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The credit card has become an essential need for everyone. When you don’t have enough cash in your pocket, you find the only option to purchase your items with the help of a credit card. When you shop for a credit card, you should take out one that is beneficial to you and offers you with cash back rebate or reward points in exchange for using the credit card.

 

Rebate and reward cards – What you should know

 

Read on to know about some features of reward and rebate credit cards.

 

Fees for the card

There are both reward and rebate credit cards available in the market for which you do not have to pay any annual fees. You should look for this feature when you want to take out a reward or rebate credit card. If there is any fee, then it reduces the value of the reward and rebate present in the credit card.

 

Keeping track

The points and miles in a credit card expire if you do not use your rewards in time. As such, the value of the deal may get reduced if the cardholder doesn’t check the rewards in time. Late payments also lead to a penalty of rewards and paying an extra fine. In order to redeem your reward points, you may have to submit a request. Such a card may help you avoid falling into credit card debt as you can redeem the points for cash discounts when buying items.

 

Checking the numerous rewards

Reward credit cards offer you rewards only at a certain level. If you get a reward on such an item which is of no interest to you, then the card may be of no value to you. But, when you get cash as a reward, you do not face any problem. You can buy whatever you want with the cash.

 

Cash rewards vs. other rewards

The reward and rebate credit cards both give exclusions on certain items. There are some stores, shopping in which, you may not get the rewards or rebates.

 

Tips to use reward and rebate credit cards

 

Here are some tips on how to use reward and rebate credit cards to your benefit.

 

Treat your rebate credit card like cash – You can treat your rebate credit card or reward credit card just like cash. You should deduct the money when you need to purchase any item with such a credit card.

 

Keep a record of every transaction – You should keep a record of every transaction that you make with your reward or rebate credit cards.

 

The card issuers provide credit card rewards and rebates for the card holders so that they can enjoy the facilities of reduction on purchasing with a credit card. By enjoying such benefits, you may be able to remain debt free.