Credit Cards
Your points, on your terms
Take a statement credit, move cash to a Summit account, book a trip, or pick a gift card. There is no minimum to redeem and points never expire while your account is open.
Four ways to cash in
All four are available in online banking and in the app, any day of the week.
Statement credit
Apply your points directly against the card balance. The credit appears within one business day and reduces what you owe.
Deposit to a Summit account
Send the cash to any Summit checking or savings account you own. Deposits settle the same business day if requested before 5 p.m. Eastern.
Travel
Book flights, hotels, and rental cars through the Summit travel portal at one cent per point, with no blackout dates.
Gift cards
More than 90 retailers and restaurants, delivered by email in minutes. Selected cards carry a bonus above the standard rate.
What a point is worth
The value is the same across most options, so pick the one that suits you rather than the one that pays best.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Redeeming takes about two minutes
Everything happens inside online banking or the Summit app.
Open your rewards balance
Sign in, choose the card, and select Rewards. Your available points and their cash value are shown at the top.
Pick how you want the value
Choose statement credit, deposit, travel, gift card, or donation, then enter the number of points you want to use. Partial redemptions are fine.
Confirm and watch it land
You get a confirmation on screen and by email. Deposits and statement credits post within one business day; gift cards arrive in minutes.
Common questions
Do points ever expire?
Not while the account is open and in good standing. There is no annual sweep and no use-it-or-lose-it deadline, so you can save toward something larger.
What happens to my points if I close the card?
Redeem before you close it. Points are forfeited when the account closes, and that includes closures we initiate for non-payment. Ask us to redeem your balance first and we will.
Can I combine points from two Summit cards?
Yes, if both accounts are in your name. Pool them in online banking and redeem the combined balance in one transaction.
Does a statement credit count as my monthly payment?
No. It reduces your balance but does not satisfy the minimum payment due, so make your regular payment as well or the account will report late.
Are redeemed rewards taxable?
Rewards earned by spending are generally treated as a rebate rather than income, so no tax form is issued. Sign-up bonuses awarded without a spending requirement can be treated differently, and we would ask your tax advisor about those.
What if I return something I earned points on?
The points come back out at the rate they were earned. If your balance has already been spent, the reversal leaves a negative balance that your next earnings cover.
Points sitting still earn nothing
Sign in to see your balance, or open a rewards card and start building one.