Making the most of rewards programs
Tuesday September 23, 2008
If you frequently use your credit card for purchases, it might be worthwhile in getting a credit card that has a beneficial rewards program. Reward programs are designed to encourage cardholders to use their credit cards on a regular basis so they earn rewards points that they can cash in.
If you do use your credit card on a frequent basis, but you're unsure about what type of credit card rewards program will suit you, consider the following:
- Some credit card companies charge you extra to participate in reward programs.
- Low interest credit card rates. Remember that by paying off your credit card promptly you can avoid being charged interest.
- Annual fees. The lower the annual fees are, the more money you'll be able to save.
Avoid:
- Low reward limits.
- Reward points that don't rollover.
- Restriction dates of cashing in your reward points.
If you're interested in a rewards program, compare credit cards now and look for a rewards program that suits you best.
