Rewards are a small price for the millions if not billions they bring credit card companies in interest.

Like many young adults, you have a credit card. To your parents surprise, you're not yet living in a cardboard box. Nope, you've got a handle on that card. Now get ready for the next level--mastering the art of rewards.

Rewards give credit card holders an incentive to use your credit card. It's simple: the more you charge, the more you get. Why do card companies offer rewards? Most people can't stand the temptations of credit; they end up carrying a balance and paying interest. Rewards are a small price for the millions if not billions they bring credit card companies in interest.

To the weak, a reward is a trap. But to the strong, it's money! So ride that rewards program - just make sure you play smart.

Most rewards fall into three categories: Points, Miles and Cash Back. For each dollar of charged purchases, you earn rewards - often one reward point per net dollar spent. (Tip: The key word here is "net." Don't try buying a car, returning it, and expect to keep the 75,000 reward points.) Then, when you've racked up enough points, you cash them in for merchandise, free travel or cash back.

Got unused reward points? Check out an online exchanges like points.com or frequentflyerdepot. com where you can sell or trade your points, sometimes for cash... which is great for paying credit card bills.

There are tons of creative ways to run more purchases through your card without spending more. Here are a few:

Shop and eat with friends
Pick up the tab (especially at iDine restaurants) with your card and have your friends pay you back.

Charge big expenses to the card
Tuition, car insurance, computer, flights, etc. And don't forget the everyday charges: utility bills, lunch, coffee, etc. It all adds up.

Got a job? relish the expense report
Charge company expenses to your card and get reimbursed. Book a business trip, fill up the company car, or buy office supplies. The key to this process is staying in control.

1. Be savvy--know what's out there. Always ask companies about their reward programs and who their partners are. Airlines usually have extensive partner networks.
2. Don't Spread the wealth. Only use 1or 2 cards - your rewards will stack up faster.
3. Charge your path to rewards: never buy extra stuff to earn points, rewards are bonuses and nothing more.. Instead, change the path your money takes by running all your purchases through your card - instead of using cash, check or debit cards. Then use those checks to pay your balance in full each month. You'll get extra rewards without spending more.