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Most Americans today carry at least one credit card and each type of card has different purpose like airline credit card or mileage card are for those who frequently travel. Some types are cash back cards, shopping and savings account, and many others. Whichever card you have, you certainly will earn points and get rewards.

When looking for credit card rewards which are right for you, you have to consider some factors like how much you have to spend and how long will it take for you to earn these credits. Get the best deals out of your money by understanding your rewards.

Cash Back Rewards: This is the most popular type of reward that can easily be redeemed. The good thing with cash back reward is that it doesn't come with annual fees and it never loses its value. Most credit cards offer 5% cash back in gas stations and drugstores, department stores and supermarkets, and at some places like restaurants, hotels and car rentals but these are offered on a limited period of time. Some have 1% cash back reward depending on the special offer the credit card company provides. Your cash back rewards can either be redeemed as check or you can deposit the amount to your saving account.

Air Mile Rewards: This allows you to earn frequent flyer mile credits. For every dollar's worth of purchase you earn one mile point. Over a period of time your mileage points can be redeemed by an upgrade from coach passenger to first class or you can have free air travel. Be sure you're aware that mileage cards are only based on programmed point level system. You have to have enough points before you can be eligible for the free air travel. Points from your card expire especially when your card is inactive so you have to know when it will. Unlike cash back rewards, airline credit card rewards often come with annual fee though some credit cards may not have annual fee, but they could have limited airlines from which you can use them.

Travel Rewards: This is very useful for you if you are a frequent traveler. Travel reward points are not limited to airline flights, but also additional services like travel assistance for rebooking flight, car rentals, or free hotel accommodations. Car rental insurance and flight insurance is covered when you have a travel rewards credit card.

Point Rewards: This reward system allows you to earn points in exchange for a variety of items like merchandise, gift cards, groceries, travel perks, etc.

College Fund Reward: This is good way to save for your kid's college education. Only a few credit card companies have this service.

With all these and other rewards available for you what is important that as a card holder, look for a card that will do good to you more than make you spend more for just a free item that would be useless.