The Real Deal on Credit Card Rebates and Rewards (cont.)
Contributed by Caryn e Zent
Rebate credit cards: what are they good for?
Did you know there is actually a Toys-R-Us Visa? No way! Way! Unless you just love shopping there for the Silly Putty, it doesn't make much sense for someone who does not buy for children to carry this card. Make sure your reward card is truly a reward for you. There are specific cards that earn points toward entertainment, such as Disneyland or Universal. Again, is that what you want?
There are many miles rewards cards that allow you to trade in your miles for something other than airline tickets, but check out this possibility first and see if it's even close to an even trade. With Diner's Club, for example, you can design your own reward if you rack up enough points. MBNA offers a card that benefits your IRA or other retirement account.
Check it out
There are several resources for comparing and applying for reward or rebate cards. Try moneycentral.msn.com, comparecc.com, www.creditcards.com. Most sites also offer secure applications once you find the card that's right for you. If you are looking for the greatest flexibility, a cash-back card is your best bet.
