Reward Summit tracks your credit card reward programs so you don't have to

Reward Summit is a new finance app that has one goal in mind -- help you save money by using the right credit card when you make a purchase. The app tracks your credit card reward programs and tells you which card will save you the most money when you buy that big-screen TV.

Reward Summit only works if you add your credit cards to the app. A thoughtfully designed UI makes it easy to securely and privately add your cards and their reward programs to the app. You don't have to add any personal details or credit card numbers, just the card type (i.e., Capital One Cash Rewards) that you own. If you are not sure what type of card you own, you can search through a list of banks and the major reward programs they offer. You should be able to match the card in your wallet with the card in the app in just a few taps.

When you add your cards to the app, you can save them in the cloud by creating a Reward Summit account. If you want to store the card details only on your phone, you can just click "No Thanks" when prompted to create an account. When your cards are entered into the app, you are ready to go shopping. The app uses your location to find nearby stores, and you can pick the one that you are visiting. This store list is limited, especially in my area, which is quite rural. Once you pick your store, you can dial in the amount that you want to spend and let the app recommend which card you should use. A handy reporting feature allows you to view your lifetime savings as compared to other users. Not surprisingly, this comparison feature requires a Reward Summit account.

Besides finding discounts, Reward Summit is also an informational tool that'll list your cards and the details of their rewards programs. Most people sign up for cards because of their cash rewards, but many people don't realize their cards carry other benefits like roadside service or extended warranties.

The biggest gripe I have with Reward Summit is that it subtly pushes you to sign up for credit cards that you don't own. If you are making a purchase and your card only offers 1 percent back, the app will show cards that offer 5 percent back. The promotional offer is static and situated in the center of the page. You do have to click the promotion to view the details, but some may find its mere presence annoying.

The opportunity to sign up for a card isn't limited to the buying advice page. Reward Summit also lets you apply for cards when you are browsing the app's catalog of banks and their credit card reward programs. Some people may consider this to be a feature and may appreciate being able to find and apply for a card that offers a sizable reward.

Reward Summit is for people looking to save money by taking advantage of the reward programs offered by their credit cards. It landed today in the iOS App Store today and is available for free.

via TUAW - The Unofficial Apple Weblog

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