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The excuse I often hear from people if they're not using a rewards credit card is that they don't like the annual fees or they don't want to pay annual fees. But what they are unaware of is there's actually a lot of reward credit cards out there that come with no annual fees and some of them are actually really really good! For example take a look at our Ultimate No Fee Travel Rewards Credit Card portfolio, cards in here have returns of over 2%! That's pretty amazing considering a lot of cards fee or no fee can't earn over 2%.
Another argument comes from the merchants. They complain that credit cards are expensive and cost them money. However study after study shows people who come in and spend with a credit card actually spend more than those paying with cash. Especially those who have premium cards, premium card typically mean higher income and more disposal spending power. In the long run it tends to be the credit card consumers who make more money for the merchants than those paying cash.
All right that intro may have been a little long-winded and we should go back to original question: Why aren't you using a rewards credit card? There are only two types of people who should not be using a rewards credit card:
If you don't fit into the persona of the two types of people above there's no reason why you shouldn't have a rewards credit card. It doesn't matter if it is travel rewards, cash back, retail rewards or whatever. Just don't get cards that don't offer you anything for using the card. Why would you do that? You can get cards that have fees or no fees that will reward you no matter what. Switch right now and get one that gives you something! Even a half percent return is better than 0!
There you have it, now why aren't you using a reward earning credit card?
Resources on Rewards Canada to help you pick a rewards credit card:
Talk to us!Do you not use credit cards or use ones that offer no rewards? Tell us why! Or do you agree and cringe when you see people paying with cash or using a non-rewards credit card? Tell us in the comments section below or join the conversation on Facebook and Twitter!
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