Are Rewards Credit Cards For You?
There are tons of rewards cards available today. While rewards credit cards can be rewarding, the benefit that you can get out of these credit cards really depends on how you use them.
The consumer reports magazine offered some tips on how to make rewards credit cards most rewarding for you -
1 - Before choosing a credit card, estimate your spending and translate that into how much cash back or points you’ll earn through the credit card program.
2 - Rewards credit cards often charge relatively high interest rates. So if you are someone who carries a balance, rewards cards may not be the right choice for you. You may be better off with a low balance transfer card or low apr credit card.
3 - If you use an airline mileage card, then use the miles. Cashing them in has become more difficult as airlines have cut back on flights.
We hope this makes for some worthwhile reading and helps you make a slightly more informed choice next time you want to select a rewards credit card.
