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Credit cards with rewards are now the norm, even though they used to be a rarity. Nowadays you can find credit cards with rewards that include cash back, travel miles, discounts, rebates, and much more. When an individual is deciding on a credit card it is best that they look at their own individual spending habits in order to determine which credit cards with rewards program best fits their needs. Why would someone who rarely, if ever, travels want frequent flier miles as their reward? Credit cards with rewards need to be thought of as having benefits that you can tailor to your individual spending tendencies.

Obviously, most of the cards work with the premise of “the more you spend the more rewards you get”. Keep in mind that as good as the reward is, the credit cards with rewards program is only as good as the credit card itself. This means you need to take into account the type of card it is, the limits on the card, the finance rate on the card, and the myriad of other details revolving around the card and not just the rewards program. Why would someone want a 20% annual percentage rate just to get a cash back credit card? Credit cards with rewards are fantastic as long as BOTH the card and the rewards program fit what you are looking to get.

Regardless of the enticement of credit cards with rewards, you should always make sure that you can afford to take on the responsibility. Make sure you have any other credit cards you have paid off and that you don’t have any other forms of high interest debt. It is also wise to use any introductory offers to your best advantage when choosing credit cards with rewards. Do the research to find the best offer before you sign-up for a new card.

This Financial Services article was written by Malcolm Young on 2/13/2009

Malcolm Young is a financial services entrepreneur.