When choosing a credit card, rewards programs may influence your decision. If you tend to spend enough to earn significant points and the rewards are things that would be of use to you, than a rewards credit card may be a good option. However, if you aren’t careful and you don’t use your rewards cards wisely, the rewards may be outweighed by high fees and interest.

Taking the following steps can help you get the most out of your rewards cards:

1. Choose cards with rewards relevant to your lifestyle.

There is no point in earning rewards that you won’t actually use (such as earning frequent flyer miles if you rarely travel). Because interest rates and fees are often higher on rewards credit cards than non-rewards cards, it’s important to make sure the reward points you earn can be redeemed for things of value to you.

You should also consider your general spending habits. If you don’t charge enough on your rewards card, you won’t earn those rewards. You’ll still pay the higher interest and fees though.

2. Minimise your number of active cards.

You have to charge a significant amount to your rewards card to earn enough reward points for redemption. If you disperse your charges across too many credit cards, you limit your ability to earn rewards points on any single one of them. If you have several rewards cards because you want to earn towards different types of rewards, consider switching to a card that lets you choose from several redemption options like the Commonwealth Bank Awards credit card which allows you to apply rewards points to cash back, travel with over 400 airlines, or merchandise from partners.

3. Take advantage of introductory rewards point bonuses.

Many rewards cards offer special introductory rewards rates for the first few months your account is open. Others offer higher reward point rates for the first $50,000 (or other amount) charged to your card during a calendar year, with decreased points for purchases beyond that. Still other banks offer more rewards points when you make purchases with specific partner companies, and less on other purchases.

To maximise your rewards card programs, you should take advantage of these opportunities, and use the card actively during periods (or with retailers) where you may earn more points. For example, if you have a Citibank BP credit card, which offers 5% cash back on BP purchases and only .5% cash back on other purchases, it would be smart to use that card when you’re purchasing petrol or anything else from BP.

You can get more out of your rewards cards with some basic planning to choose a card that fits your lifestyle, interests, and spending habits. If you’re going to make the credit card purchases anyway, why not benefit from them with extra rewards?