1) Which reward card is best? Generally, hotel cards give the most reward points. They are a great deal if you travel and use hotels.

2) Are rewards cards the best way to go? Yes, if you do not carry a balance. These credit cards have high interest rates. If you carry large balances, you would be better off with a low interest card that does not give rewards. According to Mira Marshall, an FDIC Section Chief on consumer affairs, if you spend more than you would with different card, your "free" rewards may cost more than you realize.

3) Can I really get 3-5% cash back on things like gas and groceries? Yes, some cash back cards give these offers.

4) Can I get 0% on balance transfers? Yes, for up to 15 months, depending on which card you choose. This is a great way to eliminate your interest while you pay down your credit card bills. However, you will have to pay a one-time balance transfer fee of 3-5%.

5) How can I raise my credit score? The quickest way to raise your score is to lower your credit card balances. Your credit score begins to lower when your balance exceeds 9% of your credit limit. Most experts recommend that you do not exceed balances over 20-30% of your credit limit.