While all that is true, the “beware” warning is to make sure you shop around and pick the best credit card rewards program for you personally. And the best credit card reward program isn’t necessarily the one that solely fits your lifestyle. Rather, it is the credit card reward program that costs you the least in the long run. It is credit card reward program that doesn’t push you into more long-term credit card debt than you can afford. It is actually credit card reward program that truly rewards you and doesn’t penalize you. The aim of this article is to provide you with the information you need to help you wisely choose the most economically feasible and best credit card reward program for you personally.

Before you apply for a credit card reward program, you should get the facts first. The most import advice anyone can give when it comes to credit card reward programs is to use your credit card for everyday purchase to earn lots of points, then pay it off each month to avoid interest.

The next bit of advice for the credit card reward program seeker is to ask a few basic questions before you decide which one is best for you. The first question is “How do the rewards accumulate?” – how do they add up? Since every credit card reward program is different, consider how many points you get for a dollar, and how many you need to receive your reward. A corollary to this question is “how many points can you earn each year – is there a limit? And along the same lines, “how quickly do these points expire?” Lastly, you must consider your personal credit history. Do you have good credit or bad credit? If you have bad credit, does the reward program offer credit cards for bad credit? So in analyzing the competing credit card reward programs, these questions are essential in making the proper comparison as to which is the best card for you. But there’s more!

Consider how easy (or difficult) it is to get your reward. Does the credit card reward program you are researching reward you automatically as soon as you’ve spent enough to earn your reward? And in the same vein, does the credit card reward program allow you to redeem your rewards by phone or on line whenever you want to? And if they do, check out the “user friendliness” of their system, whether on line or by phone.

Finally, there’s the very fine print associated with credit card reward programs. Are there any extra fees associated with the credit card reward program you are considering? It could be an annual fee just for the privilege of having a credit card reward program. Or is there a higher interest rate than for a similar card that doesn’t offer a credit card reward program? Check whether there’s a separate fee to redeem your points or even to ship your merchandise earned by your new credit card reward program. The card you choose just may be a washout when you find that the rewards in your credit card reward program are cancelled out by the amount of fees charged.

After asking yourself all these questions as you research credit card reward programs that may be best for you, lets return to the very first and most important caution flags we raised: to maximize your benefits while minimizing the cost, use your rewards credit card frequently, but be certain to spend only what you can afford to pay off every month. With that kind of consumer awareness, your credit card reward program will truly be rewarding, and not a pitfall into deeper debt.

Having provided you with the basic principles regarding credit card reward programs, It might be a good idea now to just run through a number of random recommendations for getting the best value out of credit card reward programs. The first thing is to consider the fact that rewards don’t just happen – you have to make them happen. To make the most of your credit card reward program you’ve got to play a proactive role in the process. It’s a lot like clipping coupons. There’s a personal time investment in the process. You first have to search for and find the coupons, check out their expiration dates, and clip them before you can redeem them. Time is money, so there’s a hidden cost here. The same with credit card reward programs. You’ve got to learn the rules laid out by the credit card reward program – like when they expire and if there are any strings attached. You’ve got to stay on top of it – and ask yourself, “Is it worth it?”

There are a couple of things you can do to simplify the process of using your credit card reward program. One is to pick a reward card that offers something you really will use. Advisers suggest that the best deal would be selecting a credit card reward program with a retailer where you routinely shop and then choose gift cards as your reward – it really is a great deal. It generally takes fewer point to accumulate the reward – and you actually come out ahead – with more cash value than the points are generally worth.

There’s another thing to keep in mind, especially if you are a donor to your favorite charity. Analyzing the per-point value of your reward, charitable donations are the most reliably valuable reward you can get from your credit card reward program. There is, however, one catch: you can’t take the deduction on your income tax return (the credit card company is the actual donor). To get around this, take the reward in cash, and write a check yourself.

Another way to enhance your point accumulation through your credit card reward programs – watch for special point promotions. Some credit card reward programs occasionally offer double or triple points. Take advantage of them – but you must be pro-active in seeking them out on your issuer’s web site or credit-card statement.

Keep in mind also that as a result of the fees assessed for just one missed monthly payment, you can negate months worth of rewards from your credit card reward program. And while we’re conducting a reality check, don’t forget that credit card reward programs that offer frequent flier miles also limit the seats available per flight for rewards recipients and they also have blackout dates. Also, that merchandise reward you received (e-book, camera or notebook) worth $300 may have actually cost you $400 in points. So try to avoid these credit card reward program pitfalls.

Some credit card reward programs advertise low minimum reward levels that may seem attractive, but after the first year, they raise the level – information that generally is hidden in small print in the initial offer.

To conclude this primer on credit card reward programs, let’s sum up the basics. The simplest credit card reward programs are those that offer cash-back cards, which rebate a portion of the purchases you make. Also, exercising your option to use credit card reward programs requires time and energy to prevent extra fees and the expiration of points. You have to be a pro-active user. And shop around to select the credit card reward program that best suits your lifestyle. Financial advisors caution that studies have shown that credit card users with reward programs spend twice as much as credit users without credit card reward programs. Consider that a warning to be wary of increasing your debt level. On the contrary, credit card reward programs are best suited towards those who don’t carry a balance.

So as you shop for your tailor-made credit card rewards program read the small print in the issuer’s offer and exercise the discipline required as you reap the rewards you’ve earned.

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