Approximately 85% of American households have at least one rewards card. In its new survey of 83 credit cards, Consumer Action found that 62 cards offered rewards of one sort or another. Many people make many everyday purchases using rewards cards. They seek to earn a solid return, such as 1% or 2% cash back. But rewards cards can have higher interest rates than regular credit cards; so carrying a balance may quickly outweigh your reward. Moreover, if you pay late, you may lose the rewards you earned in the current billing cycle.