Credit card rewards options you can choose from

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Credit card rewards options you can choose from


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
There are many types of rewards offered by credit card companies. But it is not often that one can come across a really good offer which actually makes economic sense. Most of the time, the offers are given out by companies just to promote certain products or services for a limited time period. A common example of a credit card reward would be the points system which is offered by most credit accounts. This is based on purchases made by the card holder. With every purchase made with your credit card, you would get a certain number of points. The points could be based on the dollar value of the purchase or even on the number of times one swipes the card. But in most cases, the points that one accrues would not be substantial compared to the amount that is spent on the card. While buying the card, one needs to understand the points system properly in order to make a good financial decision. Another points based system which is very popular are the points which can be redeemed for gasoline at a gas station with your credit card. This is usually a very substantial amount since the gasoline companies always vie with each other to catch hold of customers considering that all gasoline companies almost charge the same amount for gas. Other sorts of rewards that one can look out for would be the freebies which are handed out with the card while opening the account. For example, one could get a free vacation package for a couple along with hotel stay and local transport with certain cards. But make sure you are getting a return ticket because if you get a one way ticket, it would most probably be at a time when the other ticket would cost a bomb. Also make sure that the destination that they are offering is not suffering an off season. This is true in most cases and there wouldn`t be too much of a problem in adjusting to the season, but it really does not make sense to go to a beach resort when there is a hurricane warning in the resort town. Sometimes there could also be a limited time cash back offer. in such cases, whenever you make a purchase you would get back whatever you have spent on the commodity. But there might be a lot of clauses involved in such offers. For one, you would not get cash back on any transaction that you make. There might be only a certain sort of commodities or services for which you would get cash back and there might also be a limited time period during which you would be eligible for cash back. Hence it would be necessary to make use of the offer as soon as you get the card and you will also have to keep in mind that you will need to pay back the amount that you spend with your card failing which your credit score can suffer and the interest that you pay on the amount would be more than the benefit accrued from the reward.

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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