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When Considering Credit Card Benefits, Are Reward Cards Really A Bargain?

Aug 17, 2007
Most people get credit card offers in the mail all the time. Each card offers you something a little different in order to get your business. Now credit card companies are using reward systems to get people to sign up for their card. For the consumer this is great. You can now get rewarded just for using your credit card that you were going to use anyway. There are a few things to look for when you choose your card.

First you will want to know which card is offering what. If you travel you will want to get a card that is widely accepted, if you do not travel you may not care as much. Each credit card will offer you something different to try and get your business. They will always be trying to give you a better deal so you will choose them.

Next you will want to know what kind of reward system your credit card uses. If you travel a lot you may want to choose a card that rewards you with frequent flyer miles. This is a good way to get some free miles just from using your card on a regular basis.

You will want to see how many miles you have to have before you can cash them in. If you have to have a huge number of miles if may be very hard to reach the amount. You will also want to know how much money you have to spend to earn a mile. Another thing you will want to know is when and where your miles can be redeemed. You will want some flexibility with when you can take your vacation, and where you get to go.

Other rewards may be in the form of points. You may be rewarded points for the dollars you spend on your credit card. Again you will want to know how many points you get for every dollar you spend. You may also want to know what you can use your points for. Some cards are more flexible with what your points can be used on. Some cards let you convert the points into dollars that can be subtracted form your balance. Some have some great things you can buy with your points.

Cash back is another reward that is very popular. You can earn a certain percentage cash back on all you purchases. This is a great way to earn a little cash. You will want to know what percentage you are earning, and when you can get your cash that you've earned. Some companies will only let you use this cash at certain retailers, while others will let you use it towards your balance, or use it for gifts they have available, while others may send you an actual check for the amount. You will want to know how much flexibility your card offers before you choose.

Interest rate an annual fees are another thing you will want to check into. Some of these cards will look great, but will charge you more in fees to make up for your rewards. If you do not read carefully you may not be getting to great of a reward after you pay extra in interest rates and fees. Make sure you look around and find the card that will work best for you.
About the Author
Gregg Hall is an author living in Navarre Florida. Find more about this as well as credit card services at http://www.creditcardservicesonline.com
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