How to select the best credit card with reward... - Cash Back Rewards Questions


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most 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. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Cash Back Rewards » How to select the best credit card with reward offers?

How to select the best credit card with reward offers?

Answered on | Updated on January 11th, 2011
The content is accurate at the time of publication and is subject to change.

When you are out shopping for a credit card, you need to be aware of all the rewards that are on offer by the various banks. The rewards are not something that will add to your immediate financial needs, but it will give you a lot of bonus rewards.

There are a bunch of marketing gimmicks out there that try to woo customers into getting the latest credit card on offer. However, before falling for any one offer, you need to weigh out all your options diligently.

The reward program is one of the main things that will help a person decide upon a card. They can range from a simple zero percent interest rate credit cards, to one that offers air miles as rewards on purchases. The number of things that are marketed are dime a dozen, but you need to figure out just what offer is ideal for your needs.

The rewards that are offered can be very seducing, but it must not be the sole reason for choosing a card. There are a lot of things, like the interest rate which is important. The interest rate is what you would pay on the outstanding balance after the grace period. The interest rate can even go up to 20% per annum. Hence you need to be very careful about this. If you are going to be using the credit card just as a convenience and not a necessity, it is fine. If you use it for access to funds that you do not have, then you need to be careful about the interest rates. It`s highly recommended to review the annual fee that you will be paying to the credit card company. This can add up into several hundreds of dollars over the years.

After you take into consideration the above two factors, the next step is to look for the rewards. There is no point in getting air miles for purchases if you are not a frequent traveler. Hence you need to make a good choice about the reward program. In most cases, the reward program will not be free of cost, and you will have to pay approximately 25 dollars or so, every year.

Something you could look out for is a new promotional platform that is being offered by several financial institutions, called the bonus programs. These give customers a number of rewards and incentives that have been accrued and then are turn into goods or services.

If you are not looking for any sort of service like air transport, car services, or hotel bookings due to lack of time, or if you do not want any free goodies, because of lack of need, you must look into cash back offers. The cash back offers are not much compared to goods and services, in terms of value, but it will be good because you can use the cash for anything that you want. You can get almost 20% back on your purchases on some offers.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Excellent, Good Credit
Qualified applicants will enjoy benefits including 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply
Fair Credit
3% cash back at restaurants and 2% cash back on gas and at grocery and drug stores, up to $1,500 spend per quarter in these combined purchase categories
Good, Excellent Credit

Other Questions in
Cash Back Rewards

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!