Stop Missing Out On Free Travel And Cash Back With These Reward Credit Cards

Let’s start by defining what we mean by the term ‘reward credit cards’. Well it’s pretty simple, these are cards and credit cards that come with some kind of additional award for every Dollar you spend with them. The rewards can be frequent flyer miles, hotel loyalty points, cashback and reward points to redeem against a gift catalogue to name but a few.

Can I really benefit from a reward credit card?

The answer to that question depends on how much money you spend on a credit card each month, and whether you are prepared to change your behavior to maximize the benefits that you can eke out. Savvy consumers can get quite obsessed with their credit cards and though they pay down their credit card balance completely each month they use their credit card to earn frequent flyer miles. If you have the discipline to use a credit card in this way and not run up a big balance that incurs interest, you can quickly build up frequent flyer miles whether you fly anywhere regularly or not!

Are there any downsides?

There really are no downsides to these benefits. They come automatically with many credit cards these days anyway, so you can pick a card that gives you the most meaningful and useful rewards for your lifestyle.

However, if you take out a credit card and spend away without the means to pay the balance off in full, there can be downsides. Credit card interest rates are high in comparison to loans so keep that in mind before you take out a credit card. These cards are far more beneficial and economical when used as a way to accrue rewards than used as a credit line.

What cards are the best?

Card benefits and rewards change all the time and there are hundreds of different cards available. Is earning free flights for your vacation the most important thing for you or would you prefer to get cash back on all of your expenditure each month to give yourself a cash boost? Only you can decide.

What we do advise is that you really dig in not only to the rewards but also to the other features of the cards you are interested in. Some charge an annual fee for example. The other major variable is what the APR is. If you can’t pay off your full balance each month you are looking for the lowest APR possible. APR is short for annual percentage rate and in terms we can all understand, should be seen as the cost you pay (in interest for example) of any unpaid balance you have on your credit card.