Credit cards with rewards can be used in many different ways. The choices can be nice and are very different. There's probably something for almost everyone, and some of the deals are pretty good. Here are some things you should look for when you apply for a credit card with rewards to make sure you get a good one.
Find a rewards card that you'll like.
You can get the most out of your rewards credit card by looking at what you spend the most money on each month. For example, if you spend most of your money each month on air travel, you should get an air miles card. Or, you might want a gas card if you travel a lot and spend a lot on gas every month. By putting your attention on your biggest expenses, you can save the most money on those things with this type of rewards credit card.
Check the Rate of Reward
All rewards credit cards give you a reward worth a certain percentage of what you buy. How much of a difference is there, though? Some cards only give you 1% back on your purchases, while others can give you up to 6% back on some purchases. Most cards, though, have a two-tiered system where you get one percentage for things related to the card and a lower percentage (1 to 3 percent) for things like groceries, prescriptions, and gas.
Get 0% APR interest on the things you buy.
Almost every credit card has an interest rate, but why would you choose one that is higher than 0%? Of course, this only applies to the introductory offer, but if you look carefully, it can last up to 15 months. This gives you a lot of time to save money on interest and find some great deals. The interest rate is, of course, only used for balances that are carried over from one month to the next. This means that if you pay your bill in full and on time every month, you will never have to pay interest as long as you have the card.
Look for options to transfer your balance
You can move the balances from your other credit cards to this new rewards credit card thanks to this great feature. If you are paying interest on the other card, this is a great way to save money each month. Usually, you are given the length of the regular introductory offer to have 0% APR interest on balance transfer amounts, but you will want to check on this. Also, check to see if there are any fees for balance transfers when you do this. For many cards, this service is free.
By shopping around and comparing rewards credit cards, you'll get a good idea of what's happening in the credit card market. After doing some comparison shopping, you should be able to find the best rewards credit card for you, and soon those rewards will start to come in.
