How to Choose a Rewards Credit Card?

You make purchases and spend your money daily from one day to the next. But how good it will be if you are rewarded for the money you spend.

Moon Twp, PA (prHWY.com) January 21, 2012 - Rewards Credit Cards give you free stuff for the usage of the card. This credit card is preferred by many consumers providing cash bonuses, air miles, gasoline rebates, gift cards and redeemable points each time you use it. But not all rewards cards are created equally. Here are few tips which will help you to choose the best reward credit card.

Consider your personal needs and spending habits before choosing a reward credit card. The card will prove beneficial if you actually use the rewards. Rewards come in various shapes and sizes. Some offer cash back or points that you can redeem for air travel, merchandise and gift cards. A travel reward card is useless, if you travel rarely since you won't be able to maximize your bonuses and earn extra points. Cards reward points is useful at certain vendors, so make sure you shop at those vendors before choosing your card. Before applying for such cards, find out how the points are redeemed, as many cards give rewards in the form of checks. So, go for the cash back reward card, as cash is the most universal reward.
All credit cards charges fees and interest rates. Consider the interest rate, annual fees or other associated cost before applying for a reward credit card. Annual fees are common charges with such cards. Understand the fee structure and make sure the costs don't outweigh the rewards you receive. Avoid card with high interest rates and cost more than they benefit.

Choose a reward card that provides you with unlimited amount of rewards that never expire. There are some credit cards which might limit the rewards, even if you continue making purchases. For instance, you may only be able to earn a certain amount of cash or rewards in a year. And many cards expires your rewards if you don't use them within a certain period of time. Don't choose a reward card with an unreasonable expiration period. Finally, understand and know the reward program in details, how rewards are accumulated and any limitations that apply to redemption of the rewards.

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