Are credit card rewards important enough to be a main criterion?

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Credit Card Applications » Research » Guides » Travel with Credit Cards » Are credit card rewards important enough to be a main criterion?

Are credit card rewards important enough to be a main criterion?


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.
When choosing credit cards, some of the things that you do look at would be annual percent rate or even the amount of money that you might end up spending in terms of fess and other expenses. But, nowadays, people are also considering credit card rewards as one of the methods to determine whether or not this is the card that they would want to go in for. If you think about it, perhaps this might be something to take into account. However, is it the only criteria that you would look at for deciding about the card? Discounts on transactions In a bid to take on a larger number of clients, many of the credit card companies offer discounts and cash back schemes on all transactions. In this way, they can lure in customers on the pretext of paying them to make use of the cars. However, upon close inspection of such credit card rewards, it becomes quite clear that there are a number of conditions and restrictions to take note of. Only if your card can truly satisfy on all fronts, should you go in for it. Reward schemes Certain kinds of credit card rewards take it one step forward and actually offer a reward to the customers that are going to make use of it. These rewards can be something small like tickets to a show or a movie premier, or they could be something as big as a chance to win a sports car. Hence, these kinds of regular chances to win make the rewards quite exciting to be a part of. If you are someone that likes to play the lottery, then this is the option that you would want to go in for and probably take advantage of. Rollover options Some types of credit card rewards are designed for the long haul. Hence, if the customer decides to hold onto them and accumulate them for claiming something really good later on, they might be suitably rewarded. However, this is not necessarily something that many people would do. Unless you are the kind that doesn't mind accumulating these points and waiting till they amount to a good number, you don't have much to be afraid of. On the contrary, if the rollover options don't seem like a good fit, you might disregard it and look at other features. Thus, the answer to the question lies in the kind of person that you are. If you are the patient types that doesn't mind waiting around in order to make the most of what you have, then the point based system works for you. On the other hand, if you are the kind that wants to see the difference right away, with each transaction, then going in for a transaction based discount is the best option. In this manner, you can easily decide and opt in for the right kind of credit card rewards and possibly get better advantages with the use of your credit card.

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.
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