credit cards

6 ways to spoil your cash-back rewards

Picking the wrong credit card
Picking the wrong credit card © Temych/

If you earn cash back for traveling, you'd better not be a homebody. Or, if you use your credit card in all types of stores, don't sign up for a credit card that gives extra earnings for specific purchases only.

In both cases, you're not getting the most from your spending. There might be a card that better fits your habits.

"Understand how you spend, and then select a rewards card," says Bill McCracken, CEO of Synergistics Research, a financial services market research firm in Atlanta.

Some cards offer the same rewards potential for every purchase, while others offer accelerated earnings for certain categories.

The most common accelerated cash-back category is gas, followed by supermarkets/groceries and dining/restaurants, according to Bankrate's 2013 Credit Card Cash-Back Rewards Survey. But there are other, less common categories that may be better suited for your spending habits, such as utilities, parking and drugstores.


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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Balance Transfer Cards 16.37% --0.00 16.37%
Cash Back Cards 16.70% --0.00 16.70%
Low Interest Cards 12.02% --0.00 12.02%

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