Today, tech startup Glyph released its new iPhone app that provides consumers with valuable information regarding which credit cards offer the most valuable rewards programs. Glyph is currently available in the App Store here.

Using the iPhone’s location-based GPS, Glyph recommends the right card to use based on where the user is shopping. Over time, the app learns each user’s habits, and suggests which cards would make a perfect portfolio, never allowing the user to miss out on rewards. Glyph does not require any credit card numbers to function and is free in the Apple App Store.

Between 2006 and 2010, the median American family earned $51,914¹, while mean credit card spend per family was $24,923². Taken together, this means that the average American family spends roughly 48 percent of its household income on credit cards.

Fortunately for consumers, credit card issuers offer excellent rewards perks to attract and retain customers. With the offers currently available in high-spend categories, such as gas, grocery, department stores, and restaurants, consumers can earn 5% back on almost every purchase. Certain consumers, frequent travelers for example, can earn north of 10% back, due to the loyalty programs offered by many hotels and airlines. But with changing rewards schemes, various rewards currencies, and complex terms and conditions, it can be difficult to know the right cards to carry and to determine which card to use for each purchase.

Finally, there’s an app for that.

“Credit card rewards can add significant dollars to consumers’ pockets. We at Glyph believe smartphones can and should help people at the point of purchase. That’s why we’ve built Glyph to be a consumer’s financial advocate on-the-go; consumers now have someone to watch their backs while they are out on the town,” said Mike Vichich, Glyph’s CEO.

Banks have taken already notice of the value that Glyph brings to the market: the app is launching with support from Discover, allowing Glyph users to apply for new cards directly through the app. Similar relationships with other financial institutions are in the works, reports Vichich.

More information can also be found at the company’s website, www.paywithglyph.com.

¹ http://quickfacts.census.gov/qfd/states/00000.html

² http://www.census.gov/compendia/statab/2012/tables/12s1188.pdf