Do you like to travel or dine out? You probably do some grocery shopping and put gas in your car on occasion. Would you like to be rewarded for making these everyday purchases?
If you pay your credit card balance each month and have good or excellent credit, then a rewards credit card may be right for you.
But, is it worth it?
Well, if you use it wisely, it certainly can be.
First, get a card that mirrors your spending habits. If you spend most of your money on groceries or gas, get a card that rewards you for those types of purchases. If you like to travel, look for card that lets you earn points for purchasing airline tickets, reserving hotels or rental cars.
Make sure you understand the terms and conditions of your card. Knowing details such as annual fees, how points are earned, when points can be redeemed and if there are caps or limits on the points you can earn can help you get the most out of your rewards card.
As with any credit card, don’t spend more than you can afford. Reward cards often have higher interest rates than regular cards. Racking up purchases just to get 1 percent cash back but not paying off your balance each month may cancel out any rewards you may have earned.
If you think a rewards credit card is right for you, Hillcrest Bank now offers a variety of personal and small business rewards credit cards depending on your needs. Whether you want rewards points, cash back or an extended introductory offer, we have a card that’s right for you. Plus, we offer tools to help you spend wisely and keep your budget on track.