With so many rewards credit cards to choose from, it can take quite some time to learn more about every offer that’s available. While every card has something unique to offer, you don’t want to make a final decision until you’re sure that you’re getting exactly what you want.
Fortunately, by answering a few key questions, you can narrow your options and choose the rewards credit card that best suits your finances. Here are the questions to answer:
- How do you earn points? The primary benefit of a rewards credit card is the ability to earn points for every dollar you spend. It’s important to have a clear idea of how you earn points, as this gives you a better understanding of how things will shape up for you. For example, some rewards credit cards give you one point for every dollar you spend. Others, however, reward multiple points when you spend in certain categories, such as entertainment or travel.
- How can you use your reward points? It’s one thing to earn reward points, but another thing entirely to use them. The best rewards credit cards have a robust program that allows you to redeem points for everything from travel to gift cards to cash.
- Do the points expire? This is an important question to answer if you plan on hanging onto your points for an extended period of time. It’s okay if your points expire, but you need to understand the schedule so you don’t lose them.
- What’s the process for redeeming points? Most credit card issuers make this easy, but you’ll want to check on this key detail upfront. For example, the ability to redeem points through an online portal makes life easier on you. With this, everything you need is at your disposal.
There are other questions to ask and answer as you search for the best rewards credit card, but these should definitely be at the top of your list.
Do you carry a rewards credit card? Are you happy with your choice? Would you add any other questions to the four above?
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