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Posted: August 15, 2010 Updated: December 26, 2012
The content is accurate at the time of publication and is subject to change.
You are probably someone who loves to shop. Or maybe you just find so many bills, you are wondering about getting something back for all the spending happening. Many people who do online banking will have seen a lot of advertisements about credit cards and rewards when you pay a bill or shop online with your credit card. In case you are wondering why or when you can sign up for these, here's a small overview. Credit cards are not just about rewards but also costs. If you need a card with a reward and you have no qualms closing off the balance every month you can go ahead and apply for some excellent options in cash back or points for purchases. What you need to see is where you use the card the most and hence where you could do with some benefits.
If you are a business traveler who has to often make many trips for your work then a card which is for a frequent flier would be an ideal one for you. You will be able to find plenty of frequent flyer cards in the market. You can even get them from certain airlines. But when you choose it would be ideal to pick out a card that will be flexible on the count where you can add up points irrespective of the flight you are traveling by. In that case you can get a lot more benefits and it will be more useful to you to have it. The points reward system works quite simply there will be a certain number of points based on every dollar that is spent. Some cards also offer a joining bonus on the first swipe done for a purchase which can be redeemed for a flight ticket or a hotel stay at a participating location.
When you look at rewards cards it is important to look at two main things. Firstly the additional costs and interests involved. See how much of it is affordable to you and that the bills do not get too expensive. Also check the conditions for redeeming rewards. Sometimes you may have to shop in a certain location or eat at a certain restaurant to be able to get reward points. If you are not someone who may visit these places or do not like certain brands which are in the offer, you may not make much use of it. So check how flexible your card is.
Credit cards with rewards are a big motivation for customers to spend. In fact the closer a customer gets to gaining a reward the higher the spending spree. If you are the kind of person who does not enjoy shopping a lot then you won't find it very useful to have these cards. In most cases they are just a way to step down the guilt and add up on the feel good factor for shoppers. You may also need to redeem the points accumulated within certain dates, do make sure you know all particulars before opting for a card with a rewards program.
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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