You probably have some kind of rewards credit card hanging out in your wallet for racking up frequent-flyer miles, redeemable points, or cash back with every swipe. But if you carry a balance on such a card, the penalties ultimately outweigh the perks.

According to Bankrate.com, the average APR for a cash rewards card is 13.91 percent. However, credit cards that don’t pay out perks have a lower average APR of 10.78 percent. That means if you carry a $5,000 balance on a rewards card with a 13.91 percent APR, you’re going to shell out $587 more in interest by paying the monthly minimum than if you’d parked the balance on a lower-interest credit card.

Rewards cards can also encourage you to spend more than you would otherwise: You might figure, “Hey, at least I’ll get the miles.” The problem is that most rewards cards pay out at a rate of about 1 percent — meaning that $5,000 in purchases only earns you $50 worth of freebies. If you’re carrying a balance over time, those perks don’t seem so free anymore, right?

The best candidates for rewards cards are the people who pay off their balances in full every month. That way you can earn free airline tickets, gift certificates, and cash without paying the lender a dime in interest. Consider it a prize for managing your credit responsibly.