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How to Choose a Reward Credit Card

By Edited Nov 13, 2013 0 0

It would seem that everyone is really focusing on making money out of dry stone these days. This is nothing more than a natural result of the financial depths America’s going through since the beginning of the financial crisis. One particular option a lot of people have started thinking about is using a reward credit card to get a few of the extra perks they have had to cut out of late.

Rewards credit cards are genuine sources of rewards in terms of free points which enable free stays at hotels or at great discounts, car rentals, discounted DVD’s or even free flights. Pretty much anything under the sun can become subject to some great discounts on the basis on owning a reward credit card and using it regularly. And due to the fact that credit cards are much safer to use when going shopping, a lot of U.S. citizens have started to use them more often and thus profit from the wonderful advantages that these cards can offer.

Credit card companies are struggling to create the most attractive offers on the crowded market of credit cards; this is great news for consumers who have tons of options to choose from. For instance, we have reward credit cards that focus on offering points which can be used for free car rentals. Rental car reward cards are the main option here; however, the amount of time you will have to spend using your credit card can vary depending on the type of buyer you are. Accordingly, should you decide to do all your shopping using this particular credit card, you will lay your hands on those free car rental programs in a few months.

If, on the other hand, you are more interested in making the most out of your vacations, you can save a little money by using a reward credit card program that specializes in free or significantly discounted stays at hotels.  

You can also find great reward credit card programs that focus on offering you great discounts on CD or DVD purchases or other interesting products. You need to study the wide range of options that lie in front of you and make your choice. However, you need to consider the fact that these credit cards need to be treated with a lot of attention and consideration in regards to their monthly balances. Should you fail to pay the total balance each statement, you risk adding very high interest of up to 16.9 percent on the remaining balance.   

Another viable option that is worth your attention is cash back cards. These cards work in a very special way; they give you refunds of up to 5 percent of the cost of your purchases (this is the ideal card you should choose).  There are other similar cards that pay you back between 0.5 and 1 percent. 

So whether you choose to earn points and buy gas at a discount price, or plan to get some of your intensive shopping cash back, make sure you analyze the point accumulation system and its limitations regarding certain items that you buy. The rest is easy!

The truth of it is that you need to pick the right card for you. Forbes.com has a good discussion of some of the better options currently on the market which may help you to decide for yourself.


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