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Originally Posted by sarah
I am curious though about reward cards? I love to travel and the possibility of a free airline ticket sounds wonderful. How do these work. What are the disadvantages of these kinds of cards.
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If you pay off your credit card bill every month, reward cards are like free money. I buy absolutely everything on my credit card, but then I know I will pay it off in full every month no matter what. For every dollar spent, I get a mile from the airline credited to my account. Every purchase adds more miles to your account.
My card supposedly has a $50 a year fee, but I have never paid it. Whenever the bill comes with the fee added, I just call and say that I have been a customer for a long time and can use other cards with no fees if they insist on charging me. They have waived the fee every time so far.
There are so many out there now (airline, gas, car, charity, mortgage reduction, cash back, etc) that you can get a reward card for anything you want. They are well worth having if you do pay off the bill every month.