New to reward programs? Be careful
Thursday June 5, 2008
Reward programs are potentially very profitable, but you have to be able to control your spending to avoid their nastier aspects. Most credit cards with reward programs have extremely high interest rates, meaning that overspending is exceptionally costly. Most people don't focus much on choosing reward programs either, but there isn't much point to paying extra for reward programs if you don't use the benefits. When choosing a credit card, you need to ask yourself whether its features will have you spending more or if you can remain in control. If you are unsure of your ability to remain within a budget, then you may want to reconsider credit cards with reward programs.
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