Credit card reward programs are great if you are looking to get a little cash back from all your spending. But consumers should be wary of the penalties of overspending when trying to earn rewards.

From a recent online poll, a majority of consumers claimed to not care about what APR rate they were paying on their reward cards. They majority claimed they paid off their balance in full each month, so the APR did not matter to them. This can be risky for folks who are struggling to make nthose monthly payments. Miss a payment and watch your APR soar, not to mention the interest penalty you now have to pay.

One consumer stated they tried to put their new car purchase on their credit card just to earn the reward points. Imagine if they had trouble payig that one off. The interest penalties alone would make it hard to keep up.

Some credit card companies offer online programs to auto-pay your bill each month. For those of you playing the reward card game, I would recommend looking into setting up such a service so you don't have to worry about missing a payment, or getting hit with high interest penalties.

In regards to what reward programs are best. The majority of consumers polled preferred the cash back reward programs over any other. The most popular reason being you can use the cash for whatever you want, instead of being limited to redeeming rewards for an airline ticket, or a hotel stay. With cash back, you can buy an airline ticket whenever you like, or book a hotel when ever you like. No black out dates to worry about since you are paying cash. You could also apply your rewards to your balance. Another smart use for them.

Credit card reward programs are great if you just remember to keep on top of your monthly balance. The card companies didn't create the programs to help make you rich, they are hoping you rack up that big balance and let it slide a few months so they can earn back those rewards and more from your pocket.

Modern society in USA is fast becoming a cashless one and the Credit cards are playing a major role in it. Almost everyone today, has a credit card or is in the process of getting one. However, there are silly mistakes that many people make when they try to get a credit card. Here are few important ones, make sure you don't follow the same path.

Act in haste repent in leisure. Nothing is more true in case of credit cards, setting deadlines for getting that credit card into your pocket will only make you ignore important terms and fees, which will help you repent in leisure.

Knowing beforehand how you want your credit card to work? What rewards should it give? What purpose should it solve will always act in your favor. Ignoring this fact will only lead to confusion that can make you choose a wrong credit card.

Going by the looks, style and jazziness of credit card design and ignoring the important features of credit card altogether, will only cause problems later on.

By not comparing various offers that meet your criteria, you might be missing on the right offer.

Applying for a credit card which does not meet your credit history requirements can get you a denial or an offer that whose fees and interest rates pinch very much.

Getting too many pre-approved credit card offers in your mailbox doesn't mean that you should have all of them. The rule is keep the only minimum number of credit cards with you. Get rid of the rest. Too many credit cards is a principal reason for people falling into credit card debt.