If you're thinking of getting a travel credit card, you'll need to get your credit score in great shape first. Most of the top travel credit cards are offered to those with "very good" credit or better - or those with a FICO score of 740 or higher.

If you're wondering how to assess whether your credit is in good shape or not, don't forget you can get an estimate of your credit score for free with a website like Credit Karma. If you find you don't qualify for a travel credit card yet, don't despair. There are plenty of ways to improve your credit over the long run.

Scoring free travel is always good, but you have to make sure you don't carry a balance from month to month. Considering the average interest rate on all credit cards is currently over 16 percent, carrying a balance will cost you more than you get in rewards.

Also remember that travel credit cards come with the same pitfalls as any other credit card. This includes the potential for late fees, over-the-limit fees, and other fees. Make sure you understand all potential fees and how to avoid them before you pursue travel rewards.

Keep in mind that some travel credit cards have annual fees in the hundreds of dollars. This includes the popular Chase Sapphire Reserve with its $450 annual fee. Make sure to assess card benefits and perks so you can decide if the fee is worth it.

Several studies have shown that credit cards can make it easier to overspend, mostly because the money doesn't leave your bank account right away and this creates a disconnect. Only use travel rewards cards if you have some control and self-discipline.

If you're angling to dive into travel rewards, your best bet is using credit card rewards as part of a monthly spending plan or budget. Only charge regular bills you planned to pay anyway, then pay your balance off right away. Most importantly, track your spending diligently.

If you're looking to rack up points and miles quickly, look for cards with big signup bonuses. Many cards like the new Hilton Aspire Card offer a huge bonus after you meet a minimum spending requirement within a few months of account opening.

Some people assume both spouses can't earn a bonus on the same card, but this isn't true. Married people or cohabitating partners can both sign up for the exact same rewards cards and earn the signup bonus-even if they share the same address.

Did you know that your business can also sign up for travel rewards cards? If you want to earn points and miles on all your business spending, make sure to check out business travel cards with various rewards programs. Very often, these programs let you earn points in the same programs as individual cards.

Don't assume that all travel rewards cards are equal or even comparable. Some cards are co-branded with frequent flyer programs while other travel cards are offered in conjunction with a hotel program. Then there are general and flexible travel credit cards that can work for more than one type of travel.

Before you decide which travel rewards card to sign up for, figure out which type of travel you're interested in. Where you want to go (and when) can make a difference in which cards and travel programs you should invest in.

Don't discount the value of hotel points. Many hotel loyalty programs let you stay free at resorts that would otherwise cost $1,000+ per night. Explore the best hotel rewards programs to find the best one for your goals and travel style.

Airline credit cards tend to offer the most bang for your buck since you can frequently redeem points for more than 2 cents each. A round-trip flight to Europe that normally costs $1,500 can cost as little as 50,000 Air France/Flying Blue miles, for example.

Airline miles can make flights uber-cheap, but they still won't be free. That's because, even when you pay with miles, you're on the hook for government-mandated taxes and fees. These fees range from $5.60 per leg for domestic flights to several hundred dollars for international flights.

Did you know that some cards let you book all-inclusive resorts with points? This type of hotel includes your lodging, food, alcohol and entertainment for one price. When you pay with points, that price is F-R-E-E. It's hard to beat that, right?

Some cards let you redeem points for any travel expense you want. One of the best is the Capital One Venture Card. This card offers a huge signup bonus plus 2x points for each dollar you spend. On the redemption side, you can cash in points for any travel experience you choose.

If you're unsure how you want to redeem your points, it can help to sign up for a flexible travel credit card. A card that lets you earn Chase Ultimate Rewards, for example, would let you transfer points to popular loyalty programs like British Airways, Southwest Rapid Rewards, United MileagePlus, Marriott Rewards, and Hyatt.

Also keep in mind that some cards let you cash in points for real money or gift cards. Chase Ultimate Rewards cards fall into this category, which makes them a good option if you're unsure whether you want to redeem for travel or not.

If you're thinking of getting an American Express rewards card, make sure to make it count. Amex limits signup bonuses on their cards to once per lifetime, meaning you can only earn the bonus on each of their cards a single time.

Keep in mind how different rewards programs work before you dive into the signup bonus game. Chase Ultimate Rewards lets you earn the signup bonus on the same card once every 24 months, but other programs have different rules.

Just because a card comes across as lucrative doesn't mean it is. A handful of travel credit cards are downright terrible-as in, having them is hardly worth it.

If you're overwhelmed with the different travel rewards programs, you can always consider a cash-back card for your business or yourself. Many cash-back cards offer 2% back or more and you can redeem your cash however you want-even for an epic trip.

If you are dreaming of a trip to the Maldives or Bora Bora, it's important to note that some cards let you redeem points for overwater bungalows in these destinations. Getting there may be expensive, but hey, at least your hotel will be free.

Pursuing travel rewards is a lot like playing with fire. If you aren't careful, travel rewards cards can leave you in debt and wreck your credit in a hurry. Make sure to proceed with caution and treat your credit with care. If you don't, you could live to regret it.