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.
