If you think you might be missing out on credit cards that offer big rewards, think again.
The big, premium cards promise fantastic rewards: Uber rides, $1,000 welcome bonuses, travel and hotel credits, airport lounge access.
But it isn't free and it isn't easy.
American Express Platinum charges an $895 fee per year. JPMorganChase's Sapphire Reserve card is $795, according to The Wall Street Journal. There are cards even more premium than that: The Amex Centurion has a $5,000 annual fee.
To make sure you get all the rewards you can, you'll have to spend a lot of money and some real time and effort.
It takes 5 to 20 hours of research up front to compare cards and design a strategy. Check out The Points Guy or NerdWallet online.
After you decide, and get approved, you have to stay on top of the game. According to Kiplinger.com, about 40 percent of perks go unused. That may be because it can take at least three hours and up to five hours to really get maximum benefits from a number of cards.
Nick Maggiulli at dollars and data argues it is a waste of time for everyone but hobbyists/enthusiasts.
One way to take advantage of rewards cards is to find just one card with perks you will actually use with little effort. If you shop on Amazon a lot, use the Chase Prime cards for automatic rewards at checkout. If you travel constantly, the research to find a good match for travel points might also be worth it.
