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There are those credit cards which offer you different attractions and promos. And there are those credit cards with rewards. One such credit card is the Bank of America which recently launched the BankAmericard Better Balance Rewards. For every quarter of the year, if you make your payment on time and you pay more than the required minimum payment, you get at least $25 as cash reward. So for the whole year if you get to pay your credit card on time, you earn at least $100. If, on the other hand, you have two accounts with Bank of America, you get an extra $5 which means you get to earn at least $120 a year.Not the Only OneThis is not the first time that a credit card offers such rewards. The Citi Forward Card and the Discover Motiva Card were credit cards with reward programs. The latter offers a cash back bonus of 5% of the monthly interest charges that you incur when you pay on time and you pay more than the required minimum payment while the former cuts back your interest rate by as much as 2% if you don’t extend your credit limit and you pay on time. Unfortunately, these credit cards are not available in the market nowadays – the former is not accessible while the latter is still available on the internet if you look hard enough.And then, there are of course, the Citi Simplicity and the Discover it Card which would still love you even when a mistake is done. The latter would still love you, on the other hand, if your payment is one day delayed but when it goes on a little bit longer, you are toast!Are the Credit Cards Beneficial to Consumers?Of course like any other credit card companies, these mentioned have their share of critics. Some say that the BankAmericard Better Balance Rewards promote irresponsible and reckless behavior while the Discover It Card and the Citi Simplicity gives people reason not to pay on time since there really is no hard punishment when you disobey their credit card laws.Hold on a minute, though. These critics may have a point but for credit cards with rewards such as these ones, when you get reported to the credit card bureaus, there is a punishment involved. When you make a late payment, there is the compound – interest thing you need to worry about. And when you suddenly lose your job and you need to spend on some emergency matters, you need a fallback of some sorts – these credit card offer you these securities and so much more.It’s Not All about Being IrresponsibleGiven such criticisms, it’s really unfair to say that people who carry a balance are irresponsible. Sure there are those who take everything for granted and just pay whenever they have the cash but when they realize their mistake they take charge and just make up for whatever they have lost. Just remember that there is also a different set of people who are struggling with the troubled times and the economy. They are paying off what they need (food and shelter) and paying for whatever their children desires such as shoes. These people shouldn’t be shoed away, just for using their credit card.Remember that there are people here who need lots of help with their credit card and they need to be informed what works and what don’t work. The bottom line is not to be hard on anyone; some still have dark days.How Does your Bank Benefit?So how does all of these benefit bank and credit card companies? For starters, the BankAmericard Better Balance Rewards that allows you to earn at least $5 simply states that you need to open more bank accounts with them. But of course, it’s the prerogative of the consumer whether he’ll follow the lead of Bank of America – so there really is nothing wrong with this move. And when you don’t pay on time, banks earn from the interest rates even when late payment fee is waived.The process indeed works both ways. The banks earn from you and in turn, you get to avail of these credit cards with rewards. It’s that simple.Joy is an active blogger who shares extremely interesting finance management tips over the web that encourages people to manage their personal finances and check 3 credit scores regularly.