How Worthy Are Credit Card Rewards?
No doubt, credit card rewards come with a lot of hassle. For some people this is an off-putting factor while others think that hassle is the price they have to pay to be able to travel or earn discounts. Some families completely count on reward points and miles to make their travel possible while other think that credit card rewards are costly. However, not everyone loves to travel, so it is better to decide beforehand whether credit card rewards are worthy for you.
Here is a list that can help you decide if credit card rewards can be worthy for you:
Credit card rewards can be worth the hassle if:
- You are a frequent traveller and love to travel more
- You can take days off work to go on a vacation once or twice a year
- You know exactly how to organize yourself to keep eye on credit card deadlines and rewards details
- You can repay your credit card in full every month
- Your travel schedule and dates are flexible
- You can take out some time to sort out how to redeem your credit card rewards
- You can spend the required minimum amount with your credit card to earn rewards points and miles
- Your credit score is excellent
- You are not in any type of debt, including credit card debt
- You know how to sort out misleading rewards offers that may come with some credit cards
Credit card rewards may not be worth all the associated hassle if:
- You are not a frequent traveller
- You are unable to take time off work to go on vacations
- You are not organized and can’t keep track of all the details and deadlines of credit card rewards
- You were unable to make timely payments on your credit card in the past
- You are unable to make timely repayments on your credit cards at present
- Your credit score is not so good
- You are in debt
- You can’t meet the minimum spending thresholds of rewards credit cards
Remember, when shopping for rewards credit cards, you should make judicious decisions. You should known whether you seriously need rewards credit cards, and whether you can take benefit of credit card rewards. The points listed above would help you to make a good decision.