Are you afraid that using a rewards credit card will result in you going into debt? Here's how to earn rewards the right way.

Opening a new credit card account could make sense if you're hoping to take advantage of new credit card offers or your old rewards card simply doesn't cut it anymore. There are a few things to keep in mind when opening new credit cards and closing down old accounts. For instance, consider:

As a new cardholder, you can snag huge sign-up bonuses, Kelly says — essentially free money available only as a one-time points boost. Given this, it’s generally better to get a new card than it is to upgrade your existing ones, Kelly says. “And as long as you pay on time and keep your balances low, your credit score goes up.”

Don't rush to cash out your credit card rewards for a statement credit or cash payment. See another redemption option that may yield more value.

Some rewards credit cards give you a limited time to redeem points. If you don't use them within a certain period, you lose them. Rewards cards issuers may wipe out your rewards if you cancel your account, rather than providing you some value for them in the form of a refund.

To maximize rewards, know the minimum redemption thresholds and fees. Stay informed about your issuer’s updates, understand point values, and utilize accelerated reward categories to enhance your benefits effectively.

Yes, credit card rewards can be enticing, but using them wisely is key. Learn how to avoid common pitfalls and maximize your benefits.

The top five states for worst credit card debt were as follows: Mississippi, Georgia, Louisiana, Alabama and Texas.

Given the potentially massive expense associated with college tuition, it’s understandable that students and parents want to squeeze every possible benefit out of their payments. Paying for college tuition with a credit card to earn rewards — or to earn a welcome bonus with a sizable spending requirement — is one such strategy that comes up frequently.

Many credit cards charge interest rates of 20% or higher. Check out the best strategies to follow and never pay interest on your credit card.