Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
Credit card issuers are temporarily offering the ability to skip payments for cardholders affected by the coronavirus pandemic. But if you have the ability to keep using your credit card at this time, it may help you afford essential purchases.
If you haven't already, take a look into whether your credit card's rewards or benefits will help you save on groceries, food delivery or household items. Chances are, there are some benefits you may not know about.
For instance, redeeming rewards or using dining statement credits can help lower the cost of a grocery run or take-out from your favorite restaurant. This makes essential expenses more affordable and can help you prioritize bill payments for other necessities, like your mortgage or auto loan.
Below, Select reviews how you can use your credit card to offset the cost of essential purchases during the coronavirus pandemic.
Redeem rewards to offset purchases
If you have a rewards card, now may be a good time to cash in any cash back, points or miles you've earned. The best way to redeem rewards depends on the card you have and can include statement credits, gift cards or paying with points online at checkout. Keep in mind, you may have to earn a minimum amount of rewards (often $25 worth) before you can redeem them.
Here's how each redemption option can help you, depending on the type of rewards card you have.
Statement credit
Statement credit redemptions are a good choice if you have a cash-back card, such as the Citi Double Cash® Card (see rates and fees) or the Blue Cash Preferred® Card from American Express. I recently redeemed a combined $110 in cash back* from both cards as statement credits to offset grocery delivery orders and other essentials.
If you have a points or miles card, statement credit options are typically worth less than redeeming rewards for gift cards, but can still save you money, which might be important to you right now.
Gift cards
Redeeming rewards for gift cards is a great option for a points or miles card and often provides a 1:1 value, meaning one point is worth a penny. I recently used 2,500 points from my Citi Rewards+® Card to get a $25 Target gift card, which helped offset a $50 purchase. And I also received an instant 5% discount on my order (plus free shipping) by paying for the remainder of my order with the Target Circle™Card.
Keep in mind, the amount of points or miles required for a gift card varies based on the card you have and the type of gift card. Another thing to note is that card issuers may change the reward requirements for certain gift cards at any time. For example, I noticed that a Target gift card with my American Express® Gold Card had a lower redemption value compared to other gift card options.
Pay with points
Most major credit card issuers offer "pay with points" options that allow you to use credit card rewards during online checkout at popular retailers, such as Amazon. This feature lets you easily apply your points or miles to your order total and offset purchases.
However, pay with points redemptions often devalue your rewards, particularly if you are redeeming travel miles for cash value at the checkout. Even so, if trimming costs are more important than travel to you right now, this may be a worthwhile option. If not, you can always store up your miles, especially ones that don't expire, and redeem them for travel later on.
Take advantage of dining credits
Many of the best dining and travel cards offer annual statement credits worth up to $200 that can help offset the cost of food delivery from your favorite local restaurant. Here are three of the most generous offers.
The American Express Gold Card is great for earning valuable Membership Rewards® points at restaurants worldwide and U.S. supermarkets. Membership Rewards® points transfer to many of the top airline and hotel loyalty programs, which makes this card one of the best options for earning travel rewards.
- You can earn $400+ in dining and rideshare credits every year (Enrollment required for select benefits mentioned)
- Exceptionally rewarding for eligible restaurant and U.S. supermarket purchases
- No foreign transaction fees
- Large annual fee
- Credits are more complicated, you earn them monthly or semi-annually
- Spending caps on the top bonus categories
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You'll know upfront exactly how much you'll pay.
- $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That's up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- Enjoy complimentary Hertz Five Star® Status benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Book two nights or more with The Hotel Collection through AmexTravel.com and receive a $100* credit towards eligible charges at over 1,300 upscale hotels worldwide.§ *Eligible charges vary by property.
- Book your travel through the Amex Travel App™ with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
- See Rates & Fees
Foreign transaction fee
None
The offer: Annual $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
The enrollment requirement: Complete a one-time activation online or by calling the number on the back of your Amex Gold card.
The Chase Sapphire Reserve® is a standout premium credit card with luxury perks including, hotel credits, complimentary hotel elite status, travel credits, dining credits, rideshare and delivery benefits and much more.
- Access Priority Pass lounges, including unlimited access to Chase Sapphire Lounge® by The Club locations.
- Up to $300 in annual travel credit each account anniversary year
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Top-tier travel and shopping protections
- High annual fee
- Requires a high credit score
- Complicated list of benefits
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get $3,000 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase TravelSM, including The EditSM and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority PassTM Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary subscriptions to Apple TV and Apple Music for a minimum of one year when activated by June 22, 2027, a value of $288 annually.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
The offer: You can receive a complimentary DashPass membership when you activate by December 2027. DashPass provides free delivery and lower service fees from hundreds of restaurants on orders of $12 or more.
The enrollment requirement: To activate the DashPass benefit, add your Chase Sapphire Reserve® (see rates and fees) as the default payment in the DoorDash app or online by December 31st, 2027.
The American Express Platinum Card® is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned)
- Access to 1,550+ airport lounges, including Priority Pass™ lounges (enrollment required) and Amex Centurion lounges
- Statement credit offers worth up to twice what the annual fee costs
- Elite status perks for hotels and rental cars (Enrollment required for select benefits mentioned)
- High annual fee
- Many statement credit offers are complicated and are earned in increments or limited to specific purchases
- Not as rewarding for purchases as other lower-fee travel cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 175,000 Membership Rewards® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.
- With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection, over $850 of annual value, with access to Centurion Lounges, 10 Delta Sky Club visits (subject to visit limitations) when flying on an eligible Delta flight, Priority Pass™ membership (enrollment required), and other select partner lounges. *As of 01/2026
- $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
- $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
- $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.
- $400 Resy Credit + Platinum Nights™ by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card® to pay for eligible purchases with Resy, including dining purchases at over 10,000 qualifying U.S. Resy restaurants. Enrollment required. As a Platinum Card® Member you have special access to reservations on select nights at participating sought after Resy restaurants in select cities through Platinum Nights™ by Resy. Simply add your Platinum Card® to your Resy profile to book your reservation.
- $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- Start your vacation sooner and keep it going longer. When you book Fine Hotels + Resorts® through American Express Travel®, enjoy noon check-in, when available, and guaranteed 4PM late check-out.
- $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That's up to $300 in statement credits each calendar year. Enrollment required.
- $155 Walmart+ Credit: Get up to a $12.95* statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Platinum Card®. *Up to $12.95 plus applicable taxes on one membership fee.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- $895 annual fee.
- Terms Apply.
- See Rates & Fees
Balance transfer fee
N/A
Foreign transaction fee
None
The offer: Up to $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. An Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit. Terms Apply.
The enrollment requirement: You will need to add your Platinum Card® from American Express to your Uber account and it takes up to 24 hours for the Uber Cash credit to be available after your card has been added. Benefit renews annually.
Consider shopping discounts
Many of the top card issuers, such as American Express, Chase and Bank of America, provide exclusive discounts at dining, retail and travel merchants. Now can be a great time to review your available offers and see if any meet your spending habits.
These offers typically give you either a percentage or set dollar amount of cash back, credited to your account within a few weeks from purchase. You can usually find them advertised near your rewards portal or along the side of your account summary page once you log in.
For example, I have a current offer for a $10 statement credit when I spend $100 in store at Stew Leonard's (up to 2X), on top of the points I earn. That means I can earn up to $20 back, after spending $200.
Take note, activation is required before you make a purchase and you must pay with your card. There may also be limitations, such as the offer is only valid on in-store purchases or only online.
These offers also vary based on location and are usually only available for a limited period of time. Plus, you may need to meet minimum spending requirements, and there are maximum earning benefits.
Learn more:
- What is credit card forbearance?
- Here's how to manage your credit card payment during the coronavirus pandemic
- How to delay your credit card payment during the coronavirus pandemic
- How to use your credit card rewards to donate to coronavirus relief
- How to avoid stress shopping with your credit card during the coronavirus outbreak
For rates and fees of the Blue Cash Preferred® Card from American Express, click here.
For rates and fees of the American Express® Gold Card, click here.
For rates and fees of the American Express Platinum Card®, click here.
* Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
Information about the Target Circle™ Card, Citi Rewards+® Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.
