Consumer Payment Card News

Credit Card Rewards: The Bottom Line

After a few years of really slow credit card usage, banks are back vigorously competing for a place in your wallet. The market is full of cards from big issuers offering big rewards. Historically, the current programs offered are significantly better than five years ago. Hoops to jump through, red tape and other limitations are quickly leaving the credit card market. Finally, you can earn some actual cash and cash-in points for a real (hopefully convenient) flight or a decent (hopefully great) hotel.

However, when it comes to credit card rewards the bottom line is and always has been: think short-term. Bank credit card issuers can change the rules at any time and in some cases cancel your hard earned rewards due to an error from your end, e.g. late payment, exceeding credit limit, etc. Also, keep in mind that point redemption limits can change.

Some advice: Definitely use your rewards credit card(s) and totally take advantage of everything offered but know when to fold ’em and know when to cash out.
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