When it comes to credit card rewards, cash back is the undisputed king. No matter where you’re from, how much money you make or — gasp! — your political views, it doesn’t make any difference. Americans love, love, love their cold, hard cash.
But what if you’re looking for credit card rewards that go beyond cash? What if you’re looking for a rewards experience that money can’t buy? You’re in luck. More and more cards are offering up exactly that benefit.
From backstage access to the hottest concerts to private dinners with Michelin-starred chefs and beyond, credit card issuers are ramping up efforts to lure in people who value experiences and adventures more than cash and merchandise. As you might expect in the ultracompetitive credit card marketplace, which has been in the throes of a rewards card arms race in recent years, these types of credit card perks are becoming more common and more compelling.
Here are a few recent examples of outrageous credit card perks.
[See: 8 Ways to Maximize Your Credit Card Rewards.]
Private dinner at Michelin-starred restaurant Daniel in New York City with Chef Daniel Boulud. There’s nothing quite like indulging in a special meal cooked just for you by a world-class chef, but that’s just the perk that Starwood was offering via its SPG Moments program. The dinner with Boulud is described as “a rare and exclusive evening of cocktails and hors d’oeuvres, an interactive cooking demo, a kitchen tour, and a five-course tasting menu with wine pairing.” It’s the kind of rewards event foodies would jump to take advantage of. Boulud is a winner of the prestigious James Beard Award and a titan in the culinary world. While Starwood is a hotel chain, not a credit card company, one of the fastest ways to rack up its Starpoints and earn rewards is through its Preferred Guest credit card from American Express. The winning bid on the SPG website was 75,500 Starpoints.
[See: 12 Simple Ways to Raise Your Credit Score.]
Watching Boston Red Sox pregame batting practice on the field at Fenway Park. Sports fans relish the chance to watch their heroes up close. If you have the Boston Red Sox Extra Bases MasterCard, you can do just that. For 40,000 rewards points, you can stand on the warning track behind home plate and watch Sox stars Hanley Ramirez, Dustin Pedroia, Mookie Betts and other baseball stars take batting practice before a game. The rewards package also includes a tour of the stadium, four tickets to the game and your name on the scoreboard — and you’ll do it all in one of the most beautiful, historic sports stadiums in the entire nation.
On the track with Lamborghini at Pocono Raceway. Sometimes your credit card gets you in the door for an extravagant experience, but you have to pay to walk through it. That’s the case here. Thanks to American Express’s “By Invitation Only” Membership Experiences program, cardholders get the opportunity to drive a Lamborghini Aventador S, Huracan Coupe and Huracan RWD Coupe on one of the most famous racetracks in the country. American Express says drivers will take part in “cornering, acceleration, braking and full-track driving exercises under the guidance of professional Lamborghini instructors” and will also have a private lunch with a Lamborghini executive. It’ll cost cardholders $750 for either a morning or afternoon session.
[See: 10 Easy Ways to Pay Off Debt.]
Backstage tour for Eric Clapton concert at The Forum in Los Angeles. He’s a bona fide legend and unquestionably one of the greatest guitar players in rock history, and Chase Ultimate Rewards just offered its members a chance to see Clapton in concert and have a unique experience afterwards. The package: Two tickets to Clapton’s Sep. 13 show and a backstage tour prior to the show. There’s not a lot of detail about what that “backstage tour” entails — except that it would be “followed by light bites and cash bar in the Chase Lounge” — but the chance to go backstage before a show like this is an opportunity that most folks never get. The cost was 50,000 Chase points, and it sold out.
The bottom line. The right credit card, used the right way, can make your life better. But no one should ever overspend to get credit card rewards, regardless of how cool those rewards might be. So, before you apply for that new rewards card, make sure you can comfortably reach any minimum spending thresholds you have to hit and can pay your balance off in full each month. If you can do both of those, the credit card can be great, getting you access to people, places and things that would otherwise be out of reach.
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4 Credit Card Rewards Perks to Drool Over originally appeared on usnews.com
