Wednesday, April 15, 2009

Shopping Around for Rewards

You are probably inundated with emails asking you to check out this credit card or that.  While retro individuals like myself prefer to pay cash for everything the old fashioned way, credit cards have their use in establishing a credit history.  Surprisingly, all of those websites have a use, too, in regards to being a credit card review.  Many compare and contrast different rates and features.

For example, some people look for airline rewards cards. Even if you don't like to carry a balance,  you can purchase your travel tickets with the card, pay it off immediately, and enjoy the trip insurance or extra frequent flier points.  Some airlines don't treat miles awarded through purchases the same as actual flight miles, but many do.   It boggled my mind that there are at least eleven cards out there that fit the bill and offer various airline rewards.  

Another popular option is to simple look for the lowest interest rate.  Afterall, all of the rewards don't come free.  The various companies give you cash back out of the interest that you pay, or that everyone pays.  However, it is not all bad.  You are essentially, "renting" someone else's money and they need to recoup somehow. 


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