Morgan Stanley Credit Card from American Express®
Main Credit Card Features
Point rewards let you earn points on every purchase you make with your rewards credit card. Credit card points stay in an account until you redeem them within the credit card’s portal. You can use your points for gift cards, cash back, a statement credit, or travel, hotel, and other rewards.
Using your credit card points for travel allows you access to many different airlines. You could purchase your ticket with points, or use them to upgrade your experience to business or first class. When you use your points at a hotel, you can pay for your room, move to an upgraded room, or purchase other amenities as specified. Some cards allow you to redeem your points for cash back, either in the form of a check or a statement credit. Other programs let you purchase goods, services, and gift cards through their rewards portal. These items may be listed at discounted prices compared to retail stores, and cost you less to purchase this way.
If you’re chasing sign-up bonuses, looking to upgrade your travel experience, or want to maximize your rewards, points are best. Travel using points is subjected to blackout dates just like airline miles. You also have fewer redemption options, and less flexibility to use the points than with straight cash back. The value of your points depends on if the redeemed item is on sale. You risk your points being devalued in the process. Due to this, it can be a little complicated using points sometimes.
A no annual fee credit card is excellent as a backup credit card as you don’t need to pay to maintain it. You might need a backup credit card if your primary one got lost or stolen. Another benefit of a no annual fee credit card is that you can improve your credit to debt ratio if you don’t use it consistently. You may also consider this card if you are looking for a specific perk.