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Reward Credit Cards - Leverage Your Spending

Reward credit cards can provide you with great deals, especially if you are someone that pays off your balance at the end of each billing cycle. Through earning special items or services with your reward credit card, it makes it worthwhile to make large purchases with the card. Similarly, your daily expenses can be easily placed on your reward credit card and help you maximize the rewards you earn with your credit card. Here are a few additional tips for getting the most bang for your buck.

Tip #1: Obtain a Companion Card

If you are married and your spouse has a reward credit card, have your spouse request an additional card for you. Similarly, if you have a reward credit card, get an additional card for your spouse. With two of you out there spending on your card, you will increase the amount of purchases placed on the card and give yourself more rewards.

Tip #2: Use Your Card to Pay Bills

Every month, you have certain bills to pay, such as gas, electricity, and phone service. You might also have regular services such as Internet and cable or satellite. All of these services require you to complete monthly payments. Since you have to pay these bills anyway, why not pay them with your credit card? Usually, you can set these bills up to be automatically billed to your reward credit card so you don’t even have to think about them. Then, you can pay the bills off at the end of each billing cycle. Not only will this help you to build up your rewards, it makes it easier to pay your bills since you can make just one convenient monthly payment.

Other bills that may not be regular, but that need to be paid nonetheless, include dentist and doctor bills. When these bills come in, place them on your rewards credit card and watch your earned points increase.

Before deciding to pay your bills with your credit card, however, you need to make sure there are no “convenience” fees levied against the card for paying your bills this way. The best reward credit cards won’t have fees, but the company you are paying might. If there are fees, you probably should continue paying those bills by check. Chances are, the rewards you earn in return will not be enough to make the fees worthwhile.

Tip #3: Charge Your Groceries

Groceries are a regular expense. Yet, most people pay for their groceries with cash, a check, or a debit card. Instead, charge these expenses to your reward credit card. If you take a look at your monthly grocery bill, you will probably discover that you are spending quite a bit every month on groceries. Take advantage of this expenditure and place it on your credit card. Then, simply apply the cash you would normally spend on groceries to the credit card bill.

Tip #4: Charge Your Home

Many people are surprised to discover that they can often charge their mortgage payment or rent to their credit card. Many mortgage companies and apartment property management companies accept credit card payments. Obviously, this can be a large amount of money charged to your reward credit card. Just be sure to pay it off at the end of each billing cycle. Otherwise, the finance charges could be so high that you negate any rewards you might receive from the card.

Essentially, the best way to get the most from your rewards credit card is to charge as much as possible on the card. Examine all of your monthly expenditures and determine if there is a way for you to pay them with your credit card - then earn rewards and pay all of your bills with one simple payment.

To discover more about the various reward credit cards available, Robert Alan recommends that you visit CreditCardAssist.com

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October 8, 2008 | Credit_Card | No Comments »

Reward Credit Cards - Finding the Best Available

Reward credit cards come in a variety of forms. Specifically how points toward rewards are earned and the types of rewards that can be earned with a reward credit card varies from card to card.

The rewards offered by reward credit cards are generally related to a special area. For example, some reward credit cards allow cardholders to earn points when making purchases at gas station, supermarkets, or drugstores. The rewards earned are often related to this in some way, such as the cardholder may receive gift certificates to the same types of stores. Similarly, the reward credit card may be related to airline travel. Every time the cardholder makes purchases with a specific airline, he or she earns airline miles or free travel. In addition, these airline reward credit cards also generally offer the cardholder free companion tickets.

When it comes to choosing the best reward credit cards, the consumer needs to assess his or her lifestyle and determine which rewards are most attractive - and most profitable - for his or her needs. A reward credit card that provides specialized rewards, such as gift certificates to a specific restaurant, may not be useful to a cardholder that does not have a need for that reward.

Reward credit cards can provide credit cardholders with fantastic rewards for their purchases. At the same time, the consumer needs to be sure he or she is not actually paying for the reward in the form of finance charges and annual fees. Many reward credit cards assess an annual fee. If this annual fee costs more than it would cost to simply purchase the reward, it is certainly not worth paying for.

The same holds true when looking at the Annual Percentage Rate (APR). A cardholder who pays the balance of his or her credit card in full each month need not worry about the APR. One that intends to carry a balance from billing cycle to billing cycle, however, must consider the amount of money that will be spent in the form of finance charges. Once again, if the finance charges will be too great, the rewards of the credit card are not really rewards - they are items the cardholder is paying for.

Several reward credit cards have expiration dates. For those cardholders that will not be able to collect enough reward points before they expire, these reward credit cards may not be the best option. Similarly, some reward credit cards have limitations to how many points can be acquired each year. Cardholders need to consider these limitations in order to ensure they are receiving the greatest amount of rewards possible. If a cardholder spends $15,000 per year on a credit card, but a rewards credit card only rewards up to the first $10,000, that is $5,000 that is going unrewarded. The answer may be to select a different reward credit card, or to simply stop spending on this particular credit card once the limit has been reached. After all, every dollar spent on a credit card deserves to be rewarded.

A good place for consumers to look for the best reward credit cards is at the businesses they frequent. For example, a consumer that routinely purchases gas from a specific type of gas station should enquire with that business to learn if it has a rewards credit card. The same is true for a consumer that frequents certain restaurants, stores, and airlines. It is becoming increasingly commonplace for businesses to pair up with major credit cards to offer special reward cards.

For more tips and free information on reward credit cards, Robert Willard recommends you visit CreditCardAssist.com to learn more about the best reward credit cards currently available in the marketplace.

Tags: Best Reward Credit Cards, Reward Credit Card, Reward Credit CardsBest Reward Credit Cards, Reward Credit Card, Reward Credit Cards

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September 17, 2008 | Credit_Card | No Comments »

Reward Credit Cards - An Introduction

The competition among credit card companies is intensifying by the day and in order to beat the competition, card issuers are coming up with new offers and incentives to entice customers each and every day. Reward credit cards have gradually evolved in this race for survival among credit card issuers and banks. Why would reward credit cards, which were once issued only to the loyal customers of a credit card company, be promoted and distributed in such large numbers? Well, market conditions have pressured credit card issuers into providing newer more compelling credit card offers, allowing the common man on the street to gain immensely from the newest and best reward credit cards currently available. This article will describe the various types of reward credit cards, features, benefits, tips for use, and things to watch out for maximum advantage.

In essence, reward credit cardholders are entitled to receive rewards based on the points he or she gains through their card purchases over time. The most common types of reward credit cards seen in the marketplace are air miles credit cards and cash back credit cards.

Air miles credit cards provide air miles for each dollar spent using the card and allow the user to redeem the accumulated miles for hotel accommodations, air travel or car rentals. Such offers are especially beneficial for those who are frequent fliers. Cash back credit cards typically give back a set percentage of total purchases as a cash rebate based on the total bill, either monthly or annually.

Who Should Be Using a Reward Credit Card?

Although the credit card companies are undoubtedly aiming to profit from every type of credit card they roll out in the market, one can expect some economic advantages behind the reward credit cards for consumers as well. Reward benefits for cardholders are usually offset by higher interest rates and additional fees and surcharges that exceed what a normal credit card might incur. Reward credit cards are best suited for individuals that can confidently pay off their card balance each and every month so as not to incur finance charges by carrying a balance. The points that you earn from your purchases can be built up progressively but are better suited to individuals or businesses that use their cards often and are probably not best for those who use credit cards very sparsely primarily because by the time the cardholder builds up enough points for a viable reward redemption, many times, the expiration date on those points will have already expired.

Tips for Use

So if you do plan on acquiring a reward credit card, to get the most out of the card, you should try to use it extensively, including virtually every bill you pay, including electricity and gas bills, phone service expenses, weekly grocery shopping, and internet and cable TV, etc. If you are financially sound enough to make the repayments in time, there are even some reward credit cards that will allow you to charge your mortgage or rent payment on your card.

Also, it is a good idea to apply for an add-on card for your spouse and distribute the spending on both. This way the customer could gain more bonus points for the same expenditure and hence better rewards.

To sum it up, the trick is quite simple, use your reward credit card as often as possible (well within your repayment ability, of course), always pay off the card balance at the end of each month, and reap the reward benefits.

Finally, before concluding, a word of advice; prior to applying for a reward credit card, do a bit of research to see which companies are offering the best reward credit cards and which among them is the most advantageous for your personal situation. The Internet provides a wealth of information on various card types and offers so be sure to utilize the information available online. A little bit of homework will make all the difference in your reward credit cards selection.

For more on reward credit cards, Robert Alan recommends that you visit CreditCardAssist.com.

Tags: Best Reward Credit Cards, Reward Credit Card, Reward Credit CardsBest Reward Credit Cards, Reward Credit Card, Reward Credit Cards

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August 14, 2008 | Credit_Card | No Comments »