want a book but your budget says “maybe later” is to buy it used.

Platforms like Amazon’s used books marketplace often list the same title at a fraction of the new‑price cost. The books are typically in good condition, may ship at low cost or for free if you have a Prime membership, and you still get the same content for much less. It’s a small habit, but over time it can save a surprising amount while still letting you read what you want, when you want.

Earning, saving and spending in Canada: A guide for new immigrants

5. Time rewards offers on credit and loyalty programs

Most Canadians carry at least one rewards credit card, and many don’t use them strategically. One easy hack is to pay attention to bonus offers, spot promotions and point multipliers, and to time your purchases accordingly.

Drug stores, gas stations and large retailers, for example, frequently run 4x or 5x points promotions for certain categories. If you’re planning a pharmacy run or a fill‑up anyhow, doing it during a promotion can dramatically increase your points earnings, which you can redeem for travel, statement credits or gift/grocery cards later. This doesn’t mean spending money you wouldn’t otherwise spend, but it does mean you squeeze more value out of everyday expenses.

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Vickram Agarwal

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January 20, 2026
It come down to Trump using political pressure to force banks to cap interest rates on credit cards | Fortune

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President Donald Trump a week ago told the credit card industry it had until Jan. 20 to comply with his demand for a 10% cap on interest rates. With just days to go, consumer groups, politicians, and bankers alike remain unclear on what the White House has planned and whether Trump even remains serious about the idea.

So far, the White House has not provided any detail about what will happen to credit card companies that don’t lower card rates. White House Press Secretary Karoline Leavitt said the president has “an expectation” that credit card companies will accede to his demand that they cap interest rates on credit cards at 10%.

“I don’t have a specific consequence to outline for you but certainly this is an expectation and frankly a demand that the president has made,” she said Friday.

A researcher who studied Trump’s proposal when Trump first floated it during the 2024 presidential campaign found that Americans would save roughly $100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back. The administration has amplified that research, posting it on one of the White House’s official Twitter pages.

Bank lobbyists, many who have been spending much of the past week scrambling to figure out what the White House has planned for their industry, have been left in the dark. There have been bills introduced into both houses of Congress by both Republicans and Democrats this year and years past, but House and Senate Republican leadership have been cold to the idea of passing a law capping interest rates.

The Dodd-Frank Act, the law passed after the 2008 financial crisis that overhauled the financial industry, explicitly prohibits at least one federal bank regulator from setting usury limits on loans.

Without a law or executive order, it may simply come down to Trump using political pressure to force the credit card industry to do what he wants, as he’s done with other industries. For example, Trump demanded that pharmaceutical companies cut drug prices, which resulted in some pledges by drug industry CEOs to do what he asked. Trump also demanded chip makers and tech companies move production to the U.S., which also resulted in companies like Apple committing to build more manufacturing capacity domestically.

Wall Street has little interest in an all-out war with the White House, especially as banks have benefitted from the industry-friendly, deregulatory agenda that Trump administration has provided so far. The One Big Beautiful Bill, signed in to law in July, pushed another significant round of tax cuts. And deregulation pushed companies to embrace dealmaking last year, which led to a steady stream of investment banking revenues and fees to the big banks.

When it comes to credit card rates, the messaging out of the bank lobbying groups and bank executives has been two-fold: They have pushed back on the cap but in the same breath have offered to work with the White House.

In a call with reporters on Tuesday, JPMorgan’s Chief Financial Officer Jeffrey Barnum indicated the industry was willing to fight with all resources at its disposal to stop the Trump administration from capping those rates. JPMorgan is one of the nation’s biggest credit card companies. Its customers collectively holding $239.4 billion in balances with the bank, and it has major co-brand partnerships with companies such as United Airlines and Amazon. JPMorgan also recently acquired the Apple Card credit card portfolio from Goldman Sachs.

Mark Mason, Citigroup’s chief financial officer, told reporters on Wednesday that a cap “is not something we could or would support,” saying it would restrict credit to consumers and harm the economy. But at the same time, Mason said, “Affordability is a big issue, and we look forward to collaborating with the administration on ways we can address this.”

Trump took further aim at the card industry when he endorsed a bill in Congress that could negatively impact the amount of money banks earn from merchants every time a customer swipes their card.

Not all companies are waiting for Trump’s next move.

Fintech company Bilt launched a new set of credit cards this week and said it would cap customers’ interest rates at 10% on new purchases for a year. While effectively a promotional rate that other credit card companies have used in the past, Bilt’s move could provide an example of how the credit card industry can meet the White House’s demands without fundamentally destroying their business model.

“If (a credit card rate cap) is going to happen, we’d rather be at the forefront,” Ankur Jain, Bilt’s CEO, said in an interview earlier this week.

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Ken Sweet, The Associated Press

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January 17, 2026
What New Year’s credit deals promise—and why you should be wary – MoneySense
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Credit card debt in Canada
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Keph Senett

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January 15, 2026
Credit card interest rates: How high is too high? – MoneySense

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Credit card rate caps spark debate

The Canadian Bankers Association said in a statement Monday that Canada’s credit card market is highly competitive and well regulated.

“Regulatory interventions aimed at artificially capping credit card interest rates can lead to unintended consequences that harm consumers, such as reducing credit availability for many Canadians and business owners,” said spokeswoman Nathalie Bergeron in an email. “Such a cap could drive customers towards more costly alternatives and reduce the value that all consumers receive from credit cards.”

Conacher, who’s been pushing for lower credit card rates in Canada for decades, said that banks always say they’ll have to stop offering credit to some, but never provide proof. “Whenever the banks say we wouldn’t be able to afford, we wouldn’t have these margins, and then as a result, we’d have to cut off people, they should be required to prove that’s true,” he said. “No one should accept it at face value, given their profit levels.”

He pointed out how credit card rates have stayed the same, generally hovering around 20%, despite wide fluctuations in interest rates over the last two decades, as evidence there is room to reduce.

Best low interest credit cards in Canada

Studies suggest rate caps could save billions

Research in the U.S., after Trump first put out the plan as a campaign pledge, found that Americans would save about US$100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back.

In remarks from late 2024 to a parliamentary committee, the banking association’s senior vice-president for banking policy, Darren Hannah, said that 71% of Canadians pay off their balance every month, while there are also some lower-interest card options. He said credit cards offer great value to consumers, that there are some options to switch credit card debt to instalment loans at potentially lower interest, and that the industry has worked with consumers during tough times like the COVID-19 pandemic when it provided deferrals on credit cards.

What didn’t happen during the pandemic though, was much of any change in credit card interest rates. The lack of change, despite the historically low Bank of Canada policy rate, prompted the Canadian Labour Congress to call for a better response from banks in 2020.

Related reading: Credit card interest calculator

Federal interest caps stop short of credit cards

The question of what level of interest rate is acceptable is an age-old question, but one the federal government has worked to tackle recently. Ottawa officially lowered the maximum allowable interest rates on loans to 35% on an annual percentage rate from 48%, while separately setting out lower maximums for payday loan charges. The change wasn’t enough to affect credit cards, though.

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And while interest rates are certainly key, it’s also important to look at hidden charges and other costs like interchange fees, said Claire Celerier, Canada Research Chair in household finance at the University of Toronto’s Rotman School of Management. “The risk is that if you cap the interest rate and if there is no cap on late payment fees, interchange fees, and so on, banks are going to recover by increasing all the other fees.” Such fees are generally more hidden than the interest rate, raising the potential of further distorting the market.

Lower-income cardholders tend to bear hidden costs

Low-income people can sometimes shoulder a disproportionate share of fees, like the interchange fee charged to merchants, because while stores spread out the costs among all shoppers, high-earners get some costs back in credit card rewards. “I think what Trump is doing, the effect is that banks are going to increase their fees and it will be at the expense of the poor.”

The federal government in 2024 did secure an agreement on reduced interchange fees, though the rates still stand much higher than in Europe.

Derek Holt, vice president of Scotiabank Economics, said in a note Monday that a lowering of the cap on rates would also likely mean higher monthly minimum payments, card companies raising other fees and many losing access to free credit. “In short, education and efforts to raise financial literacy may be more effective than rate caps and so could efforts to address severe income disparities within the U.S. economy that are not the fault of the cards industry.”

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About The Canadian Press

The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

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January 15, 2026
Can Trump unilaterally cap credit card interest rates?

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Amid voter concern about the economy and affordability, President Donald Trump announced a new policy: a 10% cap on credit card interest rates for one year.

A Jan. 10 White House X post included an image of Trump’s Truth Social post from the previous day that said in part, “Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%.”

On Jan. 11, two days before a planned economic-themed speech in Michigan, Trump discussed the policy with reporters on Air Force One.

A reporter asked, “What happens if the credit card companies don’t comply by the January date you set?”

Trump said, “Well, … then they’re in violation of the law.” He added that credit card companies have “really abused the public. … I’m not gonna let it happen.”

There’s a problem with Trump saying credit card companies would be violating the law: There is no such law capping rates at 10%.

Trump has talked about implementing one since the 2024 presidential campaign. “We’re going to put a temporary cap on credit card interest rates at 10%,” he said in September 2024.

PolitiFact is tracking updates on this pledge as part of our MAGA-Meter roster of 75 second-term Trump campaign promises. The capped-rate promise is Stalled because legislation in Congress has not advanced much beyond being introduced.

At the time of publication, the White House had released no further details.

Even an executive order would be unlikely to carry legal weight, experts said. Executive orders are directives that manage operations of the federal government; they are typically not tailored to private-sector companies such as credit card issuers.

“I think it’s obvious there can be no violation of law unless and until there is an actual law,” said Ilya Somin, a George Mason University law professor. The exception would be if a previous Congress had empowered the president to set credit card rates, which none have.

University of North Carolina law professor Michael Gerhardt agreed: “I doubt the order, if that is what it is, is constitutional, given that this rule should come from Congress.”

We asked the White House for the authority under which credit card companies would be defying a law, but we received no response.

Trump’s renewed push on the issue could give existing legislation a boost in the coming days. On Jan. 12, the top Democrat on the Senate Banking, Housing and Urban Affairs Committee — Elizabeth Warren of Massachusetts — said she and Trump had talked about the prospects for credit card interest rate cap legislation.

The potential for bipartisan collaboration comes as the Federal Reserve Bank of New York has counted $1.23 trillion in U.S. credit card balances in the third quarter of 2025, a record level.

Lawmakers ranging from Sen. Bernie Sanders, I-Vt., on the left to Sen. Josh Hawley, R-Mo., and Rep. Anna Paulina Luna, R-Fla., on the right have urged a cap on credit card interest rates. “We cannot continue to allow big banks to make huge profits ripping off the American people,” Sanders and Hawley said in a joint press release last year.

But passing a law to implement a 10% cap through both chambers by Jan. 20 would be a heavy lift.

A rate cap “is something the financial industry will fight hard,” Ted Rossman, a Bankrate senior industry analyst, told CNBC. “This would be a huge hit to banks, credit card lenders and payment networks.”

A joint statement by the American Bankers Association, the Bank Policy Institute, the Consumer Bankers Association, the Financial Services Forum and the Independent Community Bankers of America said a 10% cap would “would reduce credit availability” and be “devastating for millions of American families and small business owners.”

Trump could simply assert that the 10% rate cap is legally binding and wait to defend that position in court.

Such a position “ought to be struck down in the courts, but we will have to wait to see if the courts, in fact, do that,” Gerhardt said.

Our ruling

Trump said credit card companies would be “in violation of the law” if they don’t cap interest rates at 10% by Jan. 20.

When he said this, no law dictating a 10% rate cap was on the books, and passing one through both chambers in just over a week would be a major challenge.

Legal experts said an effort to impose an executive order on private-sector companies would be unlikely to succeed in the courts, though Trump could issue one nonetheless.

But as we published this fact-check, there was no law and no executive order. We rate Trump’s statement False.

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January 12, 2026
Trump calls for one-year cap on credit card rates at 10% | Fortune

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President Donald Trump on Friday called for a one-year cap on credit card interest rates at 10%, effective Jan. 20, without specifying details.

“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY!” he wrote on social media.

It’s not clear whether credit card companies will respond to his call, or what actions he might take to force any change.

The post comes as the Trump administration intensifies efforts to demonstrate to voters that the president is addressing concerns about costs and prices that have emerged as a central issue in the November midterm elections.

During the 2024 presidential campaign, Trump pledged to seek limits on the interest credit card companies can charge.

Hours before his message on Friday, Senator Bernie Sanders, a Vermont independent, said on X: “Trump promised to cap credit card interest rates at 10% and stop Wall Street from getting away with murder. Instead, he deregulated big banks charging up to 30% interest on credit cards.”

In a letter last year to Sanders and Senator Josh Hawley, a Missouri Republican, a group of banking trade groups painted a dire outcome for consumers if the government ever capped interest rates on credit cards at 10%, as the senators had proposed.

“Many consumers who currently rely on credit cards would be forced to turn elsewhere for short-term financing needs, including pawn shops, auto title lenders or worse — such as loan sharks, unregulated online lenders and the black market,” the group wrote.

The Bank Policy Institute said in a report last year that “while the proposed cap is a well-intentioned effort to reduce the high debt burden some households are facing, it would harm consumers’ access to card credit.” The group also said such a move could force card issuers to reduce cardholder benefits, including lucrative rewards tied to purchases.

Responding to Trump’s post on Friday, Hawley said on X: “Fantastic idea. Can’t wait to vote for this.”

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Romy Varghese, Bloomberg

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January 9, 2026
Trump urges credit card companies to slash interest rates to 10% for one year

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President Trump is calling for a 10% cap on credit card interest rates for one year, an idea that has drawn strong support from lawmakers in both parties but pushback from card issuers.

“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration,” the president wrote on Truth Social late Friday.

Mr. Trump said the cap on interest rates should begin on Jan. 20, 2026, or the one-year anniversary of his second inauguration.

Credit card interest rates currently average over 20%, according to Federal Reserve statistics, so a 10% cap would represent a significant cut in borrowing costs.

It’s unclear if the president will attempt to enforce his proposed 10% cap through some kind of executive action, or if his goal is to pressure credit card issuers to slash their rates voluntarily. CBS News has reached out to the White House and some of the largest credit card issuers in the U.S. for comment.

Supporters point to trillions in credit card debt

The idea of capping credit card interest rates has drawn bipartisan support. Last year, Republican Sen. Josh Hawley of Missouri and independent Sen. Bernie Sanders of Vermont, who caucuses with Democrats, teamed up to introduce legislation that would impose a 10% cap. A similar measure was also introduced in the House by Democratic Rep. Alexandria Ocasio-Cortez of New York and Republican Rep. Anna Paulina Luna of Florida.

Other recently proposed legislation would impose less stringent caps on fees and interest rates.

Mr. Trump also called for temporarily capping interest rates at 10% on the campaign trail. Hours before the president’s late Friday Truth Social post, Sanders criticized Mr. Trump on X for not following through on his pledge to limit interest rates.

Supporters of the idea say it would aid scores of Americans who are languishing under mountains of credit card debt, and argue that credit card issuers can afford to cut their rates.

Americans owed a total of $1.23 trillion in credit card balances in the third quarter of last year, the highest level on record, according to the Federal Reserve Bank of New York. A 2024 study by NerdWallet found that the average U.S. household with credit card debt owed $10,563. Meanwhile, the Consumer Financial Protection Bureau found in 2023 that credit card rates have soared “far above the cost of offering credit.”

“We cannot continue to allow big banks to make huge profits ripping off the American people,” Sanders said in a joint press release with Hawley last year.

Said Luna: “For too long, credit card companies have abused working class Americans with absurd interest rates, trapping them in an almost insurmountable amount of debt.”

Opponents argue a credit card rate cap could backfire

But opponents of a cap, including banks and other credit card issuers, warn that limits on interest rates may force lenders to stop issuing credit cards to many riskier borrowers.

A coalition of groups that represent banks — including the American Bankers Association and the Bank Policy Institute — argued in a statement to CBS News on Friday that a 10% interest rate cap “would reduce credit availability and be devastating for millions of American families and small business owners who rely on and value their credit cards, the very consumers this proposal intends to help.”

The Bank Policy Institute estimated last year that more than 14 million American households that rarely pay their credit card balances in full could have their access to credit eliminated or curtailed by a 10% cap. Millions of people who sometimes pay off their balances could also face new restrictions, the group said.

The American Bankers Association has argued in the past that if credit card issuers end up needing to cut off access for “all but the lowest-risk customers,” many people who are in need of loans would be forced to shift to “less regulated alternatives” that often charge even higher rates, like payday lenders and pawn shops.

Billionaire investor Bill Ackman, who backed Mr. Trump in his 2024 campaign, called the idea a “mistake.” He wrote on X that if card issuers are prevented from charging high enough interest rates to cover their losses and earn solid returns, “credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks.”

Scott Simpson, CEO of the trade group America’s Credit Unions, told CBS News in a statement: “While we appreciate the President’s desire to increase affordability, the plain truth is that capping rates at 10% does not make credit more affordable, it makes it unattainable for millions of working Americans because financial institutions will not be able to offer credit cards to most consumers at a 10% rate.”

The Electronic Payments Coalition — which represents credit card issuers and payment networks — said “a one-size-fits-all 10% cap risks making things worse by reducing access to credit and limiting choice.”

Trump pledges to deal with affordability

The push to cap credit card interest rates is the latest proposal by Mr. Trump to cut borrowing costs, as he grapples with widespread concerns about affordability.

Earlier this week, Mr. Trump directed the federal government to buy $200 million in mortgage bonds using cash from Fannie Mae and Freddie Mac, in an effort to drive down mortgage rates.

The president has also urged the Federal Reserve to more aggressively cut its benchmark interest rate, which influences borrowing costs for everything from mortgages and car loans to commercial loans — though rate cuts by the Fed could run the risk of causing inflation to surge.

Mr. Trump is expected to nominate a new Federal Reserve chair in the coming weeks, and told reporters last month he’s “looking for somebody that will be honest with interest rates.”

Emma Nicholson and Ryan Sprouse contributed to this report.

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January 9, 2026
Does your credit score reset in the new year?
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Sometimes you just need a fresh start. For many people, the new year represents exactly that: a time to wipe your slate clean, reset intentions, and start building new habits.

Does that mean you can reset your credit scores in the new year and start fresh? Unfortunately, credit scores don’t “reset.” In fact, many people will see their credit scores drop in the new year due to debt they took on during the holidays.

But that doesn’t mean you’re stuck with bad credit forever. Credit scores are shaped by long-term behavior, making consistency far more powerful than timing.

Your credit score calculation can change as often as every 30 days.

That’s because your debt activity is typically reported to the credit bureaus monthly. And when any new information shows up on your credit reports, your credit scores will change accordingly.

In other words, it’s normal to see your credit scores fluctuate each month. Just don’t expect major changes to happen in a short time. In my experience helping thousands of consumers improve their credit, it typically takes at least a year to gain 80 points or more.

Read more: Can you raise your credit score by 100 points overnight?

Your credit scores can change any time the information in your credit reports is updated. If the update is positive, such as a reduction in your loan balances or the removal of an error from your reports, you might see your credit scores go up.

If there’s a negative change to your debt situation, you can expect to see your credit scores drop. Around the holidays, many people experience this due to new debt they incur for gifts, travel, or holiday parties. In fact, 79% of people said they’d cover these expenses with credit cards during the 2025 holiday season, according to a survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).

Here’s an overview of the main activities that cause your credit scores to drop:
- Filing bankruptcy
- Having a bill go to collections
- Missing a debt payment
- Increasing your debt
- Opening a new loan or credit card, including buy now, pay later (BNPL) loans
- Closing loans or credit cards
- Applying for multiple new debt accounts in a short time period
Read more: 8 common reasons why your credit score could have dropped

Whether you’ve racked up holiday debt or you’re just looking for ways to gain points, there are a lot of ways to improve your credit scores. Here are a few of the best options.

The AICPA survey found that 17% of people say it will take them more than six months to pay off their holiday debt. If that includes you, choose one or more of these strategies and resources to help you speed up the process and regain the credit score points you lost during the holidays:
- Consolidate debt: Consider using a personal loan to pay off your credit card debt. Since the average interest rate on personal loans is much lower than credit cards (11.14% versus 21.39%, respectively), paying off credit cards with a consolidation loan can help save you money on interest charges and get out of debt faster.
- Cut spending: Reduce your nonessential expenses for a few months to free up more money for debt repayment.
- Credit counseling: Reach out to an NFCC-certified credit counseling agency to get help adjusting your budget, reviewing your credit reports, and finding out if you qualify for debt management services.
It can take years of practicing healthy financial habits to build excellent credit. If you want to see growth in your scores that lasts for the long term, always practice these habits:
- Make at least the minimum payments by the due date on all of your debts. The goal is to get to a place where you can pay off your credit cards in full each month.
- Avoid using high-interest and high-risk products to cover expenses, including credit cards, BNPL agreements, and payday loans. Instead, rely on your emergency savings in a pinch — or if necessary, consider a personal loan or borrowing money from a loved one.
- Pull your free credit reports from AnnualCreditReport.com at least twice a year. Monitor your reports for signs of identity theft and to dispute any errors you find.
Read more: Is it possible to achieve a perfect credit score of 850?

You can also try to get help from a loved one with good credit. If you have a spouse or family member who is willing to help, ask them to add you as an authorized user to one of their credit cards. If they do, their full account history will appear on your credit scores, which will help you gain points faster.
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January 6, 2026
How cashback credit cards work – MoneySense
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The cash back you earn accumulates in your account and can be redeemed as statement credit, direct deposit, or sometimes as gift cards, merchandise, or money towards a future purchase. The key is to pay off your balance in full every month, since carrying a balance can wipe out any rewards you earn due to interest. Let’s get into it.

Featured cashback credit cards

featured

Best instant approval cash back card

SimplyCash Card from American Express

Earn a minimum of 1.5% cash back on all purchases, and 3% on U.S. dollar purchases. Redeem rewards when you want.

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Interest Rates:
21.99% purchase, 21.99% cash advance, N/A balance transfer

Welcome offer:
$100 value

Earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back.

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Silver: Best cash back card

CIBC Dividend Visa Infinite Card

Earn 4% cash back on gas and groceries, and save at the pump with exclusive fuel discounts.

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Interest Rates:
21.99% purchase, 22.99% cash advance, 22.99% balance transfer

Welcome offer:
$250 value

Join and earn over $400 in value including a first year annual fee rebate.†

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Bronze: Best cash back card

SimplyCash Preferred Card from American Express

Get a minimum of 2% cash back on all your purchases—one of the highest base rates in Canada.

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Interest Rates:
21.99% purchase, 21.99% cash advance, N/A balance transfer

Welcome offer:
$250 value

Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.

What is a cashback credit card?

A cashback credit card is a type of rewards card that gives you a percentage of your spending back in the form of cash. Depending on the card, this could be a flat rate on all purchases, or tiered rates based on shopping categories (like 4% for grocery, 2% for transit, and so on).

Compared to points or travel rewards cards, cashback cards are the most flexible. With cash back, the value is fixed. You’ll always know exactly what you’re earning and how you can use it. Points cards, on the other hand, tie your rewards to a specific program (like PC Optimum or Scene+), which can be great if you’re loyal to those retailers but more restrictive overall. Travel rewards cards can take it one step further in terms of overall value, especially when redeemed strategically for flights or hotel stays, but it’s more complex to get the full value out of those points.

Let’s take a look at some of the clear differences between cash back credit cards and travel rewards/points cards:

The bottom line: Cashback credit cards are best for simplicity and flexibility, and they offer a guaranteed discount on your spending. Travel rewards cards or points cards suit cardholders that want to maximize value on travel related purchases and can be trickier to get the most value out of.

How cashback credit cards work (aka how to earn cash back)

Cashback credit cards all work on the same principle. You earn a percentage of your purchases back as cash. How you earn varies depending on the card, though.

Flat rate rewards

These cards keep things simple by offering the same cashback rate on every purchase. You don’t have to track categories or spending caps, just swipe and earn. The earn rates tend to be a bit lower as a result of the flat rate, however. The Home Trust Preferred Visa is an example of this type of card.

A 1.5% flat-rate card like the Rogers Red World Elite Mastercard gives you $1.50 back for every $100 spent (and 3% on USD purchases!), no matter what you buy.

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Boosted earn rates

Many cash back cards offer higher rewards in certain categories while giving a lower base rate on everything else. This makes them especially valuable if your biggest expenses align with the boosted categories.

The Scotiabank Momentum offers a whopping 4% back on groceries and recurring payments, 2% on gas and transit, and 1% on all other purchases. It typically offers a generous welcome bonus, too.

Pro Tip: Look for cards that match your biggest expenses. A 4% grocery card is only worth it if groceries are a large share of your monthly budget.

Custom or rotating boosted rewards

Some cards let you choose your own bonus categories, while others rotate them automatically. This gives you a bit more flexibility, but also requires more attention to detail.

With a card like the Tangerine Money-Back Card, you pick 2–3 categories to earn extra cash back in—and you can change them every 90 days. Cards like the CIBC Adapta Mastercard automatically boost whichever categories you spend the most on each month.

Pro Tip: Always pay your balance in full. Carrying even a small balance at 20% interest can wipe out months of rewards quickly.

How to redeem your cash back

Earning rewards is only half the story, redeeming them is where you see the value. Most cashback credit cards give you a few options:
- Statement credits: The most common method. You apply your cash back directly to your credit card balance, lowering what you owe.
- Direct deposit or cheque: Some issuers allow you to transfer your rewards straight to your bank account or request a mailed cheque.
- Automatic redemption: With certain cards, your cash back is automatically applied once you reach a set threshold.
Gift cards or merchandise: A few programs allow redemption for retailer gift cards or purchases through the issuer’s online rewards story, or even cash off a purchase.
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Thomas Kent

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January 2, 2026
Scammers are staking out Americans’ front doors in a wily new debit card scheme. How the scam works and what to do

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Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

You may think that credit cards are the payment method most targeted by financial fraudsters, but that’s not true. It’s, in fact, debit cards that fraudsters pursue most — and the number of cases involving them keeps increasing, according to a Federal Reserve survey of financial institutions (1). And the reasons why this may leave you more vulnerable to financial loss may also surprise you.

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When you think of debit card scams, you might imagine people having their debit cards physically stolen or their card numbers and PINs skimmed. But there are other debit card scams on the rise that are even more complex. And, as with other scams, having information on how they work may mean the difference between keeping your finances intact and becoming the next fraud victim.

As the Detroit Free Press recently reported, new debit card scams are popping up and gaining momentum (2). One of the most bizarre ones starts with banking customers being warned that there’s a problem with their account, which is a common theme for financial scams.

Next, victims are told to destroy their debit cards but leave the chip on the front of the card intact for security purposes. The scammers then steal the chips by sending a “bank representative” out to pick up the destroyed cards with the chips intact and use social engineering to get the PIN numbers needed to use the cards. With the chip and the PIN, they can then steal funds from the victim’s bank account.

Of course, debit card fraud isn’t the only thing consumers have to worry about. Check fraud has also been on the rise, increasing 10% in 2024 from the prior year, the Federal Reserve survey also found.

The Independent Community Bankers of America has been working with the U.S. Postal Inspection Service to educate customers on check fraud via handouts at different banking locations.

Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)’

Financial fraud is a problem in general, although, as a consumer, you may be at risk of greater losses if your debit card or checking account is targeted.

Under the Fair Credit Billing Act, consumers are limited to $50 in losses for fraudulent credit card transactions that are reported within 60 days (3). However, most credit cards offer full protection, meaning if your card is stolen or used by a criminal, you probably won’t lose a dime.

Debit cards don’t typically offer the same protection. When your debit card is stolen or accessed by a criminal, the money comes out of your account immediately.

If you report the fraud within two business days, you’re limited to $50 in losses. If you report the fraud after two days and within 60 days, you’re limited to $500 in losses — not an insignificant amount. Worse yet, if you report the fraud after 60 days, you could lose the entire sum that was stolen from you (4).

With checks, timeframes vary. The law says consumers have a year to report check fraud, but there is some leeway. For example, many banks require notification within 30 days, while others expect to be alerted within 14 days after the bank statement was sent out (5).

As a consumer, it’s important to take steps to protect yourself against debit card and check fraud. That includes knowing about the latest scams, including the one mentioned above.

But that doesn’t mean a criminal won’t try to steal your money another way. Perhaps they could steal a replacement debit card from you in the mail or steal checks you’ve written, altering the payee and cashing them.

One option you could look at for protection is to install a mailbox lock where the incoming mail slot remains accessible while the storage part remains locked to anyone who doesn’t have the key. That could prevent a criminal from getting into your mail while allowing a mail carrier to deliver it.

You can also install a security camera outside your home that covers the area of your mailbox. However, this may only offer limited benefits. If a criminal is going to steal your mail, chances are they’re going to wear enough gear to mask their identity.

For debit cards, other fraud prevention methods include always knowing where your card is, covering the keypad when you enter your PIN, and, when buying things online, making sure you shop on a legitimate, secure site while avoiding public WiFi networks.

In addition, look out for loose components on debit card readers at merchants. That could be an indication that a machine has been tampered with and a skimmer has been installed.

Other tips include monitoring your bank account regularly to check for fraudulent transactions and never responding to an unsolicited call, email or text that appears to be from your bank. If you have a concern, call your bank directly or visit a local branch.

Also, never give out your account or PIN over the phone. The same goes for your Social Security number (or other personal sensitive information as a general rule). Having this information could make it easy for a criminal to steal money from your account, and in some cases, steal your identity.

When it comes to checks, fraud prevention methods include writing checks with permanent markers or having them sent electronically from your bank. With the latter, there’s a record with your bank of the intended payee, so it may be easier to prove that fraud has occurred.

It’s also a good idea to bring checks to a post office and have them mailed out directly rather than leaving them in your mailbox to be picked up by a mail carrier. Delivering checks in person is another secure option.

Online scams are on the rise, with the FBI reporting that in 2024, Americans were scammed out of $16 billion by online fraudsters, a 33% increase over 2023 (6). The same year, the FTC reported that the dollar amount for losses from online scams was projected to grow.

To protect yourself and your loved ones from these online scammers, consider using a scam alert service like Aura.

Aura’s online scam tracker uses AI monitoring to look for unusual transactions, sending alerts for any suspicious or significant activity within minutes. Their U.S.-based fraud experts are available 24/7 to ensure you can find accurate information and resolve the situation quickly.

Aura also offers credit monitoring, identity theft protection and parental controls so you can ensure your children don’t fall prey to these fraudsters. Plus, Aura delivers fraud alerts up to 250 times faster than other services of this kind.

Sign up today to enjoy this extra layer of security when shopping online.

Ultimately, prevention is your best defense, so be proactive in learning about the latest safety measures and how scammers try to circumvent them.

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Federal Reserve (1); USA Today/Detroit Free Press (2); Cornell Law School Legal Information Institute (3); Michigan Consumer Protection (4); Time (5); FBI (6)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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December 24, 2025

BMO eclipse rise Visa Card Review – MoneySense

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With our BMO eclipse rise Visa review, we’ll walk you through the basics of the card and the important details you should be aware of before applying.

Who is the BMO eclipse rise Visa best for?

If you’re a student, newcomer, or someone who’s building their credit score and income, the BMO eclipse rise Visa card is a good option. You can build your credit while participating in the BMO Rewards program and enjoy basic features, such as mobile device coverage.

BMO eclipse rise Visa: The basics

featured

BMO eclipse rise Visa Card

Annual fee: $0

Rewards: 5x Five times the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.

Welcome offer: Get 20,000 points and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee. Plus, earn up to 5,000 bonus points every year.

Card details

Interest rates	21.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents)
Income required	None
Credit score	None

To give you a quick idea of whether or not this card might have the features and benefits you’re looking for, check out its basic characteristics.

Earn rates	5 points per $2 spent at dining, groceries, recurring bills, and takeout1 point per $2 spent on everything else
Insurance included	Extended warrantyPurchase protectionMobile device
Special perks and features	Participates in the BMO Rewards programBalance transfer promotionAnnual bonus opportunity when you pay on timeWelcome bonusAvailable to students and newcomers7 cents off per litre at Shell
Fees	2.5% foreign transaction fee on purchases made outside Canada.
Minimum credit limit	Any amount
Supplementary card cost	$0

Pros and cons of the BMO eclipse rise Visa

Every card has benefits and drawbacks to consider. Think about these points before submitting your application.

Pros:

Easy to qualify for: Students and newcomers will find it especially easy to qualify, since there’s no income requirement.
No annual fee: The rewards you earn are simply money back in your pocket since you’re not paying to use the card.
Free supplemental cards: Feel free to add an authorized user to your account since there’s no additional cardholder fee.

Cons:

Low earn rate: Compared to other no fee credit cards, this card doesn’t earn reward points as quickly, and bonus categories are limited.
Limited insurance coverage: You’ll get basic extended warranty and purchase protection plus mobile device coverage, but no travel insurance.
Low point value: BMO Rewards points aren’t as valuable as other reward program points, especially if you’re not using your points for travel.

BMO eclipse rise Visa rewards explained

This entry-level BMO credit card is fairly straightforward in how it earns BMO Rewards points.

You’ll get 5 points per $2 spent on:

Dining
Groceries
Takeout
Recurring bills

There might be some variation in how stores are categorized, so take a look at your bank statement to see if you’re earning increased rewards. Look for the merchant code “Grocery” or “Dining”. Warehouse clubs, big-box retailers, and discount stores may not code as grocery.

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BMO caps increased earnings at $5,000 after you spend on groceries, dining, takeout, and recurring bills in a year. After you max out, you’ll continue to earn the base rate of 1 point per $2 spent.

Find the perfect card with CardFinder

In under 60 seconds, get matched with a personalized list of the best credit cards based on your spending personality and approval likelihood. No SIN required.

BMO eclipse rise Visa perks and benefits

Sometimes, a card’s features are more important than its reward structure. This is especially true if you’re trying to qualify for a card or move your existing credit card balance.

Balance transfer promotion

If you have existing credit card debt with a card not issued by BMO, you can transfer your balance to the eclipse rise Visa and enjoy a 0.99% interest rate on it for 9 months. You will have to pay a 2% transfer fee, but the low balance transfer interest rate lets you quickly pay down your current credit card debt.

Canada’s best credit cards for balance transfers

Annual bonus rewards

BMO rewards you for making consistent payments. If you pay your balance in full every month for 12 months, you’ll get 2,500 bonus points. And, if you redeem at least 12,000 BMO points for statement credits during a year, you’ll get another 2,500 points.

Flexible redemption options

Of the three no-fee credit cards BMO offers, only the eclipse rise Visa gives you BMO Rewards points. You can redeem these for travel with any provider for the most value. Otherwise, you can use the points for BMO investments, request gift cards or prepaid credit cards, purchase merchandise, redeem them for Apple products, or apply them towards your statement balance. The choice is completely yours.

What cardholders think

We always like to search for feedback from real cardholders, but when we turned to Reddit to learn more about the BMO eclipse rise Visa, we were surprised by the lack of discussion.

One cardholder simply said it was the best no-annual-fee travel card, and another considered applying for the card just to get the mobile device coverage.

After searching for feedback, we found most cardholders are talking about the BMO eclipse Visa Infinite, which has an annual fee but offers better earn rates in the BMO Rewards program (as well as better insurance coverage).

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Jessica Gibson

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December 11, 2025

Credit card interest calculator – MoneySense
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Play around with our credit card interest calculator to calculate credit card interest and figure out how long it will take you to repay the debt. This tool can help you develop a plan to address your balance and avoid paying interest going forward.

How to use the credit card interest calculator

Our credit card interest calculator can help you figure out two key pieces of information:
- How much money you’ll pay in interest based on your current monthly payment
- How many months it will take to pay off your credit card balance
Start by inputting your credit card balance and your card’s annual percentage rate (APR). If you don’t know this number, log into your credit card account and pull up your card’s terms and conditions.

Next, decide if you want to see how much total interest you’ll pay based on your current monthly payment (and enter that amount) or specify your payoff goal in months to see how the total interest charges.

How to calculate credit card interest

Since interest is expressed as an annual percentage rate, card issuers take several steps to determine how much to charge each month. Here’s how you can figure out their method:
1. Convert your APR to a daily rate. Most issuers charge interest daily, so divide the APR by 365 to find the daily periodic interest rate. Make sure you’re using the purchase interest rate (not the cash advance or balance transfer rate).
2. Figure out your average daily balance. Check your credit card statement to see how many days are in the billing period. Then, add up each day’s daily balance, including the balance that carried over from the previous month. Once you have all the daily balances, divide the figure by the number of days in the billing period to find your average daily balance.
3. Multiply the balance by the daily rate, then multiply the result by the number of days in the cycle. Now that you have all the details you need, multiply the average daily balance by your daily periodic interest rate. Then multiply that number by the number of days in the billing cycle. This shows you how much interest you’ll pay in a month.
A quick example

If you have a credit card with a $1,000 balance and 20% APR, your daily interest rate would be 0.0548%. Assuming you don’t add to the debt, you’ll be charged around $0.55 in interest every day. If there are 30 days in the billing cycle, you’ll pay $16.50 in interest for the month.

How to avoid paying credit card interest

When you get a credit card statement each month, you’ll see a minimum payment amount listed. This is often a flat rate or a small percentage of your balance (usually 3%), whichever is higher.

While it’s tempting to just pay the minimum payment your credit card issuer asks for, doing so guarantees you’ll be charged interest because you’ll be carrying a balance into the following month.

Instead, make a point of paying off your balance in full every month. Not only will you avoid paying credit card interest, but your card issuer will report these payments to the credit monitoring bureaus, which can boost your credit score. Plus, the cash back or rewards you earn with the card won’t be offset by the interest you’re charged, so you truly get more out of using your card.

How to reduce credit card debt

If you already have a credit card balance, don’t despair. There are strategic things you can do to get out from under credit card debt.

1. Negotiate with your credit card provider

As a first step, call your bank or credit card provider to request a lower interest rate. Your card issuer may be willing to work with you, so don’t hesitate to ask. They might agree to lower your rate, offer to switch you to a lower-interest card, or create a repayment plan that works for your situation—but you’ll never know if you don’t ask.

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2. Make a budget and pay with cash or debit

It’s important to honestly track your income and expenses so you can trim unnecessary costs. Stop charging purchases to your credit cards and switch to cash or debit, instead.

While it might seem difficult, try to contribute to an emergency savings fund. If an unexpected expense comes up (like an appliance repair or vet bill), you can pull from your fund rather than charge it to your credit card.

3. Open a balance transfer credit card

If you have significant debt, find a balance transfer credit card with a great promotional rate. Then, move your existing balance to the card. You can quickly pay down the balance while you’re not being charged interest. The golden rule of balance transfer cards: never charge new purchases to the card.

Canada’s best credit cards for balance transfers

4. Try the avalanche or snowball repayment strategy

There are two main approaches to paying off debt:
- Avalanche method: Focus on paying off the debt with the highest interest rate first, while making only the minimum payments on your other accounts. Once the highest-interest debt is paid off, move on to the next-highest-interest debt.
- Snowball method: Start by paying off the debt with the smallest balance first, while continuing to make minimum payments on your other debts. After clearing one debt, move to the next-smallest balance. This method may cost more in interest over time, but it can provide strong motivation and momentum to stay on track with debt repayment.
5. Work with a credit counselling agency.

It’s completely understandable to feel overwhelmed by your credit card debt, which is why a credit counsellor can be so helpful. Speak to representatives from your financial institution, a credit counselling agency, or a debt consolidation program to discuss your options. They can help you create a tailored plan to resolve the situation.

5. Consider debt consolidation.

If you’re juggling multiple loans and credit card balances and having trouble paying them off, it may make sense to consolidate your debt. This means combining two or more debts into one, with just one payment to make each month.

Another option is a debt consolidation loan from a bank or other financial institution. Or you could work with a credit counselling agency to negotiate a debt consolidation program (DCP) or consumer proposal (repaying only part of your debt) with your lenders.

Learn more about each of these options by reading “How to consolidate debt in Canada” and “Who should Canadians consult for debt advice?”
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Jessica Gibson

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December 9, 2025
What’s open on Thanksgiving? Here’s what to know about store hours on Thursday and Black Friday.
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As Americans prepare their Thanksgiving feasts, they may find themselves in need of a last-minute ingredient. But depending on their local grocery store’s holiday schedule, they might be out of luck for scoring that extra bag of cranberries or box of stuffing.

It’s best to plan ahead, given that some retail and grocery chains will be shuttered on Nov. 27, while others will have limited hours for the Thanksgiving holiday.

Stores will reopen on Black Friday, the day after Thanksgiving, which is the official kickoff for the holiday shopping season. Several retailers are planning to open early on Nov. 28, giving customers a chance to get a head start on their gift lists.

Here’s what’s open and closed on Thanksgiving.

Is Target open on Thanksgiving?

Target locations will be closed for the Thanksgiving holiday, according to a fact sheet published on Target’s website.

Is Costco open on Thanksgiving?

Costco will be closed on Thursday, as noted on its holiday calendar.

Which grocery stores are open on Thanksgiving?

Below is a list of grocery chains that will be open with limited hours on Thursday.
- Food Lion: All stores will close at 3 p.m., except its Virginia locations in Roanoke, Lynchburg, Blacksburg, and Charlottesville, which will close at 4 p.m., a spokeswoman told CBS News. All pharmacies will be shut for the holiday.
- H-E-B: Open 6 a.m. to noon on Thanksgiving.
- Kroger: Its locations will close at 12 p.m. on the holiday.
- Stop and Shop: Stores in Connecticut, New York and New Jersey are open until 3 p.m. on Thanksgiving. However, locations in Massachusetts and Rhode Island will be closed, as well as pharmacies across all locations.
- Wegmans: Most stores will close at 4 pm on Thanksgiving and reopen at 6 am on Friday, Nov. 28, a spokesperson told CBS News.
- Whole Foods: The majority of stores will be open from 7 a.m. to 1 p.m., although locations in Massachusetts, Maine and Rhode Island will be closed.
Which grocery chains are closed on Thanksgiving?

The following chains will be closed all day on Thursday:

Are other retailers open on Thanksgiving?

Some other chains, from pharmacies to home improvement centers, will be closed for the Thanksgiving holiday.

For those that will remain open, it’s best to check schedules and hours ahead of time, as they can vary depending on location.
- CVS Pharmacy: CVS locations will be open on Thanksgiving, although some stores and pharmacies may have reduced hours, a spokesperson told CBS News.
- Dollar General: Stores in most states will be open during regular business hours on Thanksgiving.
- Home Depot: Closed on Thanksgiving.
- IKEA: Closed on Thanksgiving.
- Michaels: Closed on Thanksgiving.
- Petco: Closed on Thanksgiving.
- TJ Maxx, Marshalls, HomeGoods, Sierra and Homesense: All closed on Thanksgiving.
- Walgreens: Most stores will be closed, although 24-hour locations will remain open for essential pharmacy services.
Which fast-food and restaurant chains can I eat at on Thanksgiving?

As with other retailers, customers should check local hours as they may vary.
- Burger King: Open on Thanksgiving.
- Chick-fil-A: Closed on Thanksgiving.
- Dunkin’: Many stores will operate during regular hours on Thanksgiving. Customers can check local store listings or the Dunkin’ app for more info.
- KFC: Hours across the U.S. will vary based on location, a spokesperson said.
- Starbucks: Some stores may adjust their hours. Use the company’s store locator or app to determine if a shop near you is open.
- Subway: Most Subway restaurants are closed on Thanksgiving Day, although some locations may operate with reduced hours, a spokesperson told CBS News.
Is the stock market open on Thanksgiving?

The stock market will be closed on Thanksgiving. It will also close early, at 1 p.m. EDT, on Friday, Nov. 28, according to the Nasdaq website.

Are USPS, UPS and FedEx open on Thanksgiving?

Post office locations will be closed on Thursday to observe Thanksgiving, and only Priority Mail Express will be delivered that day. Regular mail delivery and retail services will resume on Friday, Nov. 28.

UPS will be closed on the Thanksgiving holiday, with pickup and delivery services resuming on Friday.

All FedEx services will be closed except for FedEx Custom Critical, an expedited service for specialized, valuable and hazardous shipments, according to FedEx’s website.

Do stores have special Black Friday hours?

Some stores are opening their doors early on Friday to accommodate the rush of shoppers looking for discounts. See below for a sampling of retailers’ Black Friday hours.
- Best Buy: Opens at 6 a.m. local time.
- JC Penney: Opens at 5 a.m. local time.
- Kohl’s: Opens at 5 a.m. local time.
- Nordstrom: Opens at 7 a.m. local time.
- Macy’s: Opens at 6 a.m. local time.
- Michaels: Open 7 a.m. to 10 p.m.
- Target: Opens at 6 a.m. local time. Stores will close at their regular time. From Nov. 29 through Dec. 23, Target stores will be open from 7 a.m. until midnight local time.
- TJ Maxx, Marshalls, HomeGoods, Sierra, and Homesense: All will open at 7 a.m. and close at 10 p.m.
- Walmart: Opens at 6 a.m. local time.
Edited by

Aimee Picchi

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November 27, 2025
Credit card tier discrimination may be coming: New Visa-Mastercard swipe settlement could reshape rewards—and surcharges | Fortune

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Premium credit card users and small merchants could soon feel the effect of a decades-long battle over swipe fees.

A newly proposed settlement between Visa and Mastercard could reshape how much merchants—and ultimately, consumers—pay to use their payment networks, while giving stores more flexibility to treat high-end and mid-tier cards differently.

If approved by the court, the payment giants would reduce interchange fees by 0.1% over the next five years and cap standard consumer credit rates at 1.25% for eight years. It would also scrap a rule requiring merchants to accept all cards from a given network. That change could open the door for stores to reject credit card tiers—such as higher-fee, high-reward cards like the Chase Sapphire Reserve or Capital One Venture X—or further pass fees directly to consumers.

The current system has long frustrated merchants, especially small businesses, who must decide whether to absorb rising swipe fees or pass costs to customers. Visa and Mastercard collected $111.2 billion in credit card swipe fees in 2024—up 10% from the year prior and quadruple the level from 2009, according to the National Retail Federation.

With the new move, merchants could more easily add surcharges selectively who are less price-sensitive, John Cabell, managing director of payments intelligence at J.D. Power, told Fortune. Premium cardholders, with annual fees above $500, spend an average of $2,736 a month, nearly three times as much as those with cheaper cards. Only 22% of those cardholders report they select alternate payment methods when faced with a surcharge, according to J.D. Power data. That’s compared to 33% of holders of no-fee cards.

But while some merchants might be tempted to trim costs by limiting which cards they accept, doing so could alienate big spenders and disrupt the lucrative rewards ecosystem that fuels consumer spending.

“Over time, if premium cards become even more expensive to use at the point of sale, this type of change might reign in the upward spiral of rewards and benefits that consumers have grown to appreciate,” Cabell added. “Even relatively modest cards might see a reduction in offerings as well if surcharges become generally more prevalent with mid-tier and premium card groupings.”

But others argue merchants will think twice before turning away big spenders. Brian Kelly, founder of The Points Guy, told Fortune he didn’t expect the deal’s potential results to be dramatic because if businesses refuse top-tier rewards cards, they’d likely lose more revenue than they save on interchange fees.

“If this settlement proceeds, merchants may continue adding small fees for credit card transactions, which they’re already allowed to do today,” Kelly added.

In a statement, Mastercard said they believe the settlement is the best solution for all parties.

“Smaller merchants will gain in this settlement – more acceptance choices, reduced costs and simplified rules,” the company said in a statement. Even more, it allows us to focus our energies on continuing to give consumers, small businesses and larger merchants what they expect from Mastercard – a better payments experience, strong value and peace of mind.”

Visa told Fortune the deal would “provide meaningful relief, more flexibility and options to control how they accept payments from their customers.”

Trade group argue the deal fails to protect merchants

Many trade groups criticized the settlement, arguing it doesn’t go far enough to protect merchants.

“Once again, this proposal is all window dressing and no substance,” National Retail Federation Chief Administrative Officer and General Counsel Stephanie Martz said in a statement. “The reduction in swipe fees doesn’t begin to go far enough, and the change in the honor-all-cards rule would accomplish nothing. If the courts can’t fix this, it’s time for Congress to take action.”

The National Grocers Association added that the proposed settlement does not address the “anticompetitive price-setting in the credit card industry.”

“Independent grocers, operating on net margins of less than 2%, have been hit hardest by rising swipe fees, which grow faster than inflation and cost consumers and businesses over $100 billion annually,” wrote Chris Jones, NGA chief government relations officer and counsel.

A previous Visa-Mastercard agreement was denied earlier this year, so it remains to be seen if this new proposal will ultimately be approved.

Lawmakers have also floated reform through the bipartisan Credit Card Competition Act, which would reduce swipe fees and target the “Visa-Mastercard duopoly” by requiring secondary networks on credit cards. The measure, which was first introduced in 2023 and backed by then-U.S. Senator J.D. Vance, could put additional pressure on payment giants if the settlement doesn’t satisfy regulators—or merchants.

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November 13, 2025
Maximize your Thanksgiving grocery savings with these credit cards
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How does turkey with a side of rewards sound? With the best grocery credit cards, you can buy your Thanksgiving essentials and earn valuable cash back, points, or miles at the same time, bringing you extra savings to pair with your holiday cheer.
Annual fee

$0 intro annual fee for the first year, then $95.

Welcome offer

Earn a $250 statement credit after spending $3,000 in eligible purchases in the first 6 months

Card type(s)

Cash-back, Rewards

Introductory Purchases APR

0% on purchases for 12 months

Ongoing Purchases APR

19.74%-28.74% Variable

Introductory Balance Transfer APR

0% on balance transfers for 12 months

Ongoing Balance Transfer APR

19.74%-28.74% Variable

Recommended credit score

Excellent,Good

Rewards rate

6% cash back at U.S. supermarkets (on up to $6,000 in eligible purchases annually, then earn 1%)

6% cash back on select U.S. streaming subscriptions

3% cash back on at eligible U.S. gas stations and on transit, including taxis/rideshare, parking, tolls, trains, buses, and more

1% cash back on all other purchases

*Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout

Benefits

Generous intro APR on purchases and balance transfers

Get up to a $10 monthly statement credit after using your enrolled Blue Cash Preferred® Card for a subscription purchase, including a bundle subscription purchase, at disneyplus.com, hulu.com, or plus.espn.com U.S. websites (subject to auto-renewal)

Split purchases of $100 or more into equal monthly installments with a fixed fee — select the purchase in your online account or the American Express® App to see your plan options
Why we like it: At 6% cash back, the Blue Cash Preferred is the ultimate rewards card for U.S. supermarket shoppers. There is a $6,000 annual cap (after which you’ll earn 1% cash back in the category), which averages out to around $500 in grocery purchases per month. If you have a large family and eat mostly at home, you may exceed that annual limit — but it is still within Americans’ average spending of just over $5,700. If you are able to meet the 6% spending limit, you’ll get up to $360 in cash back, far exceeding the card’s ongoing $95 annual fee.

Read our full review of the Amex Blue Cash Preferred Card
Annual fee

$0

Welcome offer

Limited-time offer: Earn $300 in welcome bonuses. Enjoy a $100 credit to use towards flights, stays and rental cars booked through Capital One Travel during your first cardholder year, plus, earn a $200 cash bonus once you spend $500 on purchases within the first 3 months

Card type(s)

Cash-back, Rewards

Purchase APR

19.24% – 29.24% variable

Introductory APR

0% intro APR on purchases and balance transfers for 12 months, then variable 19.24% – 29.24% APR

Recommended credit score

Good, Excellent

Rewards rate

8% cash back on Capital One Entertainment purchases

5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel

3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)

1% cash back on all other purchases

Benefits

Generous intro APR on purchases and balance transfers for the first 12 months

No foreign transaction fees
Why we like it: The Capital One Savor has a lot of potential value for shoppers who spend a lot on groceries. Unlike other cards on our list, there’s no cap to the amount of grocery purchases you can earn 3% cash back on each year. If you spend around the national average of $5,703, you can earn a total of $171.09 annually, even before accounting for your savings across other categories.

Read our full review of the Capital One Savor Cash Rewards Credit Card
Annual fee

$0

Welcome offer

Earn a $200 statement credit after spending $2,000 within the first 6 months

Card type(s)

Cash-back

Ongoing Balance Transfer APR

19.74%-28.74% Variable

Introductory Purchases APR

0% on purchases for 15 months

Introductory Balance Transfer APR

0% on balance transfers for 15 months

Ongoing Purchases APR

19.74%-28.74% Variable

Recommended credit score

Excellent, Good

Rewards rate

3% cash back at U.S. supermarkets (on up to $6,000 per year in eligible purchases, then 1%)

3% cash back on U.S. online retail purchases (on up to $6,000 per year in eligible purchases, then 1%)

3% cash back at U.S. gas stations (on up to $6,000 per year in eligible purchases, then 1%)

1% cash back on all other purchases

Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout

Benefits

Generous intro APR on purchases and balance transfers

Get up to a $7 monthly statement credit after using your enrolled Blue Cash Everyday® Card for a subscription purchase, including a bundle subscription purchase, at disneyplus.com, hulu.com, or plus.espn.com U.S. websites (subject to auto-renewal)

Split purchases of $100 or more into equal monthly installments with a fixed fee — select the purchase in your online account or the American Express® App to see your plan options
Why we like it: For no annual fee (see rates and fees), the Amex Blue Cash Everyday’s 3% cash back at U.S. supermarkets can translate to a big rewards return each year. There is a $6,000 annual cap (after which you’ll earn 1%) — but if you spend around the average $5,703 on groceries each year you’ll be able to maximize the category and get around $171.09 back.

Read our full review of the Blue Cash Everyday card
Annual fee

$325

Welcome offer

You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 on eligible purchases in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply to know if you’re approved and find out your exact welcome offer with no credit score impact; if approved and you accept the card, your score may be impacted)

Card type(s)

Travel, Rewards

Ongoing Purchases APR

See Pay Over Time APR

Recommended credit score

Excellent/Good

Rewards rate

4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)

4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)

3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com

2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com

1x Membership Rewards points on all other eligible purchases

Benefits

Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)

Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com

Up to $84 per year ($7/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin’® locations (enrollment is required to receive this benefit)
Why we like it: With 4x Membership Rewards points at U.S. supermarkets, the American Express Gold Card is one of the best options for turning your grocery purchases into travel rewards. It’s unlikely that most shoppers will reach the $25,000 annual spending cap — which averages out to a monthly supermarket bill over $2,000. But if you do, you could earn a whopping 100,000 Membership Rewards points from this bonus category. If your supermarket purchases are closer to the average $5,703 annually, you can still rack up 22,812 points each year.

Check out all the new Amex Gold card features and benefits
Rewards rate

10% or more on a rotating selection of items and categories on Amazon.com (with an eligible Prime membership)

5% at Amazon.com, Amazon Fresh, Whole Foods Market, and on Chase Travel purchases

2% at gas stations, restaurants, and on local transit and commuting (including rideshare)

1% on all other purchases (unlimited)

Benefits

Redeem daily rewards at Amazon.com or Chase.com as soon as the next day

No annual fee
The Prime Visa card may not be top of mind when you think of grocery credit cards, but for some shoppers, it can be a great way to maximize food spending. The card’s top 5% cash back rate doesn’t only apply to Amazon.com purchases — you can earn the same amount at Whole Foods Market and Amazon Fresh. So if Whole Foods is your supermarket of choice or Amazon Fresh is the grocery delivery service you use most often, you could get an unlimited 5% back on groceries (rather than work around the spending caps set by many grocery rewards cards).

Read our full review of the Prime Visa credit card
Annual fee

$0

Welcome offer

Earn a $200 bonus after you spend $500 on purchases in the first 3 months

Card type(s)

Rewards, Cash-back

Purchase APR

18.74% – 28.24% variable

Introductory APR

0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74% – 28.24%

Rewards rate

5% cash back on up to $1,500 on combined purchases in bonus categories each quarter you activate

5% cash back on travel purchased through Chase Travel℠

3% on dining, including takeout, and drug stores

1% on all other purchases

Benefits

Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more

Enjoy perks like extended warranty protection, trip cancellation insurance, cell phone protection, and auto rental collision damage waiver

Redeem your cash back rewards as a statement credit, direct deposit, gift card, on Amazon purchases, or to book travel through Chase

Use the introductory 0% APR on purchases and balance transfers for the first 15 months, after which the standard APR will apply
Why we like it: The biggest bonus rewards category from Chase Freedom Flex offers 5% cash back in rotating quarterly categories, up to $1,500 in combined purchases each quarter. As a result, you may only earn 5% grocery rewards during one quarter each year — over the past few years, grocery stores have consistently shown up as a quarterly bonus category.

Read more: Current Chase Freedom bonus categories
Annual fee

$0 for the first year, then $95

Welcome offer

Earn a $250 bonus after spending $2,000 within the first 120 days

Card type(s)

Cash-back, Rewards

Purchase APR

18.74% – 28.74% variable

Recommended credit score

Good, excellent

Rewards rate

6% cash back on the first $1,500 in combined purchases each quarter with two retailers of your choice

5.5% cash back on hotel and car reservations booked directly in the Rewards Travel Center

3% cash back on the first $1,500 in purchases each quarter on one everyday category of your choice (like wholesale clubs, gas and EV charging stations, bills and utilities)

1.5% cash back on all other purchases

Benefits

Retailers eligible for 6% cash back include Target, Walmart, and Amazon.com

Categories eligible for 3% cash back include bills and utilities, gas and EV charging stations, and wholesale clubs

Access to ExtendPay® Plans, which allow you to pay off balances in fixed monthly payments over time and avoid paying interest charges on eligible purchases
Why we like it: This card takes some strategy to maximize, but the potential value of the U.S. Bank Shopper Cash Rewards may be worth it. To start, you’ll earn 6% cash back on up to $1,500 in combined spending across two retailers you choose each quarter. Superstores like Target and Walmart are included among these choice retailers (unlike most grocery rewards cards), and this is a great option if you prefer to go grocery shopping there.
Annual fee

$0

Welcome offer

Earn $200 in cash back after spending $1,500 on purchases in the first 6 months (bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back)

Card type(s)

Cash-back

Purchase APR

18.24% – 28.24% variable

Introductory APR

0% intro APR on purchases and balance transfers for the first 15 months

Recommended credit score

Good to Excellent

Rewards rate

5% cash back on purchases in your top eligible spend category each billing cycle (up to the first $500 spent, 1% cash back after that)

4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ through 6/30/2026

1% unlimited cash back on all other purchases

Benefits

No annual fee

As your spending changes, your earn adjusts automatically when you spend in any of the eligible categories each billing cycle
Why we like it: This card is our choice for regular monthly grocery spending because it can be ideal for grocery shoppers who have a set amount of money to put toward groceries each month. There is a $500 monthly spending cap, but it’s hard to beat the 5% you can earn up to that limit with the Citi Custom Cash. Over a year of maxing out the 5% with grocery stores as your category, you can earn up to $300 cash back. With the average $5,703 spread over a year, you could potentially earn $285.15. Just be aware of your spending and spread your grocery purchases out to not meet the monthly caps.

Read our full review of the Citi Custom Cash Card

A co-branded grocery credit card may offer even more savings if you tend to shop at the same store each week. That’s especially true if you do most of your grocery shopping at superstores or wholesale clubs — which are often excluded from earning bonus rewards with regular grocery credit cards.

Here are a few store credit cards for groceries to consider:

For no annual fee beyond your Costco membership price, you can use the Costco Anywhere Visa to earn 4% cash back on eligible gas station and EV charging station purchases (up to $7,000 per year, then 1%), 3% cash back at restaurants, 3% cash back on eligible travel spending, and 2% cash back on purchases at Costco and Costco.com. Everything else earns 1% cash back. If you already have a Costco membership and do much of your monthly shopping there, this card can help you maximize that grocery spending as well as other regular expenses.

Related: How to save on travel with your Costco credit card

Target recently revamped its Target Circle rewards program — and part of the relaunch included the Target Circle Card, which offers a lot of potential savings for frequent shoppers. You’ll earn 5% cash back at Target stores and on Target.com with the no annual fee card and, if you’re approved for the Target Mastercard version, also earn 2% cash back on dining, 2% at gas stations, and 1% cash back on all other non-Target purchases.

Read more: Target Circle 360 vs. Walmart+ and Amazon Prime

There are two primary ways that grocery credit cards can help you save money during the holidays and beyond:
1. Welcome bonuses: New cardholders are typically eligible to earn a sign-up bonus on a rewards credit card. If you’re able to meet the spending requirement, you can significantly pad your rewards balance by making purchases you were already planning, including buying groceries.
2. Everyday rewards: Apart from the welcome bonus, you can continue earning rewards on your everyday spending, including trips to the grocery store. These rewards won’t initially be as much as earning the sign-up bonus, but they’ll add up over time.
The value you get from your rewards depends on how you use them. For cash-back credit cards, you typically get a statement credit or a deposit into your bank account. You can use either redemption option to easily offset expenses during the holiday season.

For travel credit cards, you can often redeem rewards toward flights, hotel stays, or rental cars. This can take a lot of the upfront cost out of a holiday trip or a future vacation.

Between weekly hauls, restocks, and the occasional pitstop on the way home from work, grocery shopping is likely one of your biggest monthly expenses. In fact, the average cost Americans incur for food at home is $5,703 each year — nearly $500 monthly. With regular grocery bills that high, it pays — a lot — to have a grocery rewards credit card in your wallet.

Keeping multiple credit cards in your wallet can be useful for earning the best rewards and taking advantage of the best benefits on nearly every purchase you make. So if, like many Americans, supermarket spending is among your most common monthly expenses — a credit card for groceries can make a lot of sense.

There are a few reasons you may want to hold off, though. For one, if opening a new credit card encourages you to spend more than you can afford just to earn rewards, it might be more costly than budget-friendly. Many of the best grocery credit cards also require a great credit score — so if you’re still building a solid credit history, you may want to wait to apply.

Overall, comparing the potential value to your own spending at the grocery store is the best way to decide. Here are a few more factors to consider:
- Where you shop most often: If you always do your grocery shopping at the same chain, or a rotation of a few different supermarkets, make sure you can earn rewards there with your grocery credit card. Read the card’s terms before you apply to see whether any exclusions apply that may keep you from maximizing your spending.
- What type of rewards you want to earn: You can find grocery bonus categories among both cash-back credit cards and rewards credit cards that earn points and miles. Narrow down your options by deciding whether you prefer the simplicity of cash back or want to earn points that you can put toward a future travel purchase.
- How much you spend on groceries: Several of the best credit cards for groceries cap the amount you can spend before maxing out top rewards for the month, quarter, or year. Look back at your total supermarket spending over the past year to compare your totals with each card’s spending cap to secure the most value for you over the long term.
Like any credit card bonus category, the details of your grocery rewards can differ between cards and card issuers.

The language used by the issuer to refer to a card’s grocery rewards can make a big difference in your potential earnings.

For example, many grocery credit cards earn rewards solely at “grocery stores” or “supermarkets” and specify that the same bonus rewards rate does not apply to large superstores like Walmart and Target or warehouse clubs like Costco and Sam’s Club. If you prefer to complete all your shopping at your local Super Target or you’re a loyal Costco member, you’ll probably be better off with a card that earns rewards at those stores specifically.

This is also important if you use online grocery delivery. Whether you prefer Instacart, Amazon Fresh, or another grocery delivery service, you’ll want to make sure you can earn your grocery rewards while using it.

Finally, look for any restrictions on where you spend. Some grocery credit cards only earn rewards at stores within the United States. If you plan to use the card to buy food on trips abroad, you might forfeit some rewards earnings.

Read more

Spending limits are likely one of the first things that stand out when you begin comparing credit cards for groceries. You’ll often see a card offer something like 5% cash back on grocery store purchases up to the first $500 per month or 6% back on grocery store spending up to the first $1,500 per quarter.

While a spending cap can hurt your potential earnings, it’s not a reason to rule out a card altogether. In fact, the cards we compared generally have spending limits well within the amount average Americans spend on food at home each year.

What’s more important is how each card’s restrictions fit your specific grocery spending.

If you have a large family, for example, and spend well beyond the limits each year, you might want to look for a card that doesn’t have any annual limit on what you can earn — even if it does have a lower reward or cash-back rate. Or maybe your grocery spending tends to be much higher at certain times throughout the year when you eat at home more. Then, you might prioritize a card with a more flexible annual limit rather than specific monthly or quarterly limits.

Before you decide on the best credit card for the grocery stores and supermarkets where you shop most, find out more with these frequently asked questions:

Right now, two credit cards on our list offer 6% cash back on your grocery purchases. Though their reward structures are very different, both of these cards cap the total 6% rewards you can earn.

The Blue Cash Preferred Card from American Express offers 6% cash back on the first $6,000 you spend at U.S. supermarkets each year (then 1%), along with other rewards categories. The U.S. Bank Shopper Cash Rewards Visa Signature Card earns 6% cash back on the first $1,500 you spend in combined purchases each quarter with two choice retailers. While this card doesn’t explicitly have a grocery category, eligible 6% retailers do include Target and Walmart — so if you often buy groceries at those superstores, you could earn 6% on eligible spending.

When you’re looking for a new rewards credit card, it’s smart to start with your budget. Look back on past expenses over the past several months — if grocery stores and supermarkets make up a significant portion of your spending, a credit card for groceries can be a great way to save.

Many of the best credit cards with grocery rewards don’t only earn rewards on groceries, though. Take time to evaluate the other rewards categories (along with the annual fee, welcome bonus, and other details) to make sure you choose the right one for your overall budget and everyday spending.

Learn more: Which credit card is best for me? A guide to help you choose

There are several options for grocery rewards credit cards with no annual fee, especially if you’re looking for cash-back rewards. You can find more information about each one via our full list of best grocery credit cards above:

Credit card issuers often have different parameters for “grocery stores” or “supermarkets,” so it’s always a good idea to read your card’s rewards agreement to ensure you can maximize rewards where you shop most. Rewards categories also often rely on merchant category codes, which can vary by retailer.

An eligible U.S. supermarket as defined by American Express, for example, “offers a wide variety of food and household products such as meat, fresh produce, dairy, canned and packaged goods, household cleaners, pharmacy products and pet supplies.” But it does not include superstores, convenience stores, warehouse clubs, or meal kit delivery services.

Capital One, on the other hand, specifies that purchases at a supermarket, meat locker, freezer, dairy product store, or specialty market can all earn grocery rewards, but explicitly states that superstores like Target and Walmart do not count toward the category bonus. It also clarifies that grocery purchases “made at gas stations, convenience stores, warehouse clubs, discount stores, and superstores (or at grocery stores associated with discount stores or superstores,” will not earn bonus rewards for the grocery category.

While qualifying stores will often overlap, knowing exactly what counts for your specific card (and exclusions that may apply) can help you maximize your card’s rewards.

Our list of the best credit cards for groceries started by compiling all of the credit cards available from major issuers — from cash-back cards to rewards and travel credit cards — that earn grocery rewards. In total, we evaluated nearly three dozen cards for this list.

From there, we determined each credit card’s annual grocery rewards potential based on the average amount that Americans spend on food at home according to the Consumer Expenditures survey from the Bureau of Labor Statistics. As of 2022 — the most recent available data — that amount is $5,703.

We then assigned each of the potential cards a rating. The data points used for this include standard details like APR, annual fee, welcome bonus, security protections, and more. But we also included some features specific to grocery rewards, including the potential cash back earned using the BLS data and actual rewards rate.

The cards that make up our list include both the top-scoring cards overall and the cards with the top potential annual earnings. While we wanted to guarantee each of our options could help maximize grocery spending, we also included a range of annual fees, rewards types, and spending limits so that you can use your individual spending habits and goals to find the best fit for your grocery budget.

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
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November 12, 2025
Top travel credit cards for 2025
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Planning a trip this holiday season? Take the sting out of expensive flights and hotel stays by using rewards from the best travel credit cards to book your upcoming holiday vacation. With some of your largest trip expenses covered with points or miles, you can put your money toward fun experiences and outings.
Annual fee

$95

Welcome offer

Earn 75,000 miles after spending $4,000 on purchases in the first 3 months – that’s equal to $750 in travel

Rewards rate

5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel

2x miles on all other purchases

Benefits

Receive up to a $120 statement credit for Global Entry or TSA Precheck application fees

Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels

Access Hertz’s Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more
Why we like it: The Capital One Venture card is a winning travel card for earning and redeeming miles, no matter how you like to travel. The simple 2x miles on every purchase can help you earn toward future trips with everything you buy. And redemptions are just as far-reaching: You can use miles to book future trips through Capital One Travel, reimburse yourself for travel purchases you make with your card, or transfer miles to Capital One’s 15+ travel partners.

Read our full review of the Capital One Venture Rewards Credit Card
Rewards rate

5x points on travel purchased through Chase Travel℠

3x points on dining, select streaming services, and online groceries

2x points on all other travel purchases

1x points on all other purchases

$50 Annual Chase Travel Hotel Credit

Benefits

Complimentary DashPass with $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27, plus a $10 promo each month on non-restaurant orders

Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel

On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year
Why we like it: The Chase Sapphire Preferred Card has a solid welcome offer and rewards on a mix of travel and everyday categories, so you can rack up points no matter how often you vacation. On top of that, you’ll get an anniversary points bonus worth 10% of your overall spending from the past year. But you’ll get the most value from this card when it’s time to redeem. Points redeemed for travel through Chase Travel℠ get a 25% boost — so 10,000 points would be worth $125, for example.

Read our full Chase Sapphire Preferred Card review and learn more about pairing today’s top Chase credit cards
Rewards rate

10x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel

5x miles on flights and vacation rentals booked through Capital One Travel

2x miles on all other purchases

Benefits

$300 annual credit for travel bookings through Capital One Travel

10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)

Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks after enrollment
Why we like it: We like the Capital One Venture X Rewards Credit Card because it has no shortage of great perks and rewards, but offers a relatively lower annual fee. You’ll get a $300 annual travel credit for bookings with Capital One Travel; 10,000 bonus miles each year after your first anniversary; a credit for TSA PreCheck or Global Entry fees; access to Capital One Lounges and partner lounge networks; a $100 experience credit when you book stays with the Premier Collection; Hertz President’s Circle status; and more. Combined, these perks more than outpace the card’s annual fee — but consider your travel plans to ensure you’ll be able to take full advantage and get the maximum possible value from your Venture X card.

Read our full Capital One Venture X Rewards Credit Card review
Welcome offer

You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 on eligible purchases in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply to know if you’re approved and find out your exact welcome offer with no credit score impact; if approved and you accept the card, your score may be impacted)

Rewards rate

4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)

4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)

3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com

2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com

1x Membership Rewards points on all other eligible purchases

Benefits

Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)

Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com

Up to $84 per year ($7/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin’® locations (enrollment is required to receive this benefit)
Why we like it: You might not expect a travel credit card to offer some of the best rewards on your most frequent budget items, but the American Express Gold Card does just that. With 4x points at restaurants worldwide (up to $50,000 in purchases annually) and 4x points at U.S. supermarkets (up to $25,000 in purchases annually), it’s easy to earn rewards on your year-round food spending to put toward an upcoming trip — in addition to travel rewards categories. Combined with travel savings, travel rewards, and flexible redemption options (including transferring to Amex’s partner travel programs), Amex Gold offers great value even if you travel only a few times per year.

Read our full American Express Gold Card review
Rewards rate

5x points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center

4x points on travel
4x points at gas stations/EV charging stations (on your first $1,000 each quarter)

2x points on dining, streaming services, and at grocery stores

1x points on all other eligible purchases

Benefits

No foreign transaction fees

Up to $100 in statement credits toward your TSA PreCheck or Global Entry application fee once every four years

Complimentary Priority Pass™ Select Membership for 4 free visits to over 1,600 airport lounges and experiences
Why we like it: The U.S. Bank Altitude Connect may be a no annual fee card, but the rewards and perks it offers can bring just as much value as more costly options. Like the other cards on our list, you can earn rewards across a range of travel and everyday categories: 5x points on prepaid hotels and rental cars booked through U.S. Bank’s Altitude Rewards Center; 4x points on other travel and at gas stations or EV charging stations (up to $1,000 spent per quarter); 2x on dining purchases, streaming services, and grocery stores; and 1x on everything else. Redemption options may be slightly more limited than other cards on our list, but you can redeem rewards for a deposit to your U.S. Bank account, travel, gift cards, and more.
Annual fee

$95

Welcome offer

Earn 75,000 bonus points after spending $4,000 in the first 3 months (redeemable for $750 in gift cards or travel rewards on thankyou.com)

Rewards rate

10x points on hotels, car rentals, and attractions (booked through CitiTravel.com)

3x points on air travel and other hotel purchases, restaurants, supermarkets, gas stations, and EV charging stations

1x points on all other purchases

Benefits

Enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com (once per calendar year; benefit applied instantly at the time of booking)

No foreign transaction fees

Transfer ThankYou® Points to participating airline loyalty programs — including TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer — with no fees (minimum transfer of 1,000 points)
Why we like it: The Citi Strata Premier card is another travel card with a straightforward rewards structure but plenty of potential value. Earning rewards is simple — get 10x points when you book hotels, rental cars, and attractions through CitiTravel.com and 3x points across other hotel purchases, air travel, restaurants, supermarkets, gas stations, and EV charging stations (everything else earns 1x points). In addition to redemptions through CitiTravel.com and for gift cards, you can transfer points to Citi’s partner airline programs.
Rewards rate

2x points on travel and dining purchases

1.5x points on all other purchases

Benefits

Up to $100 in annual statement credits for incidental airline fees such as seat upgrades or baggage fees, plus get a statement credit for TSA PreCheck® or Global Entry application fees every four years

Bank of America Preferred Rewards® members can earn up to 75% more points on every purchase

Use your card anywhere without incurring foreign transaction fees
Why we like it: The Bank of America Premium Rewards Credit Card works a bit like a flat rewards card — with a boost. You’ll earn 2x points on travel and dining with an unlimited 1.5x on everything else, which means you’re still getting the 1.5x multiplier no matter what you use your card to buy at home or away. Even better, you may be eligible to increase your rewards earnings even more. If you’re a Preferred Rewards member with Bank of America, you can earn 25% to 75% extra on every purchase, depending on your combined balances across eligible deposit and investment accounts. That could increase your travel and dining rewards to 2.5x to 3.5x and everything else to 1.87x to 2.62x per dollar.

General travel cards like the ones above can be great for scoring points and miles toward any type of travel. But if you always prefer flying with a certain airline or booking with a specific hotel chain, a co-branded travel card might be more rewarding.

We included hotel and airline cards in our overall travel card ratings, and the cards below are the top-scoring options.

Just remember: a co-branded travel card only makes sense if you fly often enough with that airline or stay frequently enough at the hotel to justify its value over a more general card. Make sure you look at your recent travel and any upcoming plans before deciding.
Annual fee

$95

Welcome offer

Earn 80,000 bonus points and a $99 Companion Fare after spending $4,000 or more within the first 120 days after account opening

Rewards rate

Unlimited 3x points for every $1 spent on eligible Alaska Airlines and Hawaiian Airlines purchases

Unlimited 2x points for every $1 spent on eligible gas, EV charging station, cable, streaming services and local transit (including ride share) purchases

Unlimited 1x point per $1 spent on all other purchases

Benefits

Free checked bag on Alaska and Hawaiian Airlines, plus priority boarding on Alaska Airlines, for you and up to 6 guests on the same reservation

Get a $99 Companion Fare (plus taxes and fees from $23) each account anniversary after spending $6,000 or more in the previous year

Earn a 10% rewards bonus on all miles earned from card purchases if you have an eligible Bank of America® account
The Atmos Rewards Ascent Visa Signature card has a solid welcome offer and rewards on a combination of everyday spending and Alaska Airline purchases — plus it offers an affordable way to score Alaska’s Companion Fare every year. You’ll earn a $99 Companion Fare (plus taxes and fees) each account anniversary when you spend at least $6,000 in the year prior, or about $500 per month. With 3x rewards on Alaska Airlines spending and 2x on gas, EV charging, cable, streaming services, and local transit (plus 1x on everything else), you can meet that threshold with a combination of travel and everyday purchases while boosting your rewards.

Read our full review of the Atmos Rewards Ascent Visa Signature
Rewards rate

3x miles on eligible Hawaiian Airlines purchases

2x miles on gas, dining, and eligible grocery store purchases

1x miles on all other purchases

Benefits

Get two free checked bags on eligible flights when you use your card to book on Hawaiian Airlines

Receive a one-time 50% off companion discount for roundtrip travel between Hawaii and North America

Get a $100 companion discount annually for roundtrip travel between Hawaii and North America after your account anniversary

Discounted award flights on Hawaiian Airlines
If you’re planning a trip to Hawaii, the Hawaiian Airlines World Elite Mastercard can offer amazing savings on your trip. In addition to the bonus miles you’ll get from the welcome offer, you’ll also get a one-time companion discount for 50% off a roundtrip coach ticket between Hawaii and North America. Even after the one-time discount, you’ll still save when you fly to Hawaii with a $100 companion discount every account anniversary which also applies to roundtrip travel between Hawaii and North America on Hawaiian Airlines.

Read our full Hawaiian Airlines World Elite Mastercard review
Annual fee

$350

Welcome offer

Earn 70,000 bonus miles and 1,000 Premier Qualifying Points (PQP) after you spend $4,000 on purchases in the first 3 months your account is open

Rewards rate

3x miles on United® purchases

2x miles on dining, select streaming services, and all other travel

1x miles on all other purchases

Benefits

Free first and second checked bags + priority boarding

Receive a $200 United® travel credit and 10,000-mile award flight discount on each account anniversary

Earn 2 global Economy Plus® seat upgrades after spending $40,000 in purchases each calendar year
United and Chase offer multiple co-branded card options for frequent United Airlines flyers, but we like the The New United Quest Card for a few reasons. The annual fee is higher than some other options, but you’ll get plenty of benefits that can help make up the cost if you fly United at least a few times per year. In addition, get a solid welcome bonus and a wide range of ongoing rewards, from 3x miles on United purchases, 2x miles on other travel, dining, and select streaming services, and 1x on everything else.
Rewards rate

Up to 26x points at IHG hotels and resorts

5x points on travel, dining, and at gas stations

3x points on all other purchases

Benefits

Earn a free night on each account anniversary, plus get a fourth night free when you redeem your points for a consecutive four-night stay at IHG properties

Receive Global Entry, TSA PreCheck®, or NEXUS statement credit of up to $120 every 4 years as reimbursement for the application fee charged to your card

Access perks including free upgrades, welcome amenities, and guaranteed room availability when you book at least 72 hours in advance
For travelers who prefer to stay in IHG Hotels (which includes brands like InterContinental, Kimpton, Crowne Plaza, Holiday Inn, and more), the IHG One Rewards Premier Credit Card offers a solid balance of rewards potential and annual benefits. Annual perks include automatic Platinum Elite status (qualify for Diamond when you spend at least $40,000 in a calendar year); an anniversary free night worth up to 40,000 points; a $100 statement credit and 10,000 points when you spend $20,000 in a calendar year; your fourth night free on eligible reward stays; and up to $50 United TravelBank Cash each calendar year when you connect your card to your United MileagePlus account.
Annual fee

$95

Welcome offer

Earn 3 Free Night Awards — each night valued up to 50,000 points — after spending $3,000 in the first 3 months (certain hotels have resort fees)

Rewards rate

Up to 17x points at Marriott: 6x points at participating Marriott Bonvoy® properties, 10x points for being a Marriott Bonvoy® member, plus 1x points for members with Silver Elite Status

3x points per $1 on the first $6,000 spent in combined purchases anually on grocery stores, gas stations, and dining

2x points on all other purchases

Benefits

Earn a Free Night Award every year after your account anniversary

Get automatic Marriott Bonvoy® Silver Elite Status each calendar year, plus receive 15 Elite Night Credits each calendar year and earn 1 Elite Night Credit for every $5,000 you spend

Get a one-year complimentary DashPass membership if you activate by 12/31/27
As one of the most extensive hotel programs in the world, a co-branded Marriott credit card can be a great tool for traveling the world no matter what type of property you prefer. With the Marriott Bonvoy Boundless Credit Card, you’ll get benefits when you stay, like an annual free night award (worth up to 35,000 points) and a path to elite status with 15 Elite Night Credits each calendar year plus one additional Elite Night Credit for every $5,000 you spend. On top of that, get automatic Silver Elite status and Gold Status if you spend $35,000 in a calendar year.

All information about the Marriott Bonvoy Boundless Credit Card has been collected independently by and is no longer available through Yahoo Finance.
Rewards rate

Up to 9x total points at Hyatt: 4x when you use your card at Hyatt hotels + 5x as a World of Hyatt member

2x points on your top three spend categories* each quarter

2x points on fitness club and gym memberships

1x point on all other purchases

*Eligible categories include: Dining, shipping, airline tickets when purchased directly with the airline, local transit & commuting, social media & search engine advertising, car rental agencies, gas stations and internet, cable & phone services

Benefits

Spend $50 or more at any Hyatt property and earn $50 in statement credits up to two times per year

World of Hyatt Discoverist status for you and up to 5 employees for as long as your account is open

Get 5 Tier-Qualifying night credits toward status and Milestone rewards for every $10,000 you spend in a calendar year
If you’re a Hyatt traveler, the World of Hyatt Credit Card has plenty to offer for savings on your hotel and resort stays. For ongoing rewards, you’ll earn up to 9x points on purchases at Hyatt hotels; 2x points at restaurants, on airline tickets purchased directly with airlines, local transit and commuting, and fitness club and gym memberships; and 1x points on everything else. Compared to other co-branded travel cards, this lineup of rewards categories is pretty unique, which could make it a good pick if those categories line up with your budget while at home or when you travel.

The points or miles you earn with travel credit cards can be redeemed toward expensive trip costs, such as flights and hotel stays.

In general, there are two primary ways to earn rewards with a travel credit card:
1. Earn a generous welcome offer as a new cardholder
2. Earn rewards on everyday purchases
Qualifying for a sign-up bonus can significantly boost your earning potential as a new rewards cardholder, so it’s essential that you meet the terms and conditions of the bonus.

For example, many welcome bonuses require you to spend a certain amount of money on your card within the first few months of card membership. If you don’t typically spend thousands of dollars over the course of three months, consider timing your card application for when you know you have large, upcoming purchases.

To earn the most rewards possible on everyday purchases, consider travel credit cards with categories that align with your typical spending habits. For instance, if you eat out a lot, a card that rewards you with bonus points or miles on dining may make sense.

Related: Best credit card sign-up bonuses and welcome offers for 2025 — Enjoy boosted first-year credit card rewards

Various travel card perks and benefits can help lower your overall trip costs and make life easier as you travel. These could include airport lounge access, travel credits, free checked bags, and more.

The most beneficial perks for you depend on your travel habits and preferences. If you frequently fly throughout the year, just having a checked bag benefit could save you hundreds of dollars annually.

3. Take advantage of card protections and insurance

Part of the benefit of many travel cards is having built-in purchase protection and travel insurance coverage. This could come in handy if your phone or another item is lost or stolen while traveling, if your luggage is delayed or lost, if your trip is canceled or interrupted, or many other potential situations.

You typically have to pay for applicable trip expenses, such as flights, to take advantage of these benefits.

Related: Get the most from your cards: How credit card protections work

Travel credit cards offer points and miles rewards on your spending, which you can use toward travel-related redemptions, such as flights, hotel stays, and car rentals. You’ll often earn the highest rewards rate on travel purchases with a travel credit card, though many also offer boosted rewards on everyday purchases like groceries, gas, and more.

Many travel cards also provide travel benefits and perks, which could include airport lounge access, annual travel or airline credits, companion airfare, or elite status with an airline or hotel loyalty program.

Learn more about how travel credit cards work

When you’re comparing travel credit cards, it can be useful to separate them into two distinct types: general travel rewards cards and co-branded airline and hotel credit cards.

With a general travel credit card, you’ll have a number of flexible redemption options when you’re ready to redeem your points and miles. You may also have a broader range of benefits. Some general travel credit cards include:
- Chase Sapphire Preferred Card
- Capital One Venture X Rewards Credit Card
- American Express Gold Card
Travel card issuers generally have their own travel portals, like Chase Travel or American Express Membership Rewards. You can use these to book flights, hotels, rental cars, and more. They may also have a number of travel partners, to which you can directly transfer points or miles. For example, American Express Membership Rewards points transfer to Delta SkyMiles at a rate of 1:1.

Related: Amex points vs. Chase points — Who has the better rewards program?

The flexibility of general travel cards means you can travel with any number of different airlines or hotel brands and get the best bang for your buck. Each time you’re ready to book, simply shop around between the portal or partners and compare the best options for your specific travel plans.

These credit cards also allow other redemption options, such as statement credits, gift cards, and cash back. But you’ll generally get the best value by redeeming points or miles for travel.

Airline and hotel credit cards

Airline and hotel credit cards are typically co-branded between the card issuer and the airline or hotel chain. Here are a few examples:
- Alaska Airlines Visa Signature credit card
- United Quest Card
- Marriott Bonvoy Boundless Credit Card
These cards are best suited for travelers who prefer to fly with a specific airline or stay at a certain hotel chain. Maybe you live near a hub airport, frequent a destination where a specific airline offers the most direct flight options, or you enjoy the perks of a specific hotel’s loyalty program.

Instead of flexible rewards points or miles, you’ll earn points or miles within the airline or hotel rewards program, like Marriott Bonvoy points or American Airlines AAdvantage miles — and get a boosted rewards rate when you spend directly with the airline or hotel. These cards often offer a faster path to elite status tiers within these programs as well.

You’ll typically get the best redemption rate when you use rewards for flights with the airline or stays at a hotel, but many programs offer other redemptions, too. Some airline and hotel rewards programs may even allow you to transfer your points and miles to other travel partners like you can with general travel rewards programs.

The added benefits of co-branded cards are designed to appeal to loyal airline or hotel customers. For example, your airline card may get you priority boarding, upgrades, free checked bags, and in-flight discounts. And your hotel card may offer early check-in or late checkout, annual free night awards, and on-site credits.

Co-branded travel cards aren’t for everyone, but they can add a lot to your travel experience if you have a strong airline or hotel preference.

Here are a few key details to look for in any new travel credit card:

No matter your budget, there’s a travel credit card with an annual fee that fits. You can find solid no annual fee options, like the U.S. Bank Altitude Connect Visa Signature card. But there are also plenty of premium travel cards with steep fees — the American Express Platinum Card®, for example, may set you back $695 per year (see rates and fees) but comes with an abundance of valuable benefits and perks that can potentially give you even more value back each year.

The most important thing to keep in mind when deciding whether an annual fee is worth it for you is whether you can get enough out of the rewards and benefits to outweigh the cost — without spending more than you otherwise would or can afford.

For new cardholders, a sign-up bonus can offer major first-year value. These bonuses may be worth anything from 10,000 to over 100,000 bonus points or miles — which can translate to hundreds of dollars in rewards value.

However, you should compare the terms of the bonus to your own budget before you apply. For example, you may need to spend $4,000 within the first three months of opening your card before you can earn the 60,000 bonus points. If that’s not within your typical spending, be careful not to take on debt to meet the spending threshold. Accruing high interest on balances can quickly outpace even the best bonus.

One smart strategy is opening a new travel credit card when you’re booking a trip you’ve been saving for. You may already be prepared to spend more than usual, which can help you reach the bonus requirement faster. Plus, you can earn rewards on those travel purchases to put toward future trips.

Also look out for limited-time offers from top travel credit cards. Occasionally, issuers will increase the welcome bonus for a period of time — if you see a promotional offer that fits within your budget, that could be a great time to apply for a new card.

Rewards are one of the biggest reasons for many people to open a travel credit card.

Earning rewards with travel cards often works in one of two ways. You’ll either earn rewards on your everyday spending (groceries, gas stations, restaurants) to redeem toward future travel, or earn rewards on your travel spending to put toward future travel.

Some cards offer a combination of these rewards, but knowing which type of spender you are can be useful. If your monthly budget is largely dedicated to everyday spending, you may get more value from the former. But if you travel frequently and spend a lot of money on flights, hotels, and rental cars, you can quickly rack up more points with travel-based rewards categories.

4. Travel perks and benefits

Many travel rewards credit cards — especially the most premium cards with high annual fees — really shine when it comes to added perks and benefits. These benefits can help you offset the annual fee and save money each time you travel.

Take the $395 annual fee Capital One Venture X Rewards Credit Card, for example. Each year, you’ll get a $300 annual credit for bookings through Capital One Travel and 10,000 bonus miles (equal to $100 towards travel) on your account anniversary. Already, that’s enough to wipe out the annual cost — before accounting for any rewards and other benefits (like up to $120 in fee credits toward TSA PreCheck or Global Entry and Priority Pass Select airport lounge membership).

Just remember: Choose a card with benefits that help you save on purchases you would still have made otherwise. If you tend to arrive shortly before takeoff and don’t care about airport lounge access, you won’t actually get the $200 potential value from that benefit.

5. Travel insurance and protections

One unique aspect of travel credit cards is the protections you can get as a cardholder when you travel. Common protections offered by travel credit cards include trip cancellation and interruption insurance, car rental insurance, trip delay reimbursement, baggage delay insurance, access to emergency assistance services, and more.

As long as you pay for your travel expenses with the card (booking flights, hotels, tours, etc.) you can qualify for these travel protection benefits. Like any coverage, though, you should make sure to read the fine print of what your individual card offers. These benefits can vary greatly between different travel cards, so make sure to look for details in your card agreement.

More travel credit card tips

Travel credit cards are worth it if you get enough value from the card’s benefits and rewards to outweigh any potential costs, such as an annual fee. Unlike some other rewards cards, like cash-back credit cards, travel cards are more likely to carry annual fees in exchange for their high rewards rates and annual benefits. They might not be worth it if you don’t travel enough to take advantage of these card benefits and rewards.

However, a travel card can still be worth it if you’re not a frequent traveler. Even if you travel only once or twice per year, you can accumulate points throughout the year to offset your airfare and hotel costs when you do go on a trip.

See if travel credit cards are worth it for you

Travel rewards credit cards can make a great addition to your wallet, even if you only travel a few times per year. Be sure to compare different travel card options to find the combination of annual fee, rewards, benefits, and sign-up bonus that works best for your travel plans and spending.

There may be a few reasons why a travel credit card isn’t right for you, though:
- You’re already in credit card debt. Avoid adding another card — especially one with a potentially high annual fee — to your wallet if you already have high-interest debt. Eliminating those balances will help you save a lot more in interest than any value travel rewards could offer.
- You don’t want to keep up with a rewards strategy. Travel credit cards can be most lucrative if you maximize how you earn and redeem rewards. If you don’t want to spend the time strategizing bonus categories and the best redemption options, a credit card with a simpler rewards structure may be better for you.
- You don’t have great credit. Travel credit cards generally require a good-to-excellent credit score to qualify for approval. If your credit isn’t in a great place right now, focus on improving your score before you apply for a new card.
If you are ready to open a travel credit card, time your application wisely. The spending thresholds to earn your welcome bonus can be high, so you may want to plan your application around your next trip. The money you’ve already saved can help you score the bonus when you book your travel, and you’ll also earn bonus points or miles for your next trip.

If you’re new to travel credit cards, the Capital One Venture Rewards Credit Card is a great place to start — you can earn 2x miles on everything, and it’s easy to redeem your miles through Capital One’s travel portal.

Before you apply for any new travel card though, look at your frequent spending and travel to find the best one for your individual goals.

When traveling abroad, look for credit cards that don’t charge foreign transaction fees. All of the cards on the list above waive foreign transaction fees, so you won’t have to worry about extra charges when you use them to travel internationally.

One thing to keep in mind while traveling abroad is worldwide acceptance of your card. It can be useful to travel with more than one credit card on different card networks (these include Visa, Mastercard, American Express, and Discover).

For a premium travel experience, the Capital One Venture X Rewards Credit Card is our top pick. However, there are other premium travel cards with valuable benefits for travelers — including annual credits, elite status, bonus rewards, and more — for higher annual fees.

Read our full review of the Capital One Venture X Rewards Credit Card

Compare two more premium travel credit cards: The Platinum Card® from American Express and the Chase Sapphire Reserve®

We began our search for the best travel cards with a list of 70 credit cards that offer travel rewards and benefits. This list includes general travel cards with flexible rewards programs, as well as co-branded hotel and airline cards that earn points and miles within a specific program. Our methodology focuses on cards that offer the greatest value to the broadest range of cardholders — without a significant annual cost.

We start with each card’s welcome offer, which we rate based on the value of the bonus, the spending required to qualify, and a ratio comparing the bonus points or miles earned to the card’s annual fee. The more you’re spending to own the card, the more value we believe you should get in return.

Another large portion of the overall ratings is rewards and ongoing benefits. We give preference to cards with rewards categories that span both travel and everyday spending (gas stations, supermarkets, dining, streaming services, etc.) to help ensure you can maximize points even when you’re not on-the-go. We also consider redemption options for each card, with the most flexible rewards programs earning higher scores. Finally, we compare travel benefits like annual statement credits, airline status and award nights, companion offers, and other ongoing perks that might make opening a travel card worth it over the long-term.

We also look at each card’s annual fee, ongoing APR, credit score access, and foreign transaction fees — as well as issuer-specific information like customer service contact information, mobile app user ratings, and fraud protections. These are details we evaluate for every type of credit card.

The final picks on our list are the travel credit cards with the highest overall ratings given each of the criteria above. We sort out general travel cards first — these are the options that make up the primary list, because they are more flexible for a larger number of travelers. But we also include top-scoring hotel and airline co-branded cards. These are great options for some travelers, though you should consider how often you travel with the hotel or airline before you consider one of these cards.

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
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November 3, 2025
Exclusive: Airwallex crosses $1 billion in annualized revenue as fintech unicorn takes on U.S. competitors like Ramp and Stripe | Fortune

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As the fintech sector comes roaring back, companies like Ramp and Stripe have dominated headlines with eye-popping funding rounds and rapid growth. But the Singapore-based Airwallex is not far behind, crossing $1 billion in annualized revenue as of October with a year-over-year growth rate of 90%, according to cofounder and CEO Jack Zhang.

In an interview with Fortune, Zhang said that his company, known for cross-border payments and foreign exchange, has diversified its product suite into a slew of other offerings, including business banking accounts and spend management, putting it directly in competition with not only Ramp and Stripe, but also Mercury, Brex, Revolut and a who’s who of fintech giants. “We’re competing with too many people,” Zhang joked.

Airwallex still lacks the name recognition of its rivals, at least in the U.S., but that could soon change as the company accelerates its push into North America and Europe. Founded in 2015, it took nine years for Airwallex to reach its first $500 million in annualized revenue, but only one more year for that to double to $1 billion. With gross profit margins above 60%, according to Zhang, Airwallex is quickly becoming a formidable player in the U.S. The company was last valued at $6 billion in a May funding round, compared to Ramp’s last valuation of $22.5 billion and Stripe’s $106 billion.

After achieving cash flow positivity at the end of 2023, Airwallex decided to re-invest in the business but is on target to reach profitability once again in the fourth quarter of 2025, a spokesperson told Fortune.

“A lot of the reason we’ve succeeded is we’re an outsider,” Zhang said. “We’re not part of the Silicon Valley ecosystem.”

From Melbourne to San Francisco

Many fintech companies focus on one key product, often using it as a wedge to expand further into a company’s financial suite. For Ramp, it was corporate credit cards; for Mercury, business bank accounts; and for Stripe, payment processing.

Founded in Melbourne, Airwallex later moved to the Asian finance hub of Singapore after launching in the country in early 2022. Zhang said that his company has had to be globally focused from day one, given Australia’s relatively small market. While its initial focus was cross-border payments, Zhang said the company’s revenue is now spread over an array of products, with business accounts similar to Mercury comprising 34% of its revenue, spend management 20%, and payments 30%. Airwallex also offers its global network of licenses and services to other fintech companies through API integrations, such as facilitating Brex, Rippling, and Deel’s international expansions. “Our real moat is the infrastructure, both on the regulatory side and on the financial services side, that we built over the last decade,” Zhang said.

As Airwallex pushes into North America, including opening a U.S. headquarters in San Francisco last year, Zhang admits that he won’t compete with a company like Ramp on U.S. focused customers. Airwallex’s focus, instead, is on companies that want a global presence and need to be able to issue employee cards, open bank accounts, and pay merchants across dozens of jurisdictions. Zhang said that North America and Europe now comprise close to 40% of the company’s revenue after sitting at zero just a few years ago.

“If you’re a U.S. company and you only have operations in Ohio, you better go with Ramp,” Zhang said. “But if you’re a U.S. company that wants to sell in Australia, wants to sell in Singapore, wants to sell in the U.K., wants to sell in Canada, wants to do that efficiently, and wants to have banking, payments, spend, and treasury management all in a single platform, that’s where Airwallex comes in.”

Like for most other companies, AI is top of mind for Airwallex, with Zhang working on a wallet product that he says will serve as foundational infrastructure for global agentic payments. He says that he wants the AI agents business to scale to a “few $100 million” before he considers going public.

The company has also hired stablecoin developers, another buzzy area of fintech, though he remains skeptical that blockchain can solve global money movement better than existing options. “The merchant adoption is still very low and there’s nothing happening on the B2B [business-to-business] side,” he said. “I’m 99% skeptical, 1% probability.”

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Leo Schwartz

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November 2, 2025
DC police arrest Md. man for stealing from dozens of gyms in Fairfax Co. – WTOP News

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A Maryland man was arrested last week for stealing personal belongings from people’s lockers at private gyms around the D.C. area.

After months of investigative work, a man wanted on nearly 140 warrants for stealing from gyms across the region has been arrested.(Credit Fairfax County Police)

A Maryland man was arrested last week for stealing personal belongings from people’s lockers at private gyms around the D.C. area.

Fairfax County police said in a news release Tuesday that after a nearly yearslong investigation, they arrested and charged 50-year-old Robert Brockington, of Maryland, on Oct. 23. He was wanted on 140 charges of theft, with 94 of them stemming from Fairfax County.

Authorities said, since December of 2024, Brockington targeted gyms and health club facilities, breaking into locker rooms and stealing credit cards and personal belongings of people as they exercised.

Police said he targeted Planet Fitness locations in Seven Corners, Springfield and West Springfield, as well as a Results Fitness in Hybla Valley and a Gold’s Gym in Annandale.

Brockington is being held at the DC Central Detention Center without bond and authorities said he will be extradited to Virginia where he is facing 139 pending criminal warrants and related charges for the alleged incidents.

Even as Brockington remains in custody, police say there are things that people can to do protect their personal belongings in a gym, including using a strong lock, leaving valuables at home or in your vehicle and protect your bank cards.

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Ciara Wells

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October 29, 2025

Tag: credit cards

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