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Are the rewards credit cards in your wallet meeting your needs? 

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Credit cards make for an easy way to pay for purchases. And if you have the right credit cards in your wallet, you can also use them to earn rewards when you spend money. However, not every rewards credit card is a good fit for everyone. It’s essential to choose credit cards that meet your needs to maximize the value you get from them. Keep reading to find out how to ensure your rewards credit cards are worth it.

How you spend your money matters

When choosing a credit card, you should consider your usual spending habits. If you typically use credit cards to buy groceries and household essentials and hardly dine out, it likely doesn’t make sense to use dining rewards credit cards.

Look for a credit card that will reward you for the spending you already do to maximize your rewards potential. If the current cards in your wallet aren’t rewarding you for your everyday purchases, it may be time to explore other credit cards.

Decide what rewards you want to earn

You also want to ensure that your rewards credit card offers the type of rewards you want. Otherwise, your rewards may go to waste. Do you prefer a simple, stress-free, cash back rewards approach? Cash back credit cards may be best for you.

But a travel credit card may be better if you want to earn points or miles that you can redeem for free travel. A worthwhile rewards credit card offers rewards you will use. If you’re new to earning credit card rewards, you might consider a card with flexible redemption options.

Make sure the benefits are worthwhile

Some rewards credit cards are jam-packed with benefits, while others offer fewer perks. But even if your cards come with many perks, they’re only valuable if you use them. For example, someone who flies often may use airport lounge benefits. But if you’re not a traveler, this perk may be a waste. That’s why choosing a credit card with benefits that matter to you is essential. Review your current credit cards and ensure you’re using the perks offered.

Don’t forget to research fees

It’s best to consider the cost of using a rewards card. If it has a hefty annual fee, will you get enough value from the card to make it worth it? Charging what you can afford and paying the entire balance is an excellent way to avoid paying costly interest charges. But being aware of all potential fees, including the interest rate and annual fee, is essential and can help determine if a particular card is worth the investment.

The right rewards credit card can improve your life

Having the right rewards credit card in your wallet can improve your life. But make sure you’re using credit cards that fit your lifestyle and goals. Many rewards credit card options are available if your current cards aren’t meeting your needs. Explore our list of the best rewards credit cards to find a card that is a good fit for you.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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