With Citi Home Mastercard, you can earn 1 percent on your purchases which can be paid directly to your mortgage principal, regardless of your lender. There is no annual fee and no limit on how much you can earn. To make things easy, Citi will automatically apply the rebate amount to your mortgage each year.
GMAC Mortgage MasterCard, issued by MBNA, allows cardholders to earn one point for every dollar spent, and once you reach 2,500 points, $25 is automatically credited to your mortgage. Although there is no annual fee and no annual limit on how many points can be earned, the rewards are only applicable for GMAC mortgage products.
With gasoline prices as expensive as they are, credit cards with a gas rebate reward are ever more appealing. According to an analysis by CardWeb.com, a consumer could save as much as $300 a year on gasoline by choosing to pay with a credit card at the pump. The gas rebate cards come in every station — from Citgo to Shell — and offer between 1 percent and 10 percent back on gasoline purchases.
Some cards only offer the savings at specific stations, while others allow a user to fill-up anywhere. Additionally, all of the major rewards cards in this space do not charge an annual fee.
The Web site www.cardratings.com helps consumers compare various cards in one place.
Charging for Charity
In addition to cards that reward you and your family for spending, there are many affinity cards that reward others for your purchases. Specifically, not-for-profits are increasingly linking with financial institutions to receive a donation every time a given consumer uses their credit card.
