I stopped by the CBS Early Show this Saturday to reveal my favorite credit cards – in particular, rewards cards. Just to be clear: I am not a huge advocate for credit card usage. If you’re in debt, just skip this blog post. Stick to cash until you’re out of the woods. Don’t even consider rewards cards since they usually carry fees and encourage you to spend more money. At the same time, I understand that credit cards are important to help establish credit and to help us manage our cash flows. For folks who are responsible with credit and pay balances off in full each month, there is a sea of card offers with various perks. Hopefully my list will help narrow down your search. Keep in mind – Reward cards are for someone who isn’t carrying a balance, who spends a lot of money, and has good credit. If you fit that description, you should pick a card that best matches your spending habits and how you’d like to be rewarded, be it cash-back, miles or points.

Top Lowest-Rate Cards

You can’t talk about low rates without mentioning the 0% APR offers. Many of these introductory, teaser rates are short-lived and jump to much higher rates. But the Capital One No Hassle Cash Rewards Card has a 0% APR until March 2011 and after that the rate goes to 15% (which isn’t mind-blowin, but roughly the national average and much lower than some other 0% APR offers). There’s also no transfer-balance fee, which is usually 2 to 5 percent of your balance. If you want a steady low rate, head to your local credit union or small, community bank where you are likely to find the best deals. For example, the Pentagon Federal Credit Union’s PenFed Promise VISA Card has a 7.5 percent APR for the first three years, and then the rate varies depending on the prime rate. If your three years were up right now, it would be 10 percent – not bad!

Top Cash Back Card

This is the most popular perk. After all, cash is king. This is best for folks who pay off their balances in full each month. You will need good-to-excellent credit to qualify for most of these offers; otherwise, the interest you pay will likely outweigh any cash-back perks. They’re also becoming harder to find. I really like the Discover More Card – it’s my top overall pick. No annual fee, no APR for first six months and five percent cash back in rotating everyday categories we use all the time (such as gas, groceries, airlines, home improvement.) Watch the Discover’s online calendar to see the category that’s chosen for the current quarter. You get one percent back on everything else, which is still great. Plus there’s no annual fee, which is VERY rare for most cash-back cards.

Top Financial Reward Card

This is a growing category of rewards cards, which offer cash back towards an investment account. A great one is the Fidelity Rewards American Express Card. It automatically deposits two percent of your purchases into an eligible Fidelity account. There’s no annual fee and no cap on cash rewards. You can choose cards based on the type of investment you prefer: a brokerage account, a retirement (IRA) or a 529 college plan. Airline Miles Reward Cards My pick is the Capital One Venture Card. With this card, you earn two miles for every dollar spent. You can spend points on ANY airline, with no blackout dates, no expiration date, no limits! Although the annual fee is a hefty $59 — it’s free the first year.

Top Card with Points

In general, points cards are not my most favorite category of rewards cards, mainly because, when you go to redeem your points, the stated value of merchandise is frequently inflated, and you have to spend so much before you can redeem your points for stuff you’d want. But they do offer flexibility. Of this group, I like the Citi Forward Credit Card. There’s no annual fee and no APR for the first seven months, which is always good. You get five points for every dollar spent on dining, books, movies and music, and a point for other purchases. The great thing about this card is it rewards you for making purchases, but also for good behavior. You get 100 points each billing period when you pay on time and stay under your credit line, and another 2,500 points when you sign up for paperless statements. So, it’s rewarding you for being green too!

To Do Your Own Research: Anyone can look up this information online by using banking comparison sites such as BankRate.com or CardRatings.com. Both of those sites are great at showing you what cards are currently offering, and you can cater the search based on your individual spending habits. And don’t forget to check your local credit union, since their rates are lower than the national average. Also, try to re-negotiate the rates wof your current cards. It never hurts to check in with the issuers and tell them what your situation is. Perhaps they’ll make you an offer to keep your business; then, the grass wouldn’t necessarily be greener with another card.