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Credit Card Issuers Ramp Up Rewards For The Holidays

The holiday season is once again upon us, 2011 style, and that means the wheels of commerce will be spinning. To grease the wheels our friends in the credit card industry stand ready to help us by offering the latest and greatest deals available.

credit cardsWhat they are really hoping to do is win back some of their business that they lost to debit cards. And how do they plan on doing this? By offering rewards. Without question, credit card rewards programs have proven to be winners for the credit card issuers.

Knowing how the average consumer is more or less enamored with the thought of being given rewards, card providers will now use that information to their advantage by ramping up their efforts to offer ever more attractive rewards.

What are the two most sought after types of credit card rewards you ask? Well if you guessed cash back and travel, which I’m sure most of you did, you’d be right. Getting money back, and/or a cash rebate on purchases is always a winner.

Airline miles have always been, and will continue to be, a staple as well. Folks love to earn free air miles that they can redeem how ever they see fit. Just be careful when it comes to restrictions and blackout dates. Always fully understand the terms and conditions so you know exactly what the various programs offer.

By and large the cardholders that are in a position to pay in full their bills each and every month are the ones that will benefit the most. Any money saved through cash rebates or bonus air miles gained will be negated if you’re paying out a lot of interest.

As always we urge you to read the fine print carefully. There is no shortage of cash back credit cards or airline credit cards as long as you meet the credit requirements for the various cards. And yes, providers have become more selective as far as who they will issue cards to.

Keep an on fees as well. Annual fees, cash advance fees and penalty fees are the big three. They can get quite pricey. If you are interested in travel rewards then you should know that cards specifically designed to offer air miles almost always charge higher annual fees.

And finally, keep an eye on the interest rates. Offering a low introductory rate, or even 0% APR, is a common practice to lure in new customers. It sounds great, especially if you are transferring a high interest rate balance from another card, but teaser rates don’t last forever.

In short, choosing a credit card is an important decision that should not be entered into lightly. Like all other important decisions in life you should do your homework. As long as you qualify, you will have no shortage of quality choices.

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