Rewards Cards: Convert Your Current Card

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If you are a current credit card holder MasterCard or Visa — you may be overlooking an important way to make your card work even better for you: by joining a rewards program. Why possess a plain old credit card when you get rewarded for using the same card? Lets take a look at how you can receive benefits from your current card.

Some cards are offering rewards based on your purchases. Depending on the card selected, your rewards card can offer to you a variety of benefits such as:

1.Cash back. Receive 1% or 2% back on all purchases. Usually not redeemable for cash until your balance reaches a certain amount, such as $20. Some card plans allow for you to use the cash back as a credit toward future balances and/or purchases.

2.Airline miles. Some cards have tie ins to one particular airline while other cards allow for you to accrue miles that can be used for mostly any carrier. Similar plans include cards that allow you to accumulate free stays at select hotel chains.

3.Car purchase. One prominent automaker allows for card holders to receive as much as 5% credit toward a future purchase of a new vehicle one of their models,...

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