Entertainment spending generally accounts for a large portion of consumer spending in the United States — more than gasoline and clothing.
But while entertainment spending has historically been a common spending category, few cards explicitly offer bonus rewards for entertainment spending. In part, this is likely due to the ambiguity of the category itself.
Which shopping code as entertainment?
Entertainment spending can theoretically encompass many different things. And many things that you would assume would fall under that umbrella end up being coded differently on your credit card statement.
Amusement parks, ski passes and dinner shows are expenses that could easily be coded as travel or meals, depending on the card, the specific merchant and where you make the purchase.
You can get more niche in the entertainment category by specifying which cards might be better for things likestreaming services,amazon shopping,music festivalsesports event.
In this guide, we'll look at cards that offer rewards on more general entertainment spending.
The Best Credit Cards to Maximize Your Entertainment Spending
|Card||welcome bonus||entertainment rewards fee||annual fee|
|Capital One Savor Cash Rewards Credit Card||$300 after spending $3,000 in the first three months of opening the account.||4% cash back (or 8% if purchased through Capital One Entertainment).||$ 95.|
|Capital One SavorOne Cash Rewards Credit Card||$200 after spending $1,000 in the first three months of opening the account.||3% cash back (or 8% if purchased through Capital One Entertainment).||$ 0.|
|Visa Signature Card and US Bank Money||$150 after spending $500 in the first three months.||5% cash back on your first $2,000 of combined qualifying purchases each quarter in any two categories you choose.||$ 0.|
Capital One Savor Cash Rewards credit card information and U.S. Bank Cash+ Visa Signature Card were independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
What is Capital One Entertainment?
Capital One Entertainmentis Capital One's ticketing platform, offering access to music, sporting and gastronomic events. The two Capital One cards mentioned in this guide offer 8% cashback when purchasing tickets through the platform.However, the increased refund rate excludes:
(i) Tickets purchased through the Capital One cardholder-only pre-sales page (www.capitalone.com/pre-sales); (ii) tickets purchased directly through Capital One Hall or Capital One Arena ticketing services; and (iii) dining or shopping reservations through Capital One Dining.
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Capital One Savor Cash Rewards Credit Card
Welcome bonus:Earn a $300 cash bonus after spending $3,000 in the first three months.
Reward Rate:Earn 8% cash back on Capital One Entertainment purchases, 4% on dining, entertainment purchases and popular streaming services, 3% on grocery shopping (excluding superstores like Walmart and Target), and 1% on everything else.
How entertainment is defined: Capital One defines entertainment shopping quite broadly. According to the Capital One website,entertainment purchases includetickets to movie theaters, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, nightclubs, bowling alleys, pool halls, record stores and video stores.
Have in mind:Additionally, Capital One only allows you to carry two personal Capital One branded cards at a time, and also tends to restrict you to one new card every six months, including both business and personal cards. If you are interested in this card,remember these restrictionsas you plan an application strategy.
check theCapital One Savor card reviewfor more details.
Capital One SavorOne Cash Rewards Credit Card
Welcome bonus:Earn a $200 cash bonus after spending $1,000 within the first three months of opening an account.
Reward Rate:Get 8% cashback on Capital One Entertainment purchases, 3% on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart and Target), plus 1% on all other purchases.
How entertainment is defined: Capital One defines entertainment the same on both Savor cards, which means you will receive bonus rewards on tickets to cinemas, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, nightclubs, bowling alleys, pool halls, record stores and video stores.
Have in mind:Capital One Savor may charge an annual fee, but anyone spending a significant portion of their budget onto have lunchand entertainment will likely get a better value from this card, even with the annual fee. Osavor oneis more suitable forbeginnersand those with smaller budgets.
check theCapital One SavorOne card reviewfor more details.
Application link:Capital One SavorOne Cash Rewards Credit Card
US card Bank Cash+™ Visa Signature®
Welcome bonus:Earn a $200 Reward Bonus after you sign up online and spend $1,000 on qualifying purchases within the first 120 days of account opening.
Rewards:Earn 5% cash back by selecting two of 12 merchant categories each quarter on your first $2,000 combined purchases, 2% on a daily category such as gas stations, grocery stores or restaurants, and 1% anywhere else.
How entertainment is defined:The U.S. Bank offers two entertainment-related categories that earn 5% cash back: movie theaters; and TV, internet and streaming services. This includes popular services like Netflix, Hulu, and Max. You can opt into both entertainment categories each quarter to maximize your cash back if you wish.
Have in mind:This card offers attractive cashback rates for a card without an annual fee. Just don't forget, you must opt in each quarter and select your preferred bonus categories to earn the highest reward rates.
check theU.S. card review Bank Cash + Visa Signaturefor more details.
Consider a flat rate card
Another option for entertainment spending is aflat rate card. There are many on the market frommoney backfortravel rewardsfor those who servesmall business owners.
Frequent travelers can use theCapital One Venture Rewards credit cardto earn 2 miles per dollar on every purchase. Business travelers can experience theCapital One Spark Miles for Businesses, also earning 2 miles per dollar on every purchase. Both only charge a $95 annual fee (waived for the first year for Spark Miles). There are also no annual fee versions of both cards for beginners on a smaller budget.
If cash back is more your style, a card likeCiti® Double Cash Card(verrates and fees) orPursue Unlimited Freedomis also a viable option. Citi Double Cash earns 2% on every purchase (1% when you shop and 1% when you pay your bill), while Chase Freedom Unlimited earns 1.5% back on all categories with no bonus. Both arecards without annuity, and you can combine them with others in your issuer lines to maximize your redemption options and value.
Don't forget the exclusive access perks
Maximizing credit cards involves more than just rewards (although earning rewards is part of that equation).
Somebest travel cardsoffer exclusive perks for entertainment events. Some issuers hold invite-only events that grant you access to purchase tickets that are hard to come by with a certainpremium credit card. In these cases, it might make sense to use a card that doesn't necessarily earn entertainment rewards on those purchases. It all depends on what you find most valuable in each situation.
Related reading:Cards that offer access to VIP events
Keep in mind that some purchases may not be coded under the entertainment category, depending on how and where you make the purchase. For example,disney ticketsit might code as entertainment, travel, or something else entirely, depending on how you get the tickets.
Whether you're a roller coaster aficionado, a fan of stand-up comedy or something in between, it's nice to have a card that helps you earn additional rewards on those purchases and/or provides opportunities for enhanced experiences.
Additional reporting by Ryan Wilcox, Benji Stawski and Mike Cetera.
Editorial disclaimer: The views expressed here are those of the author alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or endorsed by any of these entities.
According to the Capital One website, entertainment purchases include tickets to movie theaters, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, bowling alleys, pool halls, record stores and video rental locations.What is considered an entertainment expense for credit card? ›
According to the Capital One website, entertainment purchases include tickets to movie theaters, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, bowling alleys, pool halls, record stores and video rental locations.What is the smartest way to use a credit card that has rewards? ›
The smartest way to use a credit card that has rewards is to charge everything that you can afford to it and pay it back quickly (by the due date each month). Avoiding interest is key to maximizing the value of a rewards credit card, since credit card interest rates are higher than credit card rewards rates.What credit card points have the highest value? ›
To simplify the process of comparing rewards programs, we analyzed the value of credit card points across the major U.S. credit card issuers. Based on our results, Chase Ultimate Rewards® points are worth the most, offering up to 1.5 cents per point with certain cards in the program.What is the single biggest credit card trap for most people? ›
The minimum payment mindset
Here's how most people get trapped in credit card debt: You use your card for a purchase you can't afford or want to defer payment, and then you make only the minimum payment that month. Soon, you are in the habit of using your card to purchase things beyond your budget.
If there's one card most associated with celebrities, it's the American Express Business Centurion Card, often referred to as the Amex Black Card. It's an invite-only card, and although you don't need to be famous to get it, the spending requirement for an invite is rumored to be at least $250,000 per year.How much can I write off for entertainment? ›
|Type of Expense||Deduction|
|Entertaining clients (concert tickets, golf games, etc.)||0% deductible|
|Business meals with clients||50% deductible|
|Office snacks and meals||50% deductible|
|Company-wide party||100% deductible|
The tax code states that “expenses for recreational, social, or similar activities (including facilities therefor) primarily for the benefit of employees” qualify for the 100 percent deduction. Dinner provided for employees working late is 50% deductible.How much entertainment expenses can I claim? ›
As a small business owner, you may entertain clients or customers. While this is often a business necessity, the costs can really add up. You'll be glad to know that the IRS allows you to take a deduction for 50 percent of your qualifying business meal entertainment expenses.What is the golden rule of credit cards? ›
Only have a credit card if you pay in full each month.
This is the single most important rule of credit cards. Your best financial move is to repay your credit card balance in full each month. Otherwise, you will be subject to high interest charges.
The most important principle for using credit cards is to always pay your bill on time and in full. Following this simple rule can help you avoid interest charges, late fees and poor credit scores. By paying your bill in full, you'll avoid interest and build toward a high credit score.What is the golden rule of credit card use? ›
Paying at least the minimum amount on your credit card each month is a good way to build (or maintain) a good credit score. Paying on time will also help you avoid getting slapped with fees.How much is 50 000 credit card points worth? ›
In most cases, 50,000 Chase points are worth $500 for travel, cash back, or gift cards. The same 50,000 points can be worth $625 with the Chase Sapphire Preferred® Card or Ink Business Preferred and $750 with the premium Chase Sapphire Reserve®.How much is 100k credit card points worth? ›
At a minimum, 100,000 Chase Ultimate Rewards® are worth $1,000 in cash back or gift cards. Several cards offer a travel redemption bonus that can make the balance worth as much as $1,250. There are two Chase business credit cards with $1,000 signup bonuses.Should I have 3 credit cards? ›
It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.Why do millionaires use credit cards? ›
For rich folks, credit cards are a tool to manage their finances and simplify their spending. Credit cards give people a convenient way to spend, and that includes the wealthy. They often use credit cards to make large purchases or to pay for travel and entertainment expenses.How many credit cards do most millionaires have? ›
|Number of credit cards||% of ownership (millionaires)||% of ownership (non-millionaires)|
|4 or more||12%||7%|
This goes without saying, rich people have a huge credit limit and they end up carrying multiple cards as well. As their monthly spending on their credit card is a lot, not only do they end up earning huge reward points but also their bank balance remains untouched so they earn interest on that as well.What card does Kim Kardashian use? ›
Kim Kardashian and Oprah Winfrey, meanwhile, have used the American Express Centurion, which is said to enable cardholders to buy anything they desire, no matter how seemingly inaccessible.Do billionaires use credit cards or debit cards? ›
The wealthiest are known for using the most exclusive credit cards -- luxury credit cards and so-called black credit cards.
What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*.What is the meal expense for 2023? ›
In 2023, the meal per diem is $74 a day for high-cost areas in the continental United States and $64 a day for lower-cost areas.Can you write off entertainment on taxes? ›
With the ratification of the 2018 Tax Cuts and Jobs Act (TCJA), aka the Trump Tax Plan, you can no longer deduct entertainment expenses. The ticket cost is no longer deductible if you like to entertain at sporting events or treat your clients to a Broadway show.What entertainment is not deductible? ›
The following expenses are not deductible:
Sporting event tickets. Transportation to/from a restaurant for client business meals. Club memberships and club-related expenses. Meals during entertainment that are not listed separately on the invoice.
CRA rules on meals and entertainment expenses
According to the Canada Revenue Agency, the maximum you can deduct for food, beverage, and entertainment expenses is 50% percent of the lesser of the following amounts: The amount you paid for the costs, or. A sum that, given the circumstances, is fair.
Claiming coffee as a business expense
The deduction is usually 50% of the cost. Thanks to the Consolidated Appropriations Act of 2021, business meals at a restaurant that were once 50% deductible have been increased to 100% for the years 2021 and 2022.
Meal entertainment valuation methods
The 50:50 split method – the taxable value is 50% of your total expenditure on all meal entertainment for all people (irrespective of whether they're employees, clients or others) during the FBT year.
Your business can generally deduct the cost of business meals at 50% beginning in 2023 or for tax years prior to 2021 if: The business owner or employee is present. The cost of the meal or beverages isn't "lavish or extravagant." The meal is with a business contact (such as a customer, employee, vendor, or consultant).What food expenses are tax-deductible? ›
For 2021 and 2022 only, businesses can generally deduct the full cost of business-related food and beverages purchased from a restaurant. Otherwise, the limit is usually 50% of the cost of the meal.Is gas tax-deductible? ›
If you're claiming actual expenses, things like gas, oil, repairs, insurance, registration fees, lease payments, depreciation, bridge and tunnel tolls, and parking can all be deducted." Just make sure to keep a detailed log and all receipts, he advises, and keep track of your yearly mileage and then deduct the ...
- Mortgage Payments. ...
- Small Indulgences. ...
- Cash Advances. ...
- Household Bills. ...
- Medical Bills. ...
- College Tuition. ...
- Your Taxes. ...
Here's how the rule works: You can be approved for up to two new credit cards every rolling two-month period. You can be approved for up to three new credit cards every rolling 12-month period. You can be approved for up to four new credit cards every rolling 24-month period.
There is no universal number of credit cards that is “too many.” Your credit score won't tank once you hit a certain number. In reality, the point of “too many” credit cards is when you're losing money on annual fees or having trouble keeping up with bills — and that varies from person to person.What happens when you use 90% of your credit card? ›
At the opposite end of the spectrum, a credit utilization ratio of 80 or 90 percent or more will have a highly negative impact on your credit score. This is because ratios that high indicate that you are approaching maxed-out status, and this correlates with a high likelihood of default.What is the 15 3 rule for credit? ›
The 15/3 credit card payment rule is a strategy that involves making two payments each month to your credit card company. You make one payment 15 days before your statement is due and another payment three days before the due date.
Experts generally recommend maintaining a credit utilization rate below 30%, with some suggesting that you should aim for a single-digit utilization rate (under 10%) to get the best credit score.What is the 24 card rule? ›
The Chase 5/24 rule is an important consideration for anyone applying for a Chase credit card. Chase will likely deny your credit card application if you've opened five or more new cards in the past 24 months. This rule applies to all Chase credit cards, including co-branded and small business cards.What are at least 3 ways you should use a credit card to maximize your credit score? ›
- Pay on time, every time (35% of your FICO score) ...
- Keep your utilization low (30% of your FICO score) ...
- Limit new credit applications (15% of your FICO score) ...
- Use your card regularly. ...
- Increase your credit limit.
The 5/24 rule states that if you have been approved five or more credit cards in the last 24 months, you will automatically be denied for any Chase credit card products. This is to prevent consumers from applying to credit cards solely for the welcome bonus and closing the account before the annual fee comes due.Is 1 cent per point good? ›
Worst redemption option
1 cent for eligible travel and dining. Points are worth less than 1 cent when redeemed for cash or gift cards. 1.25 cents for travel. 1 cent for cash and gift cards, though the program agreement notes that there may be redemption options with lower values.
Generally, travel miles and points are worth 1 cent each.How much is 150k points worth? ›
|Number of American Express Points||Average Value|
As a general guide, the point value can range from 0.5 cents per point to more than 2 cents per point, depending on how you redeem them. Therefore, 1 million AMEX points could be worth anywhere from $5,000 to $20,000 or more, depending on the redemption method.How much is 80 000 Capital One points worth? ›
80,000 Capital One miles are worth an average of $560, depending on how you redeem them. Capital One miles are worth the most when redeemed for travel, but you can also redeem for a statement credit, a check or gift cards, among other options.How many dollars is 80000 credit card points? ›
This is already one of the top travel credit cards, and the increased welcome offer makes it even more enticing. After all, 80,000 points are worth up to $1,000 on travel when you redeem through Chase Ultimate Rewards®, and potentially more when redeemed through one of Chase's transfer partners.Does cancelling a card hurt credit? ›
Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.Is 20 credit cards too many? ›
There's no such thing as a bad number of credit cards to have, but having more cards than you can successfully manage may do more harm than good. On the positive side, having different cards can prevent you from overspending on a single card—and help you save money, earn rewards, and lower your credit utilization.Does it hurt your credit to have too many cards? ›
Having too many open credit lines, even if you're not using them, can hurt your credit score by making you look more risky to lenders. Having multiple active accounts also makes it more challenging to control spending and keep track of payment due dates.Do millionaires have lots of credit cards? ›
Millionaires are more likely to have multiple credit cards compared to the average American. Seventy percent of Americans with a net worth over $1 million have two or more credit cards, compared to 41% of Americans with a net worth under $1 million.Do most millionaires have credit cards? ›
Key points. 70% of millionaires carry two or more credit cards, which is more than recommended. Millionaires trust the same credit card issuers as regular Americans.
Citi Private Bank is the private banking department of Citibank. Their services are reserved for worldly and wealthy individuals as well as their families. While eligible clients can get deposit accounts and retirement accounts as you'd find at any other bank, there are also many specialized products and services.Do rich people use Amex cards? ›
"And merchants are willing to pay that premium because American Express is bringing them the most affluent, biggest spenders." Because of its reliance on discount fees, big spenders are AmEx's most important asset.What is the #1 rule of credit cards? ›
Rule #1: Always pay your bill on time (and in full) The most important principle for using credit cards is to always pay your bill on time and in full. Following this simple rule can help you avoid interest charges, late fees and poor credit scores.What is the rarest credit card in the world? ›
The rarest credit card in the world is likely the Centurion® Card from American Express, also known as the “Black Card.” This card is available by invitation only, and you will reportedly need to spend at least $250,000 per year on other Amex credit cards and have an income of $1 million+ to get it.Does a black credit card mean you're rich? ›
Most of the time when people refer to a black card, what they mean is the luxe American Express Centurion card. Due to the card's exclusivity, it's become a symbol of wealth and the ability to buy just about anything your affluent heart desires.Who has a black card? ›
The American Express Centurion Card, colloquially known as the Black Card, is a charge card issued by American Express. It is reserved for the company's wealthiest clients who meet certain net worth, credit quality, and spending requirements on its gateway card, the Platinum Card.What is the black credit card with no limit? ›
There is no spending limit with the Amex Black Card. However, balances must be paid off in full every month.Who offers a black card? ›
The most exclusive credit card is the American Express Centurion Card, also known as the Amex Black Card. It is reportedly reserved for people who spend at least $100,000 per year, and an invitation is needed to apply.Where do billionaires keep cash? ›
High net worth investors typically keep millions of dollars or even tens of millions in cash in their bank accounts to cover bills and unexpected expenses. Their balances are often way above the $250,000 FDIC insured limit.What banks do millionaires use in Canada? ›
According to Wikipedia, the two private banks in Canada with the most assets under management are RBC Wealth Management and BMO Wealth Management. So since BMO and RBC are so popular for private banking, you could say they are the best private bank in Canada.
Many millionaires keep a lot of their money in cash or highly liquid cash equivalents. They establish an emergency account before ever starting to invest. Millionaires bank differently than the rest of us. Any bank accounts they have are handled by a private banker who probably also manages their wealth.What is the highest credit card color? ›
The highest credit card color is black, in large part because of the ultra-exclusive Centurion® Card from American Express, which is also known as the “Black Card” due to its color.What income do you need for an Amex? ›
|Credit Card||Annual Income for Salaried||Annual Income for Self-Employed|
|American Express® Gold Card||Rs. 6 Lakhs and above||Rs. 6 Lakhs and above|
|American Express® Platinum Travel Credit Card||Rs. 6 Lakhs and above||Rs. 6 Lakhs and above|
Salary Needed for Amex Platinum Credit Card
If you make nearly $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.