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Choosing a Rewards Credit Card

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Authored by Lori Godin in Credit Card
Published on 12-31-2008

There are many types of rewards credit cards available to consumers. These cards range from versatile programs that allow the card holder to gain cash back rewards, merchandise and even retail gift certificates to their favorite stores through the use of points. Other types of rewards cards allow the card holder to gain cash-back rewards for each dollar that is spent on the card. Here are the basic aspects to keep in mind when choosing a rewards card.

Various rewards cards are available that offer introductory bonus offers of up to ten thousand rewards points. Taking advantage of these introductory offers could mean upwards of one hundred dollars in rewards cards for your favorite stores or cash back towards the first months payment. The funds can be used to pay the annual fee of the credit card.

The internet is a valuable tool which can be used to research rewards card offers, compare interest rates and annual fees and determine which rewards program offers the best program and allows the user to collect the most rewards.

How much does the credit card cost? The majority of rewards credit cards come with a high annual fee as an enrollment into the program. There are many rewards credit cards available without the high annual fees, comparable to many of the top-notch rewards charging upwards of $100.00 per year. When consider a rewards credit card, determine the annual fee compared to the intended use of the credit card and how many rewards will come from this use.

Do the rewards expire? It is important to choose a rewards card that comes without an expiration date on the points received. The consumer should be able to collect rewards for a long period of time for those larger rewards without repercussions.

Are limits imposed with how many rewards can be earned on a monthly basis, on a yearly basis? Depending on your credit card use, the potential for earning rewards is limitless. Be sure to enroll in a rewards program that offers the customer unlimited rewards to make the most of your credit card and spending habits.

Are spending limits imposed before reward points can be redeemed for travel, merchandise and gift cards? When spending limits are imposed, it may cause the card to seem risky as the rewards can be lost even before they are finished accumulating!

Rewards cards are a great way to see benefits from your daily spending habits. From fuel to food, the purchases made with the card can earn you enough points to fund your next vacation!

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