Credit Card Shopping for Fun and Profit: Rewards Cards
by: MichelleLefeaux |
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Credit card rewards have been increasing and morphing in hundreds of different directions ever since the advent of the Cash Back Credit Card from Discover. Whether it is air travel you are after or cash back on purchases, exotic vacations or cheap theater tickets, there is a reward credit card that can help you get what you want faster.
Here are a few tips to keep in mind when shopping for the right rewards credit card for you:
* Don't keep a balance on your credit card. If you do, you'll end up paying more in interest to the credit card company than any reward might be worth. Get in the habit of paying your bill off completely and on time every month - or else shop for a low interest credit card instead of a rewards card.
* Check the points. Know how much you need for a card reward before you commit on the card. For example the number of points needed for a round trip coach ticket varies across different credit cards. Make sure that you get the best deal that you can find.
* Check the expiration date. More and more airlines are offering points that do not expire. Credit card vendors, however, can have a use-it or lose-it policy. Depending on your spending habits it may take you a long time to qualify for the awards that you are interested in (whether they're airline tickets or not) so look for cards that offer points that don't expire.
* Make sure you know which purchases optimize your points. Cards vary on the types of purchases that can lead to award points. Some American Express cards offer double points on purchases of groceries and gasoline. Read the fine print in your agreement and make sure you understand how to maximize your points - you could reel in receipt of a reward by months.
* Pay your bills - with your rewards credit card. This is one fast way to acquire points fast. Many household bills can be paid with your credit card, and you can receive points back. Gas, heating oil, cable, groceries - the list goes on, but you get the idea. See how many of your household bills you can pay with your credit card. You can always immediately write a check for the same amount and mail it to your credit card company to cover the bill.
* Make sure you get a good sign-up bonus. Most rewards credit cards offer bonus points just for signing up and getting accepted. Usually the points are available after you make any purchase with the new card. Make sure you choose a rewards card that offers the most up-front points - you can often get close you your first reward just in bonus points!
I have a big family - grocery bills alone can amount to $200 per week, and I pay for everything with a rewards card. Using the above techniques I have been able to cash in on free round trip airfare in as little as two or three months. That's a huge savings! It has allowed me to take trips, visit friends and go to events that I probably wouldn't have gone to if I had to purchase airfare, and that fact is more valuable than the cash savings! Try it - it'll work for you too.
About the Author
Shopping for credit cards on-line is the easiest and most comfortable way to assure that you get the right credit cards. Please browse our site to shop for the best Rewards Credit Card for you.
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