Money | Debts | Financial Freedom

Let Your Dream Come True With Reward Credit Cards

I am so excited to pronounce that I am going on a Caribbean cruise and going to stay in a suite. In a few days my wife and I are going to wake up in the morning and step out on to our private balcony to enjoy the view on the blue ocean. I must say we are not amongst the richest people and I’m quite the penny pincher so how can we afford a suite made for the rich and why do I agree to pay for it? It’s simple, our rewards credit card is making it all possible.

I’m astonished at how many people are not aware of rewards credit cards and how many people are aware but don’t take advantage of them. The cards work very simple, you receive a certain amount of points for every dollar you spend with the credit card. Once you have collected enough points, you are able to buy goods with the points.

Some rewards cards are specifically made for a specific type of reward. There are cards that will earn you airline miles, discount on gas or rebates towards the purchase of a new car. Others cards allow you to purchase anything in the company’s catalog.

Don’t forget that one point is not worth one dollar of buying power. A $50 gift card is going to cost you far more than 50 rewards points. For a gift card of $50 in one of my rewards catalogs I would have to pay 5,000 points!

Not a very good deal, right? Well, not really but it’s a great deal if you think about it a little differently. You would use your credit card with or without the rewards points, right? Any points you earn for living your normal life is a very good deal.

Like all credit cards, you have to shop around. Some have annual fees while others don’t. Some pay you double points for certain purchases while others pay you a set amount of points for everything. The rules and regulations for your points are different with the different cards. Don’t dismiss the cards with annual fees. As with most things, you get what you pay for,

There is only one little disadvantage. Although rewards credit cards are a efficient way to save money, if you fail to pay your credit card bill in full each month, the interest you’re paying is canceling the financial benefits you would gain. Even if paying interest, it still pays to have a rewards credit card. Your rewards are simply paying a small portion of your interest.

How many rewards points did it cost me to pay as much as 60% of my luxury cruise? Here is a hint: It took me a couple of years to collect the points and if I had that amount of rewards points in real dollars, I could perhaps consider myself as rich. If you follow a few key strategies, you will be surprised how quick you can collect points. I’ll tell you more details about the strategies in another article.

This is my first cruise and my friends are probably bored of hearing me talk about it. Nothing in world tastes better than a free dinner. In fact, the vacation is costing me very little and it is a penny pincher’s dream that come true. If anybody says that a rewards credit card is worthless and a waste of time or the annual fee, send them to me. I’ll tell them about the great cruise.

Compare the best cash back credit cards and then apply online. If you spend a lot on gas, you might want to consider gas rebate credit cards.

categories: credit cards, credit, finance, financial, cash back, cash, money, consumer, business, credit card, cashback, reward, rewards

Related Blogs

• maximum savings account amount | Bank Of America Info
• Futures Trading Blog » Annual Gift Tax Exclusion Amount for 2009, 2010
• What medical career requires the least amount of college years …

Related posts:

1. Capital One Credit Cards – Customer Friendly Rewards That Work
2. 3 Things You Have to Check When Choosing a Cash Back Credit Card
3. Cash Back Business Credit Cards
4. How To Choose Cash Back Credit Cards
5. Novelty Credit Cards – Worth Having Or Just A Novelty
6. Different Chase Cards for Different Customers
7. Credit Cards Are Good.True?
8. What To Consider When Choosing An Airline Miles Credit Card