Rewards cards viewed as punishment by some small businessowners

While consumers may enjoy the versatility with which they can use rewards cards at a variety of retailers, CNNMoney says small businessowners who accept them often wind up losing money.

According to the source, the use of these cards cost businesses money through interchange fees, which are charged every time someone swipes their card.

"Very few consumers realize that these interchange fees are what fund these cards," said Curtis Arnold, founder of the website CardRatings.com, in an interview with CNNMoney. Arnold went on to say these fees are just one of several additional expenses small businessowners are shouldering more of compared to previous years.

Nevertheless, an increasing number of consumers are using rewards cards, as Phil Hinke, founder of MerchantFeeSavers, says between 45 and 70 percent of credit card transactions are made with them.

Whatever card is used, consumers would be wise to keep track of their financial history. Unfair or inaccurate marks can be made on a consumer's credit report, leading to potential problems. A credit repair company may need to be contacted in such cases to help correct any errant marks.