Are you cashing in on your credit card rewards?

Like all things in life, we juggle the things that are important to us and dismiss the things that aren't. When you are looking for your next credit card consider if rewards are important to you and whether they should be factored into your decision. It's easy to get caught up in low interest rates but if you are a big spender you could be cashing in on some really great rewards that don't come with standard low rate credit cards.

Because of the sheer volume and variety of credit card reward programs it can be time consuming and overwhelming deciding which one to go with.

Understanding your spending habits and what really matters to you will ultimately help you narrow down and find the right rewards card.

From free flights to points for shopping, the range of options will depend on the way you use your credit card and what you will get the most out of.

Credit card reward types

  • Frequent flyer points
  • Gift vouchers for products or services
  • Cash-back
  • Instant reward of automatic discounts

While frequent flyer points are a popular reward, if you don't like flying, there are a range of other credit card rewards programs available to choose from. Perhaps find one where you can redeem your points for vouchers or get cash back. Shop around and compare credit cards online to see what credit cards rewards programs are available so you can be rewarded.

Just remember to look for one that offers the most points for every dollar you spend, that way you get more out of your money.

Also be aware that most credit cards offering rewards programs may charge a higher interest rate compared to other cards, so look for one with a lower interest rate and pay it off each month to keep your costs down.

The table to the right also lists some of today's lowest rate credit cards.


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