Since you probably already use a credit card for pretty much everything you buy, it just makes more sense to use a credit card that will reward you for using it. But since rewards can vary so much from company to company, it is good to make sure that you are getting the kind of bonuses and rewards that will be most beneficial in the long run. For instance you might have a reward card that offers frequent flier miles, but if you only fly once or twice a year, you would be better off with a different kind of credit card.
Here are 5 types of rewards credit cards, so you can see which one is right for you.
1. The Cash Rebate Card
This is probably the most common type of rewards card. From the purchases you make you will get cash back into your account. Usually this is in the form of a check but often can be applied to your balance if you have one. Now with the cash back rewards credit cards you just want to see what the percentage will be. Some go as high as 5%, but often this rate will decrease over time, so you want to see how high the rate is and how long it will last.