Annual Credit Card Rewards Review

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Credit cards that are available today offer many different types of programs to their customers.  These programs are often referred to as a rewards program and are becoming more popular.  These rewards programs work for some people and some times they do not work for others.  It is important that the consumer does their research to be sure that the rewards will fit their financial situation and their budget.

What Is A Credit Card Reward Program

A credit card rewards program is a program that will offer the consumer rewards of different kinds just for charging on their credit cards.  Every credit card company that offers a reward program will have different types of rewards as well as different rules on how to earn the rewards as well as spending or cash in the rewards.  Most of the time these rewards are not the best idea for consumers who pay their balances off every month.  These programs should be aimed at the consumer who carries a balance on their credit card from month to month.

Types Of Reward Programs

One of the most common types of reward program is that that will offer an introductory annual percentage rate.  This will often involve purchases with a certain annual percentage rate for a time period such as a year. Of course if the balance is not paid off in that year’s time the original interest rate of the card will be used from the date of the purchase.  This is usually printed in the fine print and many consumers do not read that and get stuck with a large amount of interest in the end.

Another type of incentive that is spoken of in the form of a reward is a zero percent interest rate on a balance transfer for up to a certain amount of months.  Fifteen months is the most popular.  Once again if the balance of this transfer is not paid off within those fifteen months the interest will be calculated from the original percentage on the credit card.

One other rewards program that is becoming increasingly popular is that of a travel reward.  If you as the consumer travels frequently this could be beneficial to you.  Most of the travel rewards credit cards are partial to one airline to travel on.  These travel reward credit cards have many different advantages such as cash advances to be used while you are traveling as well as special incentives for those who are frequent fliers.

Credit cards that can be used to purchase gasoline can also have great rewards when used properly.  Many will offer low interest rates or even a certain amount of money off of the cost of the gasoline.

It is important for the consumer to do an annual review of their credit card rewards.  This is because some of these cards will offer a high interest rate to help cover the cost of the rewards.  If the card holder is not using the rewards they are given it is not beneficial for them to keep paying fees as well as high interest rates for the next year and years to come.

Author Bio


Janice Thompson likes to write fiance based articles. She has been writing since a long time on different subjects like credit card, loans for bad credit, debt, insurance etc.