Do you know what type of rewards your credit card offers? If not…find out. Are you getting the rewards you want and deserve? I only recommend credit cards if you can pay the balance off every month and pay it on time. If you pay a credit card late you will owe $35 or more in late fees and you may lose all of your reward points. Credit cards are not always the best choice depending on your financial situation and your propensity to pay bills late.
However, credit cards can be a great financial asset. My credit cards offer cash back for my rewards program. These cash rewards add up to a lot of money and pay for most, if not all, of my family’s Christmas gifts. If you travel a lot then you may want a travel rewards credit card. There are so many different types of rewards. Credit cards offer great benefits too. They often provide buyers protection for items that you purchase and Rent-a-Car insurance. Read the information that comes with your card or call to find out all the benefits that are part of your credit card.
Research the best card for you by how the card accumulates points. You want to be able to accrue as many points as possible. My card, American Express, rewards the most points 6% for groceries 3% on gasoline and 1% on everything else. It would not behoove me to have a card that gave me the most points for flights because I don’t fly very often. My card has a $95 annual fee. American Express offers a card with no annual fee but the point structure is lowered. So find the best card for you. It is well worth the time and effort.
Chief Executive Organizer