Pretty much the only good thing about credit cards is the reward programs. Some give cash back and some give miles. Here's a list of what you need to know about these reward programs from those evil companies.
If you don't spend, you won't get rewards. Just make sure you aren't hitting the reward limit where cards will sometimes give out less rewards after you spend a certain amount.
Different cards are good for different categories. Use that to your advantage by having a few cards and using the right card that will maximize your rewards.
If you are a no hassle type of guy, consider getting a cash back reward card. These days, you can get as good as 2% cash back for them.
The miles reward cards give me one point for every mile that I travel. Now that's mega rewards for someone like me who travel frequently. However, the card has an annual fee so if you don't fly a lot, it's not for you.
Store branded credit cards may seem cool at first but just make sure that the company is solid or else your account will be closed if the company goes under.
Redeeming for merchandise usually means that you are losing out. It may seem cool to get a free TV from your rewards, but you will actually get more money back if you just took the cash.
Points can expire for all sorts of reasons. So, look into them and make sure you redeem it for something before you lose it and don't even know.
Too many applications and your credit score is lowered. So make sure you really like the rewards before you apply for a card because of it.
Don't be tempted to spend even if there's a 5% cash back reward. Remember that you are still paying 95% and if you don't need it, don't get it.
Even though the rewards might be small, it all adds up so don't ignore the small chunk of change and check out those reward programs. - 29866
If you don't spend, you won't get rewards. Just make sure you aren't hitting the reward limit where cards will sometimes give out less rewards after you spend a certain amount.
Different cards are good for different categories. Use that to your advantage by having a few cards and using the right card that will maximize your rewards.
If you are a no hassle type of guy, consider getting a cash back reward card. These days, you can get as good as 2% cash back for them.
The miles reward cards give me one point for every mile that I travel. Now that's mega rewards for someone like me who travel frequently. However, the card has an annual fee so if you don't fly a lot, it's not for you.
Store branded credit cards may seem cool at first but just make sure that the company is solid or else your account will be closed if the company goes under.
Redeeming for merchandise usually means that you are losing out. It may seem cool to get a free TV from your rewards, but you will actually get more money back if you just took the cash.
Points can expire for all sorts of reasons. So, look into them and make sure you redeem it for something before you lose it and don't even know.
Too many applications and your credit score is lowered. So make sure you really like the rewards before you apply for a card because of it.
Don't be tempted to spend even if there's a 5% cash back reward. Remember that you are still paying 95% and if you don't need it, don't get it.
Even though the rewards might be small, it all adds up so don't ignore the small chunk of change and check out those reward programs. - 29866
About the Author:
These Hotels.com coupons will give you so much savings you will be laughing the whole vacation.
