Guide to Credit Card Reward Programs

We have all seen the commercials of people trying in vain to redeem their credit card rewards. Credit card reward programs can be tricky, but they don’t have to be. Most of the major credit card companies have recently made attempts to separate themselves from that stigma and have made using your rewards points much easier. Knowing ahead of time what the restrictions on using your credit card rewards program are will make cashing in on them simple. Doing your research and knowing what type of rewards card you want and what type of pitfalls to avoid will help you select a credit card with the perfect rewards program for you.

Miles Reward Cards
It seems that miles cards have been around since the dawn of credit card rewards programs. Often the biggest complaints around rewards programs center around people trying to redeem their earned miles. Many card companies have tried to remedy this problem, by making their programs less restrictive. When selecting a miles reward card look for a card that is straight forward about how you earn your miles. It may sound good for a card to promise you 5 or 10 miles on qualifying purchases, but in reality a card that gives you a straight 1 mile per every dollar spent will earn you more. Additionally, look for cards that offer no restrictions on dates and seats. The Capitol One No Hassles Miles card is an excellent choice for Miles rewards.

Cash Reward Cards
Many people are attracted to cash reward cards for a good reason, who wouldn’t want to earn cash for spending money. When looking for cash reward program you want to look for a card that will actually cut you a check and not restrict your purchases. Additionally, compare cards for what percentage you earn per purchase and if your rewards expire. Bank of America Total Merrill Cash Back Visa is a popular cash back reward card.

Gas Reward Cards
With the cost of gas climbing daily, having a gas rewards cards probably sound s like an interesting prospect. Gas reward cards are similar to cash reward cards in that you earn money for spending money. Gas reward cards give you cash rebates or gas credit when you spend money on gas and car maintenance. Just like a cash reward card you would want to look for a card with no expiration on rewards no limitation on where you can redeem your reward.

Retail Reward Cards
Many credit cards now offer specific retail reward cards. Typically, these cards are only good for people who buy the same types of things repeatedly. The retail reward cards work by applying points or dollars towards your rewards program every time you use your card. The points or money can be used on related services or at that store depending on the card. Some examples would be pet reward cards, home improvement reward cards and electronic reward cards. Look for limitations on spending, expiration on points and return on initial purchases.