Kaile’s Credit Card Deals

Reward cards are pretty easy to understand yet they are so diverse and it can get confusing at times. Reward credit cards usually offer some type of incentive or bonus points depending on how much you spend. Normally most of these types of cards have higher interest rates - but thats not always the case. If you were to compare the interest rates between regular cards and reward cards you will be able to see the generalized difference. These types are not for everyone and may end up costing you more despite what all of the sales hype may say.

Its a good thing if you are earning cash back, airline miles, or free products - but is the interest rate costing you more than the rewards? You need to take that into very careful consideration when hunting for credit card deals. Just make sure you know what you are getting into before you sign up for anything. While researching you should note down the specific interest rate and reward programs. Get a calculator out and break down all of the number based off of your spending habits. This should help you determine whether or not a rewards credit card is the way to go.

This doesn’t mean all reward cards are bad. There are many benefits to having a card like this. They all differ and some may offer you things like free points (usually redeemable at participating stores/restraunts), free items, gas, airline miles, etc. A lot of stores are starting to offer their own VISA & MASTERCARD credit cards and they normally offer rewards at their specific store only.

If you already know the bank you want to get credit with (such as Wachovia or Bank Of America) than you may be able to choose the type of rewards for your specific card. A lot of times banks will offer brochures that allow you to grab, mix, and match the type of rewards that fit your lifestyle. Before you start researching the different credit card deals out there, make sure you read and go through everything in the fine print.