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If you have excellent credit, you’re probably getting a lot of offers for new credit cards these days, and even if you’re in the market for one, it can be hard to figure out what kind of offer is best for you.

The types of credit cards being offered to people who have top-notch credit ratings these days are very generous, and typically come with high rewards and relatively low interest rates as lenders increase their competition for the most creditworthy borrowers. And that basically means that you’ll be in a great position to start earning a significant number of rewards benefits even while keeping your balances relatively low.

Of course, if you qualify for these generous offers, you probably have great borrowing habits anyway. Therefore, adding better benefits would likely just help reduce the costs you face when dealing with your debt, particularly if you opt for cash back rewards rather than those that grant you rewards points which can be redeemed for products, or airline miles.

When looking into what type of rewards program works best for you, it’s important to weigh your current credit card spending habits. What do you buy with it? If it’s mainly essentials like groceries and gasoline, there are now a number of cards that will grant you more points for those purchases than for others. But if you use your card to finance your travel arrangements, choosing one that gives you bonus miles for doing so might be a better idea.

Another good idea when you’re looking for a beneficial rewards credit card is to keep things simple. Accepting a number of cards will likely just spread out your spending across a number of accounts, perhaps limiting what you earn back if you’re not careful, and certainly taking a small bite out of your otherwise sterling credit rating. Lenders typically view consumers opening a number of lines of credit within a short period of time to be a sign of financial distress.

And when handling these new credit card accounts, it’s always important to pay back as much as you can every month to maximize the amount you earn back and keep your debt levels manageable. There’s no reason such a card should lower your strong credit rating.

[Credit Cards: Research and compare rewards credit cards at Credit.com.]

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  • http://thecreditdude.net/ Chuck

    Your right on here. Using a credit card is like taking out a loan every time you swipe it. Nothing builds credit better. Take discipline however!

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