How to decide upon a rewards credit card?
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Credit Card Applications » Research » Guides » Travel with Credit Cards » How to decide upon a rewards credit card?

How to decide upon a rewards credit card?


Updated: December 26, 2012

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The main thing that attracts a person to a credit card is the feature that is offered. There are several things that you can get attracted to. The first and foremost thing is the rewards that are offered with the card. There will be account-opening rewards when you start off with the account. There will also be recurring rewards when you make transactions with the card. However before you blindly settle for any card, make sure it fits your needs. A card needs to suit your lifestyle. Even the reward schemes need to be a perfect fit. The credit card industry is very competitive. You need to make the right choice at the beginning without being brainwashed into taking something that you do not need. The best way to learn is to look at the internet or talk to family or friends who already own such cards. Frequent flyer reward cards give you points, which can be redeemed for air miles. These cards are ideal for people who travel a lot. You can also use these points for other transport such as car rentals or even sea cruises. If you are a businessman or an avid traveler who takes off every year, this option will be ideal. If you get a reward credit card with a cash back feature, you can earn while you spend. The cash rewards can be up to five percent of your expenditure on the card. By paying off all the dues within the grace period, this will accumulate to a huge amount by the end of the year. There are also gas miles rewards credit cards. These cards will give you points every time you fill up at a certain gas station. Do remember that you need to return to the same gas company every time to get the points. Each card issuer will be related to a specific gas company. This sort of deal is ideal for car rental companies that have a huge fleet of cars filling up every day. Even if you drive to work every day, this could be a substantial gain. You can also gain substantial discounts with certain cards. These discounts could be for gas, merchandise, hotels, restaurants or anything that you use your card for. There are also cards that give out gym memberships to people who reach a certain expenditure limit in the first year of activation! When you buy a card, remember to tailor it to your lifestyle. There is no point in getting a card with great air miles rewards if you are never going to travel given your commitments with your full time job or business. But if you are one who is not going to use your card often, it is better to deactivate all the rewards schemes. Having a reward scheme is mostly going to cost you a certain yearly fee. If you do not have any rewards schemes affiliated to your card, you can get a no annual fee credit card.

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