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Credit Card Rewards

02:51:27 AM Thursday, May 24, 2007

Picking the right credit card deal for the road!

Everyone loves credit card deals that include rewards programs. These rewards programs can include pretty much anything: frequent flier miles, gasoline credit cards, hotel discount credit cards, cash back rebates and even gift certificates to your favorite restaurants!

Don’t believe it? Check out the internet. Online you can find countless credit card deals that have anything and everything you need. If you want to check out your future credit card, look on the internet and start comparing credit cards!

If you have any interest in getting a travel rewards card then you should look for certain things, but first you have to figure out which type of buyer you are!

Who are you?

When you look into your financial situation, you are sure to find out that you are one of two different buyers- frequent buyers or frequent fliers. Figuring out which one is you is an important factor in you finding the credit card deal for you! Below are your options:

Frequent flier: If you fly a lot and would love the opportunity to get free airline tickets then you would fit the criteria for a frequent flier. There are many airlines that give out frequent flier miles just for purchasing items on their credit cards.

To fit this profile you are going to have to spend a lot of money to earn those tickets- usually around $25,000 per ticket (typically it takes around 25,000 bonus points to earn one free round trip ticket). Look for these VISA and MasterCard deals from your local airline.

Frequent buyer: Those who spend a bunch on their credit cards but want more of a variety when it comes to credit card rewards will fall into the frequent buyer profile. Frequent buyers don’t seem to travel as much as the frequent fliers but they still want to have the option of cashing their credit card rewards programs in for free tickets, if they want. Most frequent buyers are going to want cash back rebates or merchandise discounts for their rewards.

What now?

Now that you have figured out what type of buyer you are, it is time to determine what is most important when it comes to credit card features. Here is a list of some of the more important credit card qualities:

•APR: Many US credit card deals come with low interest but definitely not all of them! Many consumers aren’t even aware that the APR for their current credit card is high, until they look closely at the statement! It isn’t unusual, especially for rewards program cards, to have an interest at over 20%! Look for zero percent credit card deals that last at least 12 months.

•Points for each ticket: Don’t just assume that you are getting one bonus point per dollar you spend, it isn’t always like this. While many credit cards give you between 1% and 5% for cash back rebates and rewards, some only get that high after you have spent a certain amount! Don’t get sucked in!

•Travel limitations: This is especially important if you are a frequent buyer with a non-airlines card. If you try and use your bonus points on a free airline ticket you may come into a whole lot of travel limitations and restrictions by the airlines. You’ll have to book your ticket well in advance and make sure that you aren’t traveling on a holiday or anything like that.

•Other considerations: Make sure you are aware of how far you are from the airport and what airlines are in the airport. It doesn’t make much sense to have an airline miles card if you live 5 hours from an airport and if it doesn’t have the right airlines!

Comparing credit card deals

So, you think you know what you want? If you know what type of buyer you tend to be like and what features you like most in a card (lower interests, travel rewards, etc) then it is now time to do some comparing. Comparing the best credit card deals is the surest way to get the best one.

The internet is the first place you should look because many websites put similar cards side by side so you can see them and compare. The top credit cards will shine above the others so keep your eyes open!