Reward points can take different forms and have different values, depending on the loyalty program and the entity offering it. Here are some of the most common types of reward points:
Airline points: These points are generally accumulated through airline loyalty programs. They can be exchanged for airline tickets, upgrades and other travel benefits.
Hotel points: These points are earned by staying at hotels affiliated to a specific loyalty program. They can be used for free nights, room upgrades or other hotel benefits.
Credit card points: Many credit cards offer reward programs where users earn points for every dollar spent. These points can be redeemed for travel, merchandise, gift cards and more.
Shopping Points: Some retailers offer points for purchases that can be multiplied depending on the credit card used. These points can usually be exchanged for discounts or free items in the store. They can be associated with grocery stores, service stations, entertainment services (cinemas, theaters, etc.).
Cashback: Rather than earning traditional points, some programs offer“cashback” or a percentage of your purchases as a credit to your account.