MoneyLife

Best Rewards Credit Cards

By Grace Kilander
Best rewards credit cards

Looking for the best rewards credit cards to maximize your spending? You might find yourself feeling discouraged if you have a poor credit score and you’re offered an interest rate as high as 27%.

Good thing there are credit card alternatives without high APRs while earning the rewards that you deserve! Before you desperately fill out any credit card applications, you should ask yourself these very important questions. 

Click here to check out some of the best credit cards.

Are the rewards worth it?

If you’re browsing credit cards simply for the rewards perks, find one that is going to benefit you daily. For example, college students would likely benefit from a credit card that offers gas station rewards. If you struggle with weak credit or have none, your shiny new credit would likely be accompanied by high-interest rates.

In the event, your unable to pay off your credit in full every month, the amount you’d pay on interest for filling up your tank wouldn’t outweigh the rewards you earned using your credit card. 

Low credit score means higher interest rates 

Getting in the groove of responsible money management habits can take some serious self-discipline. Most credit card companies will look into your debt to income ratio, credit score, income, and banking history. If you aren’t quite there yet, a high-interest credit card could put you in deep debt without the proper knowledge of credit education. 

Thankfully there are other ways to earn rewards when you’re a MoneyLion member. When you sign up for a RoarMoney account, you can shop with your MoneyLion Debit Mastercard or RoarMoney virtual card and earn rewards all year round. Online cashback deals, priceless surprises from Mastercard, and Shake ‘n’ Bank are among a few ways to get paid for shopping. 

Offers change monthly, be sure to check the MoneyLion mobile app daily for the hottest deals.

Annual fees

Most credit cards with beneficial perks usually come with high annual fees. If you don’t have excellent credit, the annual fees and interest alone could put a dent in your pocket. When you bank MoneyLion, our debit Mastercard or RoarMoney virtual card has no annual fees, only $1/month with 3 different ways to earn rewards. If you don’t have the money in your bank account, we simply won’t charge your card – no insufficient funds or overdraft fees. We believe we’re a part of your success and want to encourage responsible spending. 

Most cards have limited rewards categories 

Some credit card companies offer quarterly rewards and each new quarter offers a different bonus. Often the rewards percentage lowers after you hit a maximum and you must activate the rewards category. If your busy with life, remembering to activate your rewards could slip your mind and you might not earn your highest potential rewards. 

Our powerhouse MoneyLion app makes it easy to view all your offers without needing to activate them and our online cashback deals are available right in the rewards tab. When you use your MoneyLion Debit Mastercard or RoarMoney virtual card you could win a chance to earn priceless surprises no matter where you spend as long as it’s $10 or more. 

Looking to shake things up? When you spend over $10 on your RoarMoney virtual card of MoneyLion Debit Mastercard, we’ll send you a push notification letting you know that your purchase is accepted and you can literally shake your phone and potentially win! You could snag special event tickets, cash, or trips!

Whether you like to cashback shop online or in person, we have reward earning opportunities for you! 

Rewards program that builds credit

Forget borrowing fast cash from predatory payday lenders or high-cost credit card companies, MoneyLion offers credit solutions that outperform any of the best rewards credit cards out there! We are the ideal alternative for those who need cash fast but have little to no credit looking to improve their score and safely borrow.

Download the MoneyLion app and sign up for the Credit Builder Plus membership for only $19.99. You could earn the chance to borrow up to $1000 with a competitive interest rate Credit Builder Loan. A portion of the funds is deposited into your account the day you’re approved and the rest is held for you in an interest-earning reserve account. After you pay off your loan in full, your remaining funds are released to you plus the interest. 

Take your interest earnings and turn them into investment gains with our investment portfolios or hop on the mobile app and buy your special someone a gift through the rewards tab. 

We’ll help you improve your credit while you borrow– some MoneyLion members have seen their score go up as much as 60 points in 60 days! Learn how to responsibly manage and build healthy savings habits for your future

All-in-one finance tool

A MoneyLion account offers a powerhouse banking solution that fits to handle all your finances including banking, credit monitoring, rewards, 0% cash advances, investment portfolios, and more–all-in-one place. There’s no need to hop from banking to bank or app to app, everything you need to organize and manage your future is in the palm of your hand. 

Rewards and credit building 

Looking for a credit card with the best rewards, might not be the best option for those with credit challenges. Alongside borrowing perks like 0% APR Instacash, you get access to early paychecks up to 2 days when you link your direct deposits with MoneyLion. Sign up for a RoarMoney account today and open the door to a new financial future!

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