Q. Will using a rewards credit card hurt my credit score? Rewards credit cards do not affect your credit any differently than other cards. If you use your rewards card responsibly by avoiding debt and making your payments on-time, you will add positive information to your credit report and improve your credit score.
Q. Do reward credit cards have higher interest rates? Yes, you can expect to pay a higher interest rate with a rewards credit card than you would with a similar card that doesn’t offer rewards. That’s why reward cards are best used by those who avoid always interest charges by paying their balance in full.
Q. Can I get a rewards credit card just for the benefits? Certainly. There are rewards credit cards that have very valuable travel and shopping benefits, some of which you can use even when you don’t use your card often. For example, the Sapphire Reserve offers a airport business lounge membership that’s extremely valuable.