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A recent survey found that nearly half of U.S. cardholders enrolled in a credit card rewards program have never redeemed their points. However, 60% of consumers said rewards program influences their decision when deciding which credit card to use for a purchase.
When considering an offer for a card that offers rewards, be sure to read fine print. Find out what you have to do to earn points. Look carefully for any restrictions as to when you can redeem them. Also check to see if your points carry over from one year to next.
Reward programs most benefit those who pay off their balances monthly. For those who carry a balance or even pay late, resulting higher balances and fees aren’t really much of a reward, are they?
© 2005, http://www.yourfreecreditreportnow.com Author: James H. Dimmitt James is editor of “To Your Credit” a FREE weekly newsletter focusing on managing your personal finances and credit. Subscribe and get a FREE copy of your credit report when you visit: http://www.yourfreecreditreportnow.com