Points. Rebates. Cash back. Promotions. Everyone knows credit cards have great rewards attached, but few people ever look for cards based on finding rewards that fit their needs. With the array of choices, there are now credit card rewards to fit all lifestyles and spending habits. So are you taking advantage of your options?
Too often, credit card consumers think there has to be a ‘catch’ associated with rewards cards, but this is hardly the case. Credit card companies are aware of the numerous choices consumers have, so there are plenty of reward-based cards available without high APRs or lots of fees. Rewards don’t mean that you have to sacrifice on other features. In many cases, rewards really are just bonuses.
When looking for a reward card that suits your needs, think about the different sorts of benefits available based on your spending habits. Consider where and how you shop. If you customize your rewards to your needs, the benefits can make a substantial difference in what you spend and how much you save.
Some rewards cards are designed to help with the practical expenditures in life. For instance, a gas based rewards card is great if you’re a commuter. The monthly rebates you would get for gas could save money which you can then spend on the things you want. There are also company specific cards, so if you by your groceries from the same place each time, you can earn both cash back and rebates for that store. With easy and practical rewards like these, there’s no reason not to shop around and find a credit card that caters to your spending habits.
If you’re not necessarily looking for a card with practical benefits, keep in mind that reward cards also allow you to enjoy leisure, entertainment and luxury. You can help to fund your next family vacation or enjoy free movies every month. Some cards offer a catalog of point-based rewards you might not even think of, some of which include everything from skydiving trips, to name brand jewelry and even lasik eye surgery! Concert and sport tickets along with vacation cruises are among some of the more common offerings.
When people think of rewards, air miles cards are some of the first that come to mind. With air miles credit cards, you can earn miles for each dollar you spend. If you enjoy travel or need to fly for business, air mile cards are a great reward opportunity. Some cards let you choose from up to 250 major airline carriers, whereas others work through a specific airline. Many don’t have pre-set spending limits, which means you won’t have to alter your spending habits in order to earn free flights. Since air miles credit cards are so common, many companies have tried to boost rewards by offering travel perks such as class upgrades, double rewards for select carriers, and discounted rental cards and hotels. Always pay attention to the fine print, and be aware that some air miles cards can have expiration dates and high annual fees.
Credit card companies realize that not everyone likes to be told how to spend their money, so many major lenders offer cash back, a reward that truly suits everyone’s needs. Most often, cash back credit cards give you a percentage-based return on the money you spend. The programs are varied. Some of the more generous cash back credit cards offer a higher percent if you receive your rewards annually. Others apply a slightly lower percentage base to your monthly balance. If you’re not sure what sorts of rewards would best suit your spending habits, cash back credit cards are a good option.
hen looking at all of the rewards credit card companies have to offer, consider what kind of benefits suit your spending habits and try to find a card that will allow you to fully take advantage of your reward potential. With so many different types of rewards available, just a little bit of research will allow you to make the most of your credit card habits.
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