Finding these Cards
Picking the best points-bearing credit card often is a difficult decision to make, especially when every issuer offers what seems to be a great deal. However, consumers often can narrow down their choice by closely looking at other features of the card and then deciding if the benefits add anything to their spending habits or lifestyle. For example, cards accumulating points for travel are ridiculous to use if you don’t travel a lot.
Searching around for such cards can be tedious when faced with an assortment of rewards, fees, annual percentage rates, and introductory rates; but the trends seem to show that the vast number of Americans do focus on reward points, usually frequent-flier miles, when choosing their credit cards.
Reading Fine Print
Even when point or reward bearing cards tend to be popular among customers, they often charge fees that are higher and need a higher credit rating than other conventional lines of credits. As more and more Americans are trying to trim down debt and raise their credit, lenders may see a shift in the type of credit cards that customers are looking for.
Things to Consider
For instance, most reward or point cards will offer hotel points/travel, deals with cash back or generic points – according to Fox Business news. Customers might begin weighing the pros against the cons by deciding what types of points are most important to them. Do they travel frequently? Are the airline miles limited to a certain flyer? How are reward points redeemed and are there any restrictions? These are several questions that consumers need to ask themselves prior to making a decision.
Higher Fees and Rates
Points cards also have a tendency to carry higher rates and fees than other types of credit cards. Consumers might profit from looking at their financial situation and deciding whether they are able to actually afford variable interest rates or membership fees. Customers need to read any terms on their credit cards thoroughly to make sure there are no fees hidden or conditions that go together with the product.