Find the best credit card offers online.
Reward credit card offers could be confusing for many of us. But with a little practice and patience one can easily gather the information and get all the rewards and benefits from the card.
The primary thing to do would be to understand how these cards work. The benefits that are offered and how they translate into points and then how these points can be redeemed. There are three categories with the reward credit cards such as:
- Airline/hotel rewards
- Cash back cards
- Generic miles as well as points
Each of these subsets has different benefits as well as drawbacks. Each of these have a particular utility which would be best suited for a particular purpose, if used appropriately by the proper type of consumer. These benefits could be availed without too much effort. If these rewards are not utilized properly, then the opportunity would be wasted and the rewards will be in theory only and not in practice.
Airline/hotel cards
These cards are basically travel reward cards that have a tie-up with a particular hotel chain or airline. With the usage of this card customers can earn air miles as well as points which could be redeemed for hotel stays or free flights, preferred treatment, upgrades, access to airport lounge, etc. However, issuers are at liberty to change any of these reward options without any prior notice. This could be a major setback for card holders. If this happens, then all the points that are accumulated decrease in value. In order to avoid this, card holders should redeem points on a frequent basis.
The drawbacks with these cards are that they lack the flexibility as the rewards can be redeemed only with the hotel chain or the airline that is tied to these cards. To avail the benefits consumers will have to rack up around 30,000 air miles with the particular airline or at least 20 nights of stay at the particular hotel or the hotel chain (per year).
Cash back cards:
These are very versatile cards and come with minimum risk. The cash could be used anywhere anytime. Card companies send the checks or credit the amount to the card holder’s account.
Generic travel rewards:
These cards are better than the airline or hotel cards as the users are free to accumulate points that can be redeemed within the travel category. Devaluation is still a drawback here too as the rewards earned are in miles as well as points.
