How do I know which reward card is best for me?

Monday, June 22nd, 2009

How do I know which reward card is best for me?

Finding the best rewards credit card

When you are searching for a credit card, keep in mind that the best reward credit cards are not necessarily the programs with the lowest interest rate.

Some credit card companies may offer rewards cards with enticingly low interest rates but at the same time tack on high annual fees, point redemption fees, and many other costly charges that can make the low interest rate insignificant.

In your quest to find the best reward credit card you need to take the time to compare different programs and find the one that is best for you.

Look at the disclosure of every card and see if there are exorbitant fees or complicated point redemption procedures that will make it nearly impossible for you to ever claim your rewards.

You should also make sure that the advertised interest rate for the reward card of your choice is not an introductory rate. You don’t want your low interest rate to suddenly increase at the end of an introductory period.

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