October 19, 2017

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The Tricks of a Credit Card Rewards Program

What to Avoid in a Credit Card Rewards Program

What to Expect from a Credit Card Rewards Program


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The Tricks of a Credit Card Rewards Program

The wide selection and variety of Credit Card rewards programs available for consumers can often lead to some confusion and complications when choosing the right credit card. Credit card companies are clearly in the business to make a profit and do not often lookout for the consumer. They are concerned with their interest rates (which tend to be higher with rewards programs) and fees than with the rewards they are giving the consumer.

With all the confusing credit card lingo and variety of options such as spending tiers, rotating reward categories, and redemption options, there is a chance a credit card can never really work out. You want to have the credit card be a tool to help you with your budget instead of costing you more money.

Here are some tricks that are frequently found with credit card rewards program.

  • Opting-in to earn rewards. These rewards program require you to opt-in when they offer a rewards program such as 5% back on all purchases. This is a good percentage of money to reward users with. This puts the credit card company at an advantage because often many consumers do not opt-in at the deadline, saving the credit card company money, yet they can still advertise their 5% cash back rewards program.
  • Offering a variety of rewards. Having too many rewards to choose from can benefit the credit card company. Not all items in a point price range cost the same, so the credit card companies take advantage of customers selecting lower price merchandise. Often lower priced items cost a higher amount of points because people tend to redeem points more frequently rather than save them for a big ticket item (for example, a $50 gift card may cost 7,000 points and a $25 gift card costs 5,000 points).
  • Reward Caps. Read the fine print. There are often limits on how many points you can earn or redeem in a specific time frame. If a company is offering 5% cash back on all purchases, it may have a dollar limit.
  • Fees. Credit card companies charge a multitude of fees from an annual fee to reward fees. Often consumers get their credit card bills and find fees for items they werenĺt even aware of.

There are some other tricks to watch out for. Be aware of a change in interest rates. Late payments or high balances may trigger an increase in your interest rate. Companies can also switch the interest rate when applying. You might apply for a card with a low interest rate and end up with a high interest rate card. Before accepting an offer take a close look at the terms and educate yourself so that you are not tricked by a company.

IHG Rewards Club Select Credit Card

The IHG Rewards Club Select Credit Card can help you quickly earn free nights ... they do not participate in the IHG Rewards program. This card also offers a modest sign-up bonus of 60,000 bonus points, worth about $375, after spending $1,000 within ...

Published:  Wed, 18 Oct 2017 09:42:00 GMT

Retailers Lure Customers to High Interest Credit Cards With Increasing Rewards

While about one-third of the 65 cards surveyed added value to their rewards programs in the past 12 months, the average retail credit card APR also rose for the third straight year to 24.99%. The number is even higher for store-only cards (26.38%).

Published:  Wed, 18 Oct 2017 10:20:00 GMT

2017 Retail Store Card Survey: Customers lured to high interest cards with more rewards

... to look more like general-purpose cash back cards with more robust rewards programs, all the while charging more for the privilege, according to's 2017 annual survey of retail credit cards. Americans love their credit card rewards.

Published:  Wed, 18 Oct 2017 06:47:00 GMT

Is the Bank of America Premium Rewards Better than the Sapphire Reserve and Amex Platinum Cards

Another travel rewards credit card of 2017 has entered the market ... If so, you can earn a bonus with their Preferred Rewards program that will give you a 25%, 50%, or 75% bonus on each purchase that can let you earn up to 3.5 points per $1 spent.

Published:  Wed, 18 Oct 2017 10:56:00 GMT

Is a Disney Credit Card Right for You

An in-depth look at the Disney credit cards and their rewards programs. Disney has two credit cards offering big savings to Disney park goers and store patrons alike. Both the Disney Rewards® Visa® Card and the Disney Premier Visa® Card feature a ...

Published:  Mon, 16 Oct 2017 09:28:00 GMT

The 6 Best Hotel Credit Cards for Rewards

If you're a jet setter, there is no shortage of travel rewards credit cards to choose from. But sometimes, you get the most value out of rewards programs if you use cards that focus on a particular type of reward. For travelers, this could be airfare ...

Published:  Tue, 17 Oct 2017 05:00:01 GMT

How to Get Cash Back From Your Credit Card

Some secured credit cards, which are designed for people who have low credit scores and lower spending needs, offer pretty attractive cash-back rewards programs. The Discover it® Secured Card offers 1% cash back on most types of spending, plus 2% cash ...

Published:  Thu, 12 Oct 2017 03:15:00 GMT

HSBC Gold Mastercard and HSBC Cash Rewards Mastercard: Credit Cards for World Travelers

The main drawback to this card is that it does not have a rewards program. If rewards are a must-have for your credit cards, you will want to look elsewhere. HSBC Cash Rewards Mastercard Why We Love It: Like the HSBC Gold Mastercard, the Cash Rewards ...

Published:  Tue, 10 Oct 2017 13:53:00 GMT

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