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Different individuals have different uses for credit cards. To make credit cards beneficial for everyone, credit card companies offer different reward schemes, special offers and other features for each of their credit cards. Choosing the credit cards based on their features and rewards will ensure that the card accomplishes its purpose efficiently.

Every reward scheme is different and is designed to target specific group of individuals. Different reward schemes and their highlights are listed below, to help in choosing the best reward credit card:

Air Miles Reward credit card:

Highlights:

  • Gives air mile points for every dollar spent.
  • Points can be redeemed while purchasing air tickets.
  • Benefits businessmen who are on travel, and frequent flyers.
  • Can be combined with airline carrier's reward programs if possible.
  • Reward schemes may include free hotel stays, taxi rentals and tickets to amusement parks, depending on the credit card company.

Cons:

  • May be limited to the participating airlines, so destinations may be limited.
  • The reward credit card may have an annual fee.
  • There may be a set date within which the points must be redeemed. This can be a problem when there are no travel plans within that date.

Point system reward credit card:

Highlights:

  • Accumulates points for every dollar spent on purchases with credit cards.
  • Points can be redeemed for cash back or merchandize.
  • Ideal for people who use credit cards for day to day purchases regularly.
  • Might even include attractive discounts in participating departmental and grocery chains.
  • Cash back may either be credited directly to account of the card holder, or may be issued in the form of a check.

Cons:

  • Points system will have a fixed lower and upper limit, upon which the redeeming depends.
  • Points cannot be redeemed if the lower limit has not been crossed in some cards.
  • Also, some purchases made in non participating merchants may not count towards the point reward scheme.

Gas points reward card:

Highlights:

  • Gives points for every dollar spent on purchase of gasoline.
  • Can be easily redeemed for instant discounts and cash back options.
  • Ideal for people who use personal automobile for daily commute.
  • May be combined with rebates on purchases related to automobile.

Cons:

  • This is limited to only participating gas stations in the locality.
  • Although rewarding, this does not have much flexibility when it comes to discounts and rebates on daily purchases.