Rewards credit cards can be very appealing, but are they the right choice for you?
Possibly. It depends on how you are going to use them. Not how you think you are going to use them, but how you are going to use that credit card.
If you pay off the balance every month and there are no annual fees, a rewards card can be a very good deal. Pay too much in interest, however, and you lose all of the benefit of getting your free airline miles, cash rebate or whatever the reward may be.
If you know you are not likely to be paying off the balance every month, evaluate the rewards credit card the same way you would any other credit card. Consider it's annual fee, if any, the interest rate and any other fees that may apply to the credit card. If you can get a lower interest rate while getting rewards, great! But if the interest rate is higher than you would get otherwise, it is probably not worthwhile for you.
There are so many kinds of rewards cards available for your needs. What would you like to get for using your credit card?
I want cash!
I want airline miles!
I want hotel points!
I want gas for my car!
I want points!
I want entertainment!
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