How to get the most from a reward credit card this Christmas

20 December 2013 - Which Way To Pay

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Rewards Credit cards: A guide to getting the most from your spending this Christmas

Would you like to get a reward every time you spend on your credit card this Christmas? If like most people this sounds like you, then you should start to research the reward credit cards available for you. When researching which reward credit card to apply for remember to read all the terms and conditions to avoid any additional fees and charges.

How do reward credit cards reward you?

There are a variety of different reward cards available but usually these types of credit cards allow you to earn points every time you spend on the card. The points can be exchanged for anything of your choosing - shopping vouchers or discounts in retail, petrol or entertainment outlets. Are you a frequent flyer? Some flights allow you to earn air miles to put towards the cost of a flight.

It is important to pay your rewards credit card back in full every month

Watch out for the high interest rates with rewards credit cards. These cards are therefore only really suited to people who are able to pay off their full balance at the end of a month. Bear in mind if you allow yourself to get in debt, you will end up paying more back in interest than you do earning those rewards. This is an important point to remember.

What about if I want to transfer my balance to my rewards credit card?

If you have an existing balance that you need to transfer, a reward credit card is not the best option for you. You will not normally earn points on balance transfers and if you are not able to pay the balance off in full at the end of the month you will incur fees that outweigh the benefits of the rewards. This is an important thing to consider when choosing your credit card this Christmas.

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