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Research: Tips for choosing credit card rewards -

Searching for that all-in-one credit card is no more a time consuming uphill task. While there are many lucrative offers from a multitude of companies, you need to identify the one that is customized to your lifestyle. Needs and expenditures vary according to age group and life style. Credit card companies understand these nuances in expectations. They have credit cards rewards schemes that convert bystanders` into customers.

A student for example, would need a credit card that makes every edible purchase rewarding. Reward points that make purchase of pizza (and drinks!), apparel, groceries and at last books cheaper, are more attractive and suitable to students.

A young working professional would opt for a credit card that gives airline miles to make air travel cheaper. They would even appreciate cash back on fuel purchase to zoom down on that sleek BMW or the Apache! The satisfaction gained from having a credit card that allows you to skip paying, for filling up the gas tank for an entire month, will definitely save you from the next round of unplanned petrol prices hike. If that is not enough, drive down on that (almost) free petrol, to savour the taste of those delectable dishes in your favourite restaurant and get rewards for even that!

Many companies provide equally appealing offers on Cash back bonus. Select a credit card that provides higher cash back bonus offers on goods that you are most likely to purchase. The extra money earned from this hard endeavor can be spent on miscellaneous ventures with your close friends.

If saving your hard earned money is your passion, then go for a reward credit card that gives cash back on every purchase made; groceries, gas, food, travel, shopping (online and offline) to gift vouchers, home appliances, cosmetic and donations to charities are only a few which you may offer a variety of points. You can even select redemption options that are most suited to you, to redeem reward points from the entire range.

So the bottom line is to read the reward policies of various banks before signing up for that credit card! Find one that matches your needs. Opt for a credit card that has low interest rates and a low or no annual fee.

After getting a credit card, make sure that you don`t do anything that allows the Company to forfeit your accumulated reward points. Pay the card bill before the due date. Doing this will not only keep the interest rates low but also keep your reward points alive (literally). In a low cash month, make sure that you pay the minimum amount due for the bill and carry forward the expense to the next month. Many banks provide this facility at nominal charges. Check the rate of interest for minimum payment.

Regularly check the points accumulated after your monthly purchases to redeem any reward points that are about to expire. With an online account you can calculate the reward points and cash back bonus on the company website.