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The Tricks of a Credit Card Rewards Program

What to Avoid in a Credit Card Rewards Program

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What to Avoid in a Credit Card Rewards Program

Selecting a credit card rewards program can be a challenge. With so many cards options to choose from, it is important to be aware of what to avoid when choosing a card with a rewards program.

Avoid letting your rewards go to waste. Billions of dollars in rewards go to waste every year. Avoid letting rewards sit for long periods of time, as they become less valuable over time as the price of goods and services rise. Choose a rewards card that lets your redeem often so these awards maintain their maximum value and do not go to waste. The rewards should be easy to redeem increasing your opportunities to redeem your rewards often. Look for options to track, browse and spend your rewards online instead of having to rely on complicated phone or mailing systems.

Avoid cards that have expiration dates for their rewards. If you save your reward points for a big ticket item, it would be unfortunate to find that your rewards have expired. You should also avoid cards that charge for reward redemption. Your rewards should be a free bonus of using your card.

Avoid limited time offers. These might seem great at first and then the benefits quickly plummet. Check what the rewards are after the promotional period ends. When picking a credit card rewards program you should select a card that will benefit you in the long run. Changing cards frequently can damage your credit score.

It is recommended that the majority of consumers should avoid cards with extremely high interest rates or annual fees, but there are a few exceptions. One, if you do not carry a month to month balance on your credit card, then interests rates do not need to factor in your decision. Another exception would be if you are a big credit card spender and the rewards will outweigh the cost of the annual fee. Again, this looking at current spending and bill paying habits will help decide if you need to avoid cards like these.

Since the interest rates are high, it is also important to avoid carrying a high balance on your credit card. To receive the full benefits of a rewards program, pay off a large majority (or all) of the balance each month. Otherwise, you will spend more on the cost of interest than you will receive in rewards.

Be careful when choosing a rewards program and read the fine print. Keeping these tips in mind will help you find a card that won’t have you falling victim to extra fees, program restrictions and complicated reward programs.

Shoppers Earn $4 Million in Rewards in MILITARY STAR Card's First Year at the Commissary

"Groceries are everyday expenses that can now earn rewards for service members ... For more information on the MILITARY STAR card and the Exchange Credit Program, visit MyECP.com. Facebook-friendly ve...

Published:  Thu, 18 Oct 2018 11:18:00 GMT



New Air France-KLM Credit Card From Bank Of America Available Today

The elite-status angle is especially significant if you already have a credit card whose points you can transfer into your Flying Blue account. The program is a transfer partner of American Express Me...

Published:  Tue, 16 Oct 2018 10:55:00 GMT



Are Other People's Credit-Card Rewards Costing You Money

If that happens, banks may have to cut back the generosity of rewards programs to adjust to lower transaction-fee income. That's what happened after Australia capped credit-card interchange fees in 20...

Published:  Tue, 16 Oct 2018 11:34:21 GMT



A cheapskate's guide to shopping for credit cards

which jibes with easy-to-understand cash-back reward programs, as opposed to complicated points and miles systems. In a recent J.D. Power study, 36 percent of credit card customers said they don't ful...

Published:  Tue, 16 Oct 2018 07:36:00 GMT



My Credit Card Strategy: Meet #TravelGoals Via Smart Swiping

the same excellent credit scores and fear of getting into debt. Because of this, we often each get the same card at the same time so we can earn double the sign-up bonus. Some rewards programs allow y...

Published:  Thu, 18 Oct 2018 15:33:00 GMT



Top Benefits Of Credit Cards

Credit card companies recognize the value of cash-back offers ... with entry period bonus incentives at 34% and transferable points between rewards programs at 30%. Concierge services were the least i...

Published:  Wed, 17 Oct 2018 19:10:00 GMT



Picking the Right Credit Card: 8 Great Options for Travelers

The good news: Whether you're a weekend warrior, a jet-setter, or just an average spender, there's a program ... and this card will reward you with a $200 statement credit.

Published:  Wed, 17 Oct 2018 02:07:00 GMT



Best credit card sign-up bonuses available today

Credit card welcome offers and signup bonuses are one of the best ... The Platinum Card® from American Express is part of the American Express Membership Rewards® program, and points earned with the c...

Published:  Tue, 16 Oct 2018 10:17:00 GMT



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