Credit Card Rewards – Give it a Close Consideration
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Travel with Credit Cards » Credit Card Rewards – Give it a Close Consideration

Credit Card Rewards – Give it a Close Consideration


Updated: December 26, 2012

By
Add to Favorites:
Credit card rewards are beneficial to us in many ways because of its many free incentives every time we swipe our card. However, to choose the card with the right reward program that suits your needs and to make the most of it can be a challenging job. Every major credit card company offers these reward schemes in one way or the other. We as consumers should make a prudent choice, keeping in mind some of these important factors: Choose a reward plan that makes sense: First and important of all is choosing the right card. There are reward options that range from money back, points for grocery shopping and redeemable points in departmental stores to airline miles. Choose the card whose reward schemes make the most sense to you. If you are not a frequent flyer or a traveler, the card which gives you airline miles and redeemable accommodation points will not make sense. Instead, choosing the one that gives rewards in form of cash back or points redeemable at a departmental store can work better for you. The key here is, analyzing what you spend on the most and getting rewards that are redeemable for that particular spending. Be aware of the hidden conditions: It is very crucial to read all the terms and conditions before you splurge onto spending for rewards. There may be some hidden conditions and terms that apply for the redeemable rewards. In some cases you will need to spend a minimum amount specified, to start getting your reward points. If that minimum amount set is high, then you may not be able to make complete use of your reward scheme. Also, there might be a limit set on the amount you can receive as rewards, every billing cycle. For example, if the limit on which rewards apply is set for $1000 every month, then spending more than that every month will not get you anything. Check for the time limits: In most cases, the credit card company will have clause stating the time limit within which you can redeem the reward money. If you are not able to redeem within that time frame, your reward money expires and you will lose that benefit. This commonly happens when you have to redeem your air miles or a hotel stay within a timeframe. If you do not have any travel plans within that time frame, the rewards don`t make any sense. Be cautious of the risk of debt: Some reward plans can be very lucrative and increase your credit card usage considerably. At times like these, you might easily lose track of the money you spend and run into the risk of being in debt. This happens when you get reward points or cash back from your grocery stores or departmental stores. Grocery and departmental store shopping are easy ways to overspend and it is difficult to keep track of such expenses. Be cautious and spend only what you can pay back in time so that it doesn`t affect your credit score. Credit card reward plans exist in order to give you some benefits for all the money you spend. With some care and caution, you can make the most of it and enjoy the experience of shopping at the same time.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Other Travel with Credit Cards Research:

Related Research:

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When Amazon.com was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading