How to Choose the Best Rewards Credit Card

Read the Fine Print

I know that you have heard this a million times but how many of you out there have actually read the fine print of your current credit card. The answer is very few. Reading the fine print on a credit card offer can save you money and headaches further down the track. So when choosing your next rewards credit card be sure to scroll through the fine print and examine all the pertinent facts before signing up.

How Much is the Annual Fee?

Some credit card providers will charge as much as $90 for an annual fee. Especially with frequent flyer membership programs. If it took you three years to save up for a free flight then that would equate to $270 in annual fee charges. With this amount you could pay for a discount airfare within Australia. So the moral of the story is to check out the annual fee and see if it is worth the benefits you will received from your rewards program.

When Do Your Points Expire?

With this topic we can revert back to the first point....Read the fine print. Find out when your points will expire. There have been many cases where Australians have been working hard to save up their rewards points only to find that they have expired by the time they have gone to redeem them. So once again read the fine print and be sure to understand the fundamentals of the credit card providers reward program.

Does Your Reward Card Have a Cap?

A rewards program cap means that credit card providers can sometimes place a limit on the amount rewards you can earn in a one year period. Be sure to find out if a rewards credit card places a cap on points and find out what that cap is.

There you have it a few quick tips in deciding what rewards credit card to choose.