Total Rewords

Right up there with the employer matched 401k are the cash back credit card reword programs.   Credit card companies are giving you cash back rewords for using their cards.  Be it to pay for gas, hotel rooms, airline tickets or online purchases, you can get a percentage of your purchase price back.

Why the rewords programs?

According to some credit card experts, credit card companies have figured out that consumers are more loyal to cards that have reword programs than those without.  On average a customer will hold on to a rewords card about 40% longer than a card without a rewords program attached.

The increased consumer loyalty is very significant, especially if you consider that the cost of acquiring new customers averages about $150.

To prove the popularity of rewords cards, about 2 in 3 consumers now hold at least one reward card, compared to an average of 1 in 6 just 4 years ago.

Cash back cards are the way to go

For most people out there, cash back reword credit cards are the best option.  The reason being is that most people don´t spend enough to take advantage of the airline ticket rewords or even those cards that let you accumulate credit towards the purchase of a new car.

Most credit cards will pay you back about 1% to 5% of your purchases (gas, food and clothing just to give a few examples) with a yearly limit.    For most people the limit is not a problem, since it is very hard for the average consumer to spend enough money to go over those limits.

In the future we will be reviewing some of the best best rewords cards on the market.

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Secrets about credit card reword offers

Do you get a credit card reword offer in the mail every day?  Most of the time you get the same reword offers over and over again?  Why does this happen?  Is there a secret behind these?

Instead of accepting these credit card offers, use a credit card offer comparison site instead.  These sites are not affiliated with any one credit card company, so there is a much better chance that you are getting unbiased information.  Most of these sites provide feature comparisons between major credit cards so that you can chose the right card for you.  You can narrow your credit card choice to a few cards and then do side-by-side comparisons of everything from interest rates, annual fees, late fees, rewords programs, grace periods and so on.

Choosing the right card is a dificult task.  Every person has different needs, and the right card for one person might not be the right card for the next one.  Don´t just accept any credit card offer you get in the mail, make sure its the card that benefits you most.

You can also read about different rewords programs.

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With over 3 million people signing up this year for Coca-Cola’s My Coke Rewords programs one can ask themselves if it really is worth all your time and effort?  Not to mention the risking diabetes if you actually drink all those cokes to get the big reword prizes.

How does the My Coke Rewords program work?  You simply go to MyCokeRewords.com and signs up.  After you sign up, you need to enter the codes from Coca Cola bottle caps, from the flaps, or in the shrink-wrap of many Coca-Cola products.  After you put in your codes, you search My Coke Rewords list of prizes, and redeem your points for prizes.

Sounds simple buy My Coke Rewords has a limit of 10 codes you can submit per day since you are only able to enter a minimum of 30 points to and a maximum of 100 points. My Coke Rewords does this in order to control the speed at which prizes are redeemed.

As far as the prizes, they range from a Game Piece for 3 points, to a case of Coke for 100 points, to a  Coca-Cola Westinghouse Cooler worth 18000 points. Some of the prizes are almost worthless, some are quite nice, while others are just ridiculous! People are stockpiling the codes and hoping to attain the ultimate prizes, but are they attainable? If you do some math, and assumed you signed up on January 2007, and the promo ends December 31, 2007, it gives you 1 year to save up points.  So if you drink 16.5 bottles of coke a day for one year and enter the codes from each drink, then even if you enter the codes every day, assuming you can actually drink that much Coke, then on December 31, you will have a total of just over 18000 points. Now you can redeem that for the big prize.

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My Coke Rewords is a rewords program from the Coca-Cola soft drink company. Costumers enter codes from marked packages of Coca-cola products into the website. These codes are then converted into points which can be redeemed for various prizes or sweepstakes entries.

The My Coke Rewords program was launched in 1996 and later that year had already seen redeemed over one million prizes. The original rewords program was suppose to end in December of 2007, but has been extended until at least 2009.

The program does not allow more than ten entries per day.

You can buy My Coke Rewords on eBay for only a few cents:

[phpbay]my coke rewards, 5[/phpbay]

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Credit card companies offer a variety of rewords for signing up to use their credit cards. Because the industry is so competitive, these rewords can be quite enticing.

When choosing the right credit card for your you, it’s important to think about which type of rewords you will benefit most from. For that reason, I’ve put together a list of the top reword credit card offers:

Gas & Fuel based rewords cards

With rising gas prices, many people are drawn to credit cards that offer rebates on gas and fuel purchases. If you drive a lot, this can be a great reword card for you. Some gas credit cards offer up to 10% cask-back. But there are other things to keep in mind. Many cards only offer cash back on gas, some at just one type of station. All other purchases will get you either nothing or a lower rate. Also, these cards tend to have higher interest rates so you’ll consider paying your balance in full.

Cash Back on purchases

These cards are for big spenders and can get you up 5% to 20% cash back on purchases made at select shops. The limitation of these cards is that the cash back offer is only valid at specific retailers. But if that´s not a problem for you, or if you are already a regular customer of these stores, then you can take advantage of the significant cash back rewords.

Travel and Airline Miles based rewords

If you are a frequent traveler, you may find that bigger bang for the buck comes from airline miles rewords card. Rather than cash-back, you earn miles that can be applied to certain flights (sometimes limited to domestic flights). You can question if the value of the miles earned for travel are as valuable as pure-cash back cards, but the ability to earn bonus miles from your purchases can make these a good credit cards to have if you do a lot of traveling.

Balance Transfer Offers

If you are carrying a balance on another card that carries a high-interest rate, and could use an interest free grace period to try an pay the loan off, then consider taking advantage of a balance transfer offer. The best balance transfer offers around waive the transfer fee, and either offer 12 months interest free on the transfered amount, or offer very low rates with no time limit other than minimum monthly payments. So if you currently carry a balance on a high-rate card, you’ll probably be better of not from a rewords type card, but with a low-interest balance transfer offer.

Interest free offers

If you’re going to be making a big ticket purchase, and want to stretch out the payments for a long period of time, then you might consider interest free offers. While not earning you cash back rewords of any kind, these type of card can save you money on interest.

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