Q:

How do you discover card reward programs?

A:

Quick Answer

Financial consumers can learn about reward card programs by reading online reviews at websites such as Kiplinger, which features six reward credit cards as of 2015. The credit cards on the list are associated with Visa, MasterCard and American Express, and consumers earn points for various purchases, as Kiplinger explains.

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Full Answer

Many different types of reward card programs feature benefits such as cash back on certain goods purchased with the card and travel discounts. Travel credit card programs reward points for using the card for air travel, hotel stays and car rental services, and cards offered by retailers give consumers a percentage of cash back on many items, according to Bank of America. Additionally, some rewards programs let consumers spend points on acquiring gift cards. Consumers are able to choose card reward programs that fit best with a certain lifestyle. For example, gas cards with redeemable points are a good choice for people who drive frequently, while cards that save money on groceries are ideal for families.

Consumers need to research several reward cards and consider how many points are earned for each dollar spent, notes Bank of America. Consumers also need to be mindful of expiration dates for redeemable points, high interest rates, hidden fees and late payment penalties.

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