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It should come as no surprise that credit card accounts play a vital role in the financial stability of the average American. When it comes down to it, most people have a credit card or two in their wallet or pocket book. However, many consumers have heard of another credit card type that they might want to take advantage of, rewards credit card accounts. Because of an amazing amount of competition in the credit card account industry, lenders had to do something that would make their credit card account offers stand out above all others. The best way to do that, they concluded, would be to offer rewards. These programs would allow Americans to earn points with each purchase. These points could be accumulated and later redeemed for great perks like free airfare, car rentals, cash back and even gift cards! The result was an explosive new industry! Now that there are so many types of rewards charge cards out there, consumers who are looking for a new rewards charge card sometimes don't know where to start. Well, here are the steps to comparing rewards credit cards. Step 1: Compare Rewards Credit Card Interest Rates: Interest rates are the primary source of fees associated with credit cards. The lower the A.P.R., the less money that consumers will need to pay when borrowing using their charge cards. Adversely, the higher the interest rate, the higher the amount of money the consumers would need to pay when borrowing using their charge card accounts. Also, it is important to remember that there are a few different types of charge card account annual percentage rates. These types range from standard APRs to cash advance annual percentage rates to balance transfer, promotional and default interest rates. When comparing any type of credit card including rewards charge card accounts, Americans should make sure to read the rates and fees sections of the terms and conditions to understand and compare annual percentage rates. Step 2: Compare Rewards Credit Card Fees: Although interest rates are the primary source of fees associated with credit cards, there are other fees. All credit card accounts have their own sets of fees. These fees can range from annual fees to reverse check fees to reward redemption, balance transfer and foreign transaction fees. When Americans compare rewards credit card account offers, it is important once again to read the rates and fees section of the terms and conditions. Step 3: Compare Rewards Programs: Now that Americans have compared the rates and fees associated with new credit cards, we are down to the fun part. It's time to compare the rewards offered with the charge card accounts. These programs are all different. Some programs have rewards caps and blackout dates and some don't. Some rewards programs call their points points and some call them skymiles. When it comes down to it, each rewards program is different, it is at this point consumers should compare the rewards programs to find the one that they will use the most! I hope that these tips have helped consumers to realize what they are looking for in rewards charge cards. Please feel free to come back and read more of my articles! This article is brought to you by: JEMCreditCards.com: Skymiles Credit Cards Compare Credit Card Offers
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