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How Credit Card Rewards Work in Portugal

By PointsExplainedLast reviewed

Decide how you will repay

If you will pay the full balance by the payment deadline every month, rewards and fixed fees are what matter. If you might carry a balance, compare interest rates (TAEG) first; our guide at /pt/guides/credit-card-interest-taeg-and-minimum-payments-in-portugal explains how.

Add up the fixed costs

Note the annual fee and any other charges the card lists, remembering that stamp duty can apply on top of the annual fee.

Value the reward in euros

For cash back use the euro amount. For points or miles, divide the cash you would save (after any fees you still pay) by the points or miles used.

Read the programme terms

Check expiry rules, what you can redeem for, whether the reward depends on your repayment option, and how the operator can change the rules.

Where this comes from

Sources

The documents this guide relies on. If one has changed since we read it, the document is right and this guide is out of date.

  1. Glossário de Cartões — Caixa Geral de Depósitos

    Definition of a loyalty programme (points, miles or cash back from purchases and credit cash advances; cash back credited to the account).

    cgd.pt · Accessed
  2. TAP Credit Cards — TAP Miles&Go, TAP Air Portugal

    TAP lists TAP credit cards that earn miles on purchases; TAP acts as a credit intermediary on an accessory, non-exclusive basis, registered with Banco de Portugal.

    flytap.com · Accessed
  3. Decreto-Lei n.º 133/2009 (contratos de crédito aos consumidores), versão consolidada — Diário da República

    Art. 4(1)(f): definition of a credit intermediary as a person not acting as the lender who presents or proposes credit contracts.

    diariodarepublica.pt · Accessed
  4. Universo — página inicial (Cartão Universo+) — Universo, IME, S.A.

    Universo+ describes a discount credited to Cartão Continente when paying in the 'Fim do Mês' option.

    universo.pt · Accessed
  5. TAP Miles&Go Terms and Conditions — TAP Air Portugal

    No fixed pricing for award tickets (real-time prices); fees and credit card fees borne by the member; miles cannot be redeemed for cash; miles valid 3 years, some Bonus Miles 1 year; TAP may change the terms, binding when published; Portuguese version binding.

    flytap.com · Accessed
  6. Cartão de crédito: como usar (bem) este meio de pagamento — Santander Portugal (Salto), atualizado a 9 março 2026

    List of credit card costs (annual fee, interest, cash withdrawal commissions, stamp duty, fuel, inactivity and international processing charges outside the EEA; not all cards have them); paying 100% by the deadline avoids interest, partial payment incurs interest.

    santander.pt · Accessed
  7. Código do Imposto do Selo — Anexo II (Tabela Geral), versão consolidada — Diário da República

    Stamp duty table items 17.3.1 (4% on interest on loans and credit accounts) and 17.3.4 (4% on other financial-service commissions).

    diariodarepublica.pt · Accessed
  8. Cartão de crédito: como escolher e como usar em segurança — Caixa Geral de Depósitos (Saldo Positivo), 07-11-2025

    Warning that credit cash withdrawals carry high additional costs and should be used only in emergencies.

    cgd.pt · Accessed
Questions

About this guide

Do cash advances earn rewards?

Some programmes count them: CGD's glossary includes credit cash advances in its definition of a loyalty programme. Check your card's terms, and weigh CGD's warning that cash advances carry high additional costs.

Can I turn TAP miles into cash?

No. TAP's Miles&Go terms state that miles cannot be redeemed for cash.
Keep reading

Choosing Your First Credit Card in Portugal

Your Rights as a Credit Card Holder in Portugal

Credit Card Fees in Portugal and How to Avoid Them