Save Money Through Credit Card Rewards

Credit cards with reward programs are meant to give bonuses and special privileges that non-rewards cardholders don’t enjoy. Yes, by choosing the right type of reward credit card, it is possible to save more from your spending and enjoy more benefits from your credit card.

The most popular types of reward credit cards are those with cash back rewards, gas rebates or gas rewards, and travel rewards or frequent flyer miles credit cards. Some credit card issuers offer a combination of two or more types of rewards so customers can have the option to choose.

For instance, there are reward credit cards that enable its holders to redeem their points as cash, cheque or gift certificates, free travel, as merchandise, or as credit to their accounts. There are even credit cards that allow you to donate a percentage from the rewards you earned to your chosen charitable institutions.

For business owners, small business credit cards with rewards are great tools for building business credit while getting more from your spending at the same time. Since businesses tend to spend on larger purchases, they can collect bigger points and claim rewards more quickly than consumers.

Credit cards with rewards – High Rate Credit Cards?

It is true that credit cards with rewards often have higher APR than non-rewards credit cards. Interest rates may range from 15% to 20% for credit cards with rewards. However, this doesn’t mean that you can’t find ones with reasonable interest. The key to finding the right reward credit card is doing research and comparison.

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Tips on Using Credit Card Points to Your Advantage

Before signing up for that reward credit card, make sure that you know how you can get the most out of it. Consider the following tips on using credit card points to your advantage.

Pay off your complete balance. Even if the credit card promises amazing rewards, don’t forget to consider the cost that comes with it. For instance, how much is the interest rate you’ll need to pay each month if you fail to pay off your entire balance? Most reward cards charge around 18% APR while others charge more.

If you do decide to get a reward credit card, the only way you can make the most out of it is by paying off your monthly balances in full each time. Otherwise, you may find that the cost of interest you’re paying is way more expensive than the actual value of the rewards you receive.

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How Rewarding are Rewards Credit Cards?

Who dislikes bonuses?

People are often enticed by attractive bonus offers and credit card offers are no different. Shrewd credit card companies are using lucrative credit card rewards to lure new customers in and sustain existing customers. Reward credit cards offer several key features that attract more customers into the fold. As a potential customer your duty is to distinguish between those genuinely beneficial reward credit card offers and those less promising reward credit cards. Many credit card issuers do offer a variety of rewards programs, however, they also find an innumerable number of ways to make up for those reward payouts with fees and charges that unsuspecting customers sometimes overlook.

Reward Credit Cards

If you are in the habit of paying off your balance each month, a reward credit card is ideal for you. Reward credit cards offer myriad rewards for using their respective cards. You can very easily earn reward points for merely making purchases with your card as well as a host of incentives that are offered in the form of additional redeemable reward points.



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Top 10 Credit Card Tips

1. Pick a credit card - or cards - according to your spending habits. If you clear your balance each month, look for a cash back card or one with loyalty points. If you won't be able to pay it off straightaway, opt for a low or 0% interest rate card.
   
   
2. Before traveling abroad, check the charges your credit card firm will make. You may find it makes sense to take out a card that doesn't apply an overseas loading charge.
   
   
3. Steer clear of store cards: the interest rates are extortionate so you'll get better value from an ordinary credit card. Many retailers will offer you 10% or 20% off your purchases if you take out a store card - it's fine to take advantage of these offers just make sure you pay it off immediately otherwise the high interest charges will quickly wipe out your savings.
   
   
4. Set up monthly direct debits to pay at least the minimum repayment off your card. This avoids late payment charges.
   
   
5. Always pay more than the minimum balance - otherwise it could take 25 years to repay a £2,000 debt.
   
   
6. If you have a 0% card make a note in your diary when this rate is due to expire - if you haven't repaid your debt or shifted it onto another card in time, you'll start paying interest.
   
   
7. If you can't repay the debt in that time and think you won't get round to switching again go for a card with a low rate for the life of the balance (rates vary between 4% and 5%).
   
   
8. If you do transfer debt onto a new card, don't spend on it. Credit cards prioritise the debts you repay and so you'll more than likely be stung by a higher rate of interest on new purchases.
   
   
9. Don't leave yourself open to fraud - always check statements thoroughly and check your credit record with a credit referencing company like Experian. If you suspect foul play contact your card issuer immediately.
   
   
10. Keep a watch on your credit card spending - if you find yourself in the situation where you need to put regular expenses like bills and food on your credit card, then it's time to make cut backs and review your financial situation.

from money.scotsman.com: Top 10 credit card tips


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Miles and Cash Back Rewards for Small Business Credit Cards

In the past, small business credit cards were exclusively used to separate a business owner’s personal money and business funds. Today however, small business credit cards are also a great way to get the most from your business expenses.

In fact, business credit card holders have a great opportunity of earning bigger rewards at a sooner time. In this article, we’ll be discussing the three credit card reward options that small business owners can choose from.

Small Business Credit cards with Frequent flier Miles programs

Some small businesses require frequent traveling such as when purchasing stocks or materials from out of State or meeting with prospective clients abroad. A small business credit card with frequent flyer mile program is made for such a purpose.

By charging your ticket purchases, hotel accommodations, car rentals and other purchases to your business credit card, you can easily avail of a free airline ticket and save significantly on your travel expenses. Furthermore, travel reward small business credit cards are often accompanied with discounts and other special privileges that you can enjoy.

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The Best Low Interest Rate Credit Card

Okay, so you’ve found the best low APR credit card and now you’re ready to submit your application. How can you make the most out of your low interest rate card? In this article, let’s discuss some tips on how you can enjoy the best benefit of what your low interest card has to offer.

Keep your interest low. You may notice that the ads often say “AS LOW AS ___ APR”. After the zero % introductory period, there are credit cards that maintain a low interest offer for their clients. Nevertheless, enjoying the lowest rate possible actually depends on how well you handle your account. If you’re consistent with your payments, you should be able to enjoy the lowest rate offer by your credit card. On the contrary, late payments and maximizing your credit limit may move your credit card company to raise your APR higher.

Take advantage of the grace period. The best low APR cards in the market must also come with a sufficient grace period. Unfortunately, many cardholders don’t even make use this provision. Instead, they choose to submit only the minimum due payment and carry their balance from one month to the next. But remember that paying off your entire balance within the grace period enables you to save from at least 8% to 11% from your charges. Even with a low APR card, why pay the interest, if you can avoid it by paying off your entire balance?

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• Low Interest Credit Card Offers

Low Interest Credit Card Offers

When searching for credit cards, most consumers prefer one with a low APR. Nevertheless, when confronted with attractive offers, perks or rewards, the interest rate may suddenly become just a secondary factor.

The fact is, reward credit cards usually come with much higher interest than non-reward cards. The interest rate of reward credit cards ranges from 14% to 19%, depending on the issuer and the type of reward program. Despite this, many consumers still prefer them over regular credit cards because of the promise to earn bonuses, incentives, discounts and other privileges.

Why Get a Low Interest Credit Card?

Why should you be concerned about the interest rate? Many consumers are advised to pay off their monthly balances in full to avoid the additional APR. However, even if your goal is to pay off your charges in full, unexpected circumstances may force you to submit only the minimum due and carry over your balance to the next month. When this happens, your bill can increase by 14% or more because of the interest.

Even worse, your credit card company may increase your interest rate by as much as 25% to 30% because of late payments. The changes in the Prime Rate can also dramatically affect your credit card’s APR at any time. Clearly, getting a credit card with a low APR can protect you from the risk of bad debt.

*Check out list: low interest cards

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How to Maximize Returns from Reward Credit Card

Okay, so you’ve applied for a rewards credit card. Now what? How can you maximize your returns for your reward credit card? If you’ve chosen the right reward credit card, then you should have no problem in earning points more quickly. Consider what type of reward credit card you have and see if it matches your spending habits. If not, then it’s not yet too late to make a switch. If you’re still planning about getting a reward credit card, then take your time in choosing the one that is most appropriate for your needs and lifestyle.

Choose your credit card well

How do you normally use your credit card? Do you usually use it to pay for your monthly expenses such as groceries and utility bills? Does a large amount of your budget go to your car maintenance and gas expenses? Or do you travel a lot and spend more on hotel accommodations, car rentals and plane tickets? Based on your lifestyle, you can choose whether a cash-back credit card, a gas rewards credit card, or a travel rewards credit card will be best for you.

Check your credit report

Reward credit cards with the best deals are only offered for those who have excellent credit rating. Check your credit report and see if there are some steps you can do to improve your credit.

Take Advantage of the 0% Introductory Offer

Whichever rewards credit card you choose, there is usually a 0% introductory offer that you can avail off. The best ones are those that give a 0% APR on both purchases and balance transfers for a whole period of 12 months. Most reward credit cards come with a high interest rate so if you choose the one with 0% APR on purchases and balance transfer for a whole year, that would be a great savings and convenience on your part. There are credit cards that give a reasonable interest rate even after the introductory period expires and that’s the reward credit card you want to have.

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