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| Rewards Credit Cards: Shopping for Fun and Profit |
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| Written by Michelle Lefeaux |
| Saturday, 06 September 2008 07:10 |
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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. In order to take advantage of a credit card that offers rewards there are several things that you should keep in mind: * Do you pay the entire balance on your credit card every month? If you don't, then a reward card might not be right for you. If you maintain a balance on your credit card the interest that you pay each month may exceed the value of any rewards you might accrue. You should either get into the habit of paying the entire balance every month, or look instead for a low interest credit card to save money. * Make sure you know the currency. In this case the currency that you're dealing in is mileage points or points awarded for each dollar of credit card purchases. The number of points required for a reward vary from card to card, so make sure you shop for the card that will get you to the reward that you want the fastest. * 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. * Know which purchases give you the biggest reward for the buck. Some purchases will net you more points than others, and some purchases might not net you any points at all. Many airline rewards cards offer point bonuses for purchases of air travel. Some American Express cards offer double points for purchases of gas and groceries. Make sure you understand the credit card agreement and pick one that will maximize your receipt of points given your spending habits. * 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: Credit card shopping on-line is the simplest 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. Kindly provided by MoneyHunter.org You are welcome to use this article on your own website, if you include the link just before this text. |
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