Three Banks Where You Can Redeem Credit Card Rewards for Gift Cards

KANIKA SINGH RATHORE,

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Although small in size and virtually weightless, gift card There are huge numbers of people in the consumer world – according to them, they are recipients’ favorite gifts during the holidays. data From Wells Fargo, and, as it turns out, they’re a convenient way to withdraw cash credit card Awards too.

“Gift cards are a standard part of almost every major credit card rewards ecosystem,” said Kate Faxon, vice president of member rewards at Built, a loyalty program for renters. “They are easy for issuers to source, easy for members to understand, and provide a straightforward way to use points. For many programs, they also serve as a ‘baseline’ redemption option: predictable and familiar, especially around the holidays.”

While the variety of gift cards available may vary by credit card issuer, rewards programs from well-known banks such as capital onechase, and City Offer gift card redemptions that can be your go-to way to purchase last-minute gifts this holiday season.

capital one

Capital One’s rewards program is available to customers whose cards earn cashback or miles. The rewards portal accepts both cash back and travel miles earned by your card. You can also purchase gift cards with your card, then retroactively redeem rewards to cover the purchase. Finally, cardholders can connect their Rewards to Amazon.com to pay for purchases with Rewards points

Capital One cards that offer rewards include Quicksilver, Quicksilverone, Venture

One expert said, ‘The bigger picture is that gift card redemptions are generally designed to be value-consistent: predictable and easy to redeem, but rewards rarely have the highest value compared to channels like travel transfer partners, which require more customer knowledge.’ ,getty images,

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Chase Ultimate Rewards is the name of Chase’s rewards portal. Users can directly log into the portal or access it through their banking account. From there, you can search for gift cards and make purchases using your rewards. It offers hundreds of gift options, including popular brands like Apple, Chipotle, Lowe’s, Nordstrom, Sephora, and Target.

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Cards that earn Ultimate Rewards points include Freedom Flex, Freedom Unlimited, Sapphire Preferred, and Sapphire Reserve.

City

Citi’s rewards program is called “ThankYou Rewards.” Through this, you can convert your rewards points into gift card purchases at a rate of one cent per point. So, a $50 gift card would be worth 5,000 points. However, the portal may offer gift cards at a discount, increasing the value of your points in relation to the face value of the card.

The program offers gift cards to over 100 retailers, including AMC Theatres, Apple, Fanatics, Pottery Barn, REI, and dozens of restaurants. Faxon explained that these options are typical of the gift card options you get from rewards programs. Independent by email.

“Most programs these days offer instant digital gift cards, especially for major retailers, restaurants and entertainment brands,” he said.

Citi credit cards that earn rewards that you can redeem for gift cards include Citi Strata, Strata Premier, and Double Cash.

Credit card rewards portals usually feature gift cards for major retailers like Apple

Credit card rewards portals usually feature gift cards for major retailers like Apple ,getty images,

How to redeem rewards

If you have a rewards card, you’re probably used to seeing that the more you spend and get bonuses, the more your rewards balance grows. If you haven’t tried redeeming your points, you’re not alone — a December 2024 study from personal finance site Bankrate found that one in four customers redeems rewards not redeemed Any award in the 12 months prior to the survey.

In general, rewards redemptions work in similar ways, no matter the bank:

  • Login to your account.
  • Access your issuer’s rewards portal.
  • Search for a gift card by its retailer’s name.
  • Click on the card you want.
  • Make purchases using your rewards.
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redemption rates

In general, the value of your rewards points (or miles) ranges from half a cent per point to one cent per point, which is much lower than some of the top redemption rates for travel rewards, Faxon said. However, redeeming your points for gift cards has its place.

“The big picture is that gift card redemptions are generally designed to be value-consistent: predictable and simple to redeem, but rarely harness the highest value of rewards compared to channels like travel transfer partners, which require more customer knowledge,” she said.

Delivery methods

Faxon said that, in general, you can redeem your points or miles for digital gift cards, but physical cards are sometimes available as an option.

“Physical cards still exist, but are becoming increasingly specialized; they take longer to ship and they don’t fit into the way people redeem during high-need periods like the holidays,” Faxon said.

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