A lot of reward credit cards offer more than just one type of reward system. By combining two or more reward types in one card, cardholders are given more choices and flexibility when it comes to redeeming points. For instance, reward cards with Frequent Flier Miles reward primarily offers its cardholders the chance to travel for free using the points they earned from their purchases. However, there are travel reward credit cards that allow you to exchange your mileage points for gift certificates, or merchandise, rebates or cash back.
Why Exchange Miles Rewards for Gift Check, Merchandise or Cash Back
There are instances when a travel reward credit card holder may opt not to claim his/her opportunity to fly for free. Instead of free airline ticket, you may decide to exchange your points for other valuable goods if you feel that it’s not the perfect time for you to go on a trip. It is very important to find a travel rewards credit card with other reward options to avoid forfeiting your hard-earned points.
Does your Frequent Flier Miles card provide you with flexibility and convenience? Are you allowed to exchange your mileage points for other incentives in case you won’t be able to go on travel? Can you carry over unredeemed points for the past year or will you lose all those points if you fail to make a flight reservation? These are important factors to consider when reviewing the card’s Terms & Conditions.
On Earning Credit Card Rewards Points
Having a reward credit card isn’t just about grabbing opportunities. Do not just buy things for the sake of earning more points in your account. You also need to think whether you can afford to pay off that purchase in full before your due date to avoid the additional interest rate costs. Take note that credit cards with rewards usually carry higher APR than non-rewards cards so if you’re going to leave a balance, you’ll end up paying for more than the original amount you owe.
Before signing up for a reward credit card, you need to weigh your options very carefully. Asking yourself the following questions should help you weigh your decision:
• Will the costs of the card offset the value of rewards that you can earn?
• Does that particular credit card really give you a realistic opportunity to enjoy your rewards?
• Will you get points from your regular purchases or do you need to purchase from a particular shop?
• Will you lose your chance to be rewarded if you fail to gather enough points on time?
• Are the restrictions of the reward program reasonable?
If you’re a reward credit card holder, it is your duty to make sure that you are earning the points you deserved from your purchases. Check your account regularly and see to it that all the points you earned from your purchases are accurately credited to your account. You can check your rewards by calling your issuer’s customer hotline or by accessing your account online. If you have any queries regarding the calculation of your points, call your credit card issuer right away.
Recommended Resources:
Monday, October 5, 2009
Friday, September 25, 2009
Choosing the Right Credit Card – Cash Backs vs. Other Reward Credit Cards
Some credit cards give away rewards in the form of free travel, rebates and gift certificates. Other credit cards reward their cardholders in the form of cash. If you’re planning on applying for a credit card, what is right for you- a cash back credit card or a reward credit card?
Cash Back Credit Cards
A cash back credit card usually gives a point or double points for every dollar spent on the card. This means, you get a point regardless of where you spend your card on- whether it’s for your groceries, for car rentals, for dining out, for shopping, etc. Each time you use cash back credit card, your points accumulate until you garnered enough number points to claim the cash.
Some cash back credit cards give their clients the option to choose whether they want their reward in check or a gift certificate from a selected merchant. Usually, cash back points are given away by a minimum cash amount depending on the credit card issuer.
For instance, if you’ve earned points that amount to as low as $25, you can already claim your check. Because cash back credit cards give away points on all types of purchases, these credit cards are recommended for those who use their card for different purposes. This way, they can earn points at a faster rate.
Other Reward Credit Cards
Compared to cash back credit cards, reward credit cards generally give away bigger points. However, earning these points are only limited to selected merchants depending on what type of reward credit card you have.
Examples of reward credit cards are hotel rewards, travel rewards and gas rewards credit cards - just to name the most popular ones. Thus, if you choose a gas rewards credit card, you can get as much as 5% of rebate every time you use the card for your gasoline purchases or car maintenance expenses on selected stations.
On the other hand, if you have a hotel rewards credit card, you will be entitled to earn your reward points every time you use the card for hotel accommodations, hotel purchases, car rentals, etc. In other words, reward credit cards require its card holders to patronize certain affiliate shops or companies in order to gain points.
If you often use your credit card for a particular type of expense- such as travel, refueling, or hotels- then a reward credit card can be your better option. However, it is important for you to make sure that the reward credit card you’ll be signing up for have affiliations with your preferred stores or establishments. Furthermore, each reward credit card has its own conditions with regards to collecting and claiming rewards.
Whether you choose a cash back reward credit card or a reward credit card, what’s important that you do understand your rights and obligations before signing up for the card. Read and understand each statement included in the contract. This will also help you in comparing which credit card issuer offers the best deals.
More Rewards:
Cash Reward Credit Cards
Points Rewards Credit Cards
Travel Rewards Credit Cards
Cash Back Credit Cards
A cash back credit card usually gives a point or double points for every dollar spent on the card. This means, you get a point regardless of where you spend your card on- whether it’s for your groceries, for car rentals, for dining out, for shopping, etc. Each time you use cash back credit card, your points accumulate until you garnered enough number points to claim the cash.
Some cash back credit cards give their clients the option to choose whether they want their reward in check or a gift certificate from a selected merchant. Usually, cash back points are given away by a minimum cash amount depending on the credit card issuer.
For instance, if you’ve earned points that amount to as low as $25, you can already claim your check. Because cash back credit cards give away points on all types of purchases, these credit cards are recommended for those who use their card for different purposes. This way, they can earn points at a faster rate.
Other Reward Credit Cards
Compared to cash back credit cards, reward credit cards generally give away bigger points. However, earning these points are only limited to selected merchants depending on what type of reward credit card you have.
Examples of reward credit cards are hotel rewards, travel rewards and gas rewards credit cards - just to name the most popular ones. Thus, if you choose a gas rewards credit card, you can get as much as 5% of rebate every time you use the card for your gasoline purchases or car maintenance expenses on selected stations.
On the other hand, if you have a hotel rewards credit card, you will be entitled to earn your reward points every time you use the card for hotel accommodations, hotel purchases, car rentals, etc. In other words, reward credit cards require its card holders to patronize certain affiliate shops or companies in order to gain points.
If you often use your credit card for a particular type of expense- such as travel, refueling, or hotels- then a reward credit card can be your better option. However, it is important for you to make sure that the reward credit card you’ll be signing up for have affiliations with your preferred stores or establishments. Furthermore, each reward credit card has its own conditions with regards to collecting and claiming rewards.
Whether you choose a cash back reward credit card or a reward credit card, what’s important that you do understand your rights and obligations before signing up for the card. Read and understand each statement included in the contract. This will also help you in comparing which credit card issuer offers the best deals.
More Rewards:
Cash Reward Credit Cards
Points Rewards Credit Cards
Travel Rewards Credit Cards
Tuesday, September 15, 2009
Is it Worth to Apply for a Cash back credit cards?
A cash back credit card holder has more freedom not just in collecting points but in redeeming rewards as well. But Are They worth the Deal?
When it comes to reward credit cards, cash backs are the most popular. Why so? This is because cash back reward cards give its holders more flexibility in collecting and redeeming rewards.
Unlike other credit cards with rewards, one with a cash back reward has simple rules. Generally, customers are given 1 point for every dollar they spent using the card. Most cards give points regardless of the type of purchase made.
It doesn’t matter whether the purchase was made from a gasoline station, drugstore, boutiques or groceries, as long as the expenses are charged to the card, the equivalent points are given. Credit cards with cash back can be used by both frequent shoppers and those who use their cards occasionally.
Choosing the Right Cash Back Reward Credit Card
Although there are many cash back cards in the market, not all give the best deal. To find the best credit card in the market, you need to spend time doing research, comparing your choices and studying the details.
Credit card review sites can be of great assistance. These web sites can help you recognize which cards in the market have the most potential. Here, cards are categorized according to their use so you can go straight to the list of cash back credit cards that are designed for you. If you’re a consumer or a business owner, you can surely find the exact cash back card that suits you.
Read reviews about credit cards with cash back rewards to help you narrow down your choices. However, take note that the reviews only feature the strongest and weakest features of each card. After reading reviews, don’t forget to check out the official website of the credit card and read the complete Terms and Conditions.
Don’t Focus on the Interest Alone
People usually prefer credit cards with the lowest APR over those with slightly higher rates. Although it’s important to get a card with a low rate, your choice of card should not be based on this one factor alone.
There are cards that offer incredibly low interest rate but with expensive fees and charges. For example, does the card carry an annual fee? What about the late penalty and transaction charges? How long will the low interest rate last? How is the interest rate calculated?
After checking the fees and costs, evaluate the rules of the reward program. Here are some of the basic questions you can ask:
• How exactly can you earn points?
• What kinds of purchase are qualified for points?
• Is there a limit to the value of rewards you can earn?
• Are there blackout dates and restrictions?
• How will you be able to redeem your rewards?
Some cash back cards are affiliated with specific merchants. Find cards that have partnerships with your favorite shops and establishments. If you often purchase from these stores, you have the chance to get more points from your expenses.
More Rewards:
Cash Reward Credit Cards
Airline Reward Credit Cards
Gas Credit Cards Reward
When it comes to reward credit cards, cash backs are the most popular. Why so? This is because cash back reward cards give its holders more flexibility in collecting and redeeming rewards.
Unlike other credit cards with rewards, one with a cash back reward has simple rules. Generally, customers are given 1 point for every dollar they spent using the card. Most cards give points regardless of the type of purchase made.
It doesn’t matter whether the purchase was made from a gasoline station, drugstore, boutiques or groceries, as long as the expenses are charged to the card, the equivalent points are given. Credit cards with cash back can be used by both frequent shoppers and those who use their cards occasionally.
Choosing the Right Cash Back Reward Credit Card
Although there are many cash back cards in the market, not all give the best deal. To find the best credit card in the market, you need to spend time doing research, comparing your choices and studying the details.
Credit card review sites can be of great assistance. These web sites can help you recognize which cards in the market have the most potential. Here, cards are categorized according to their use so you can go straight to the list of cash back credit cards that are designed for you. If you’re a consumer or a business owner, you can surely find the exact cash back card that suits you.
Read reviews about credit cards with cash back rewards to help you narrow down your choices. However, take note that the reviews only feature the strongest and weakest features of each card. After reading reviews, don’t forget to check out the official website of the credit card and read the complete Terms and Conditions.
Don’t Focus on the Interest Alone
People usually prefer credit cards with the lowest APR over those with slightly higher rates. Although it’s important to get a card with a low rate, your choice of card should not be based on this one factor alone.
There are cards that offer incredibly low interest rate but with expensive fees and charges. For example, does the card carry an annual fee? What about the late penalty and transaction charges? How long will the low interest rate last? How is the interest rate calculated?
After checking the fees and costs, evaluate the rules of the reward program. Here are some of the basic questions you can ask:
• How exactly can you earn points?
• What kinds of purchase are qualified for points?
• Is there a limit to the value of rewards you can earn?
• Are there blackout dates and restrictions?
• How will you be able to redeem your rewards?
Some cash back cards are affiliated with specific merchants. Find cards that have partnerships with your favorite shops and establishments. If you often purchase from these stores, you have the chance to get more points from your expenses.
More Rewards:
Cash Reward Credit Cards
Airline Reward Credit Cards
Gas Credit Cards Reward
Wednesday, September 9, 2009
Handling Reward Credit Card Disputes
If You’re a Business Owner
Online business owners or internet marketers should be especially aware about the issue of credit cards and disputes. Yes, accepting credit card payments can dramatically boost your sales particularly from reward credit cardholders but there is also the risk of occasionally disputes from customers. Anticipating the problem and knowing how to handle it is best.
How to Handle Disputes
Merchants usually encounter charge back disputes from customers who purchased with a credit card. It is called a charge back since the customer makes the complaint to his/her credit card issuer a day or days after the item has been bought and paid. In short, the credit transaction has been done and the charges have been credited to the cardholder’s account.
What are the possible reasons for a charge back dispute? One possible cause is that the account has been used without the Real cardholder’s consent. Unauthorized charges can occur when the actual credit card or the credit card numbers have been stolen. This usually happens with online purchases.
Another reason for a charge back dispute is that the customer received the purchased items in bad condition. This can happen because of poor packaging or a poor delivery service. Obviously, if the item isn’t received well, the customer will complaint and demand the refund of the purchase.
In both scenario, the issuer of the credit card will usually be on the side of the cardholder. Thus, the merchant becomes the one to shoulder the payment of the credit card charges. Customers have the right to dispute and protect themselves against poor customer service and it is the owner of the business who has to carry the load.
Obviously, if you own an online business, it is your duty to secure the protection of your customers’ identity and their purchases as well. To avoid charge back disputes, you must ensure that you are using a secured website and that you are using a reliable shipping service.
If You’re a Customer
As a credit card holder, what can you if you found out that there are incorrect charges in your account? Remember that you have the right to dispute these charges. Call your credit card issuer immediately and explain the situation. Don’t forget to do follow up through a formal dispute letter sent through registered post mail.
Always check your monthly credit card bills for any signs of fraud or unauthorized transactions. If you’re a using a reward credit card, see to it that you are really getting the points you earned from your purchases.
Don’t buy from online shops with a questionable reputation. Check the background and history of the merchant. See to it that you are using a secured server and that your personal information will be kept confidential.
More Rewards:
Cash Reward Credit Cards
Airline Reward Credit Cards
Gas Credit Cards Reward
Online business owners or internet marketers should be especially aware about the issue of credit cards and disputes. Yes, accepting credit card payments can dramatically boost your sales particularly from reward credit cardholders but there is also the risk of occasionally disputes from customers. Anticipating the problem and knowing how to handle it is best.
How to Handle Disputes
Merchants usually encounter charge back disputes from customers who purchased with a credit card. It is called a charge back since the customer makes the complaint to his/her credit card issuer a day or days after the item has been bought and paid. In short, the credit transaction has been done and the charges have been credited to the cardholder’s account.
What are the possible reasons for a charge back dispute? One possible cause is that the account has been used without the Real cardholder’s consent. Unauthorized charges can occur when the actual credit card or the credit card numbers have been stolen. This usually happens with online purchases.
Another reason for a charge back dispute is that the customer received the purchased items in bad condition. This can happen because of poor packaging or a poor delivery service. Obviously, if the item isn’t received well, the customer will complaint and demand the refund of the purchase.
In both scenario, the issuer of the credit card will usually be on the side of the cardholder. Thus, the merchant becomes the one to shoulder the payment of the credit card charges. Customers have the right to dispute and protect themselves against poor customer service and it is the owner of the business who has to carry the load.
Obviously, if you own an online business, it is your duty to secure the protection of your customers’ identity and their purchases as well. To avoid charge back disputes, you must ensure that you are using a secured website and that you are using a reliable shipping service.
If You’re a Customer
As a credit card holder, what can you if you found out that there are incorrect charges in your account? Remember that you have the right to dispute these charges. Call your credit card issuer immediately and explain the situation. Don’t forget to do follow up through a formal dispute letter sent through registered post mail.
Always check your monthly credit card bills for any signs of fraud or unauthorized transactions. If you’re a using a reward credit card, see to it that you are really getting the points you earned from your purchases.
Don’t buy from online shops with a questionable reputation. Check the background and history of the merchant. See to it that you are using a secured server and that your personal information will be kept confidential.
More Rewards:
Cash Reward Credit Cards
Airline Reward Credit Cards
Gas Credit Cards Reward
Monday, August 10, 2009
Can Reward Business Credit Cards Make You Rich?
To keep up with the competition, credit card companies offer different reward programs to keep their old clients and attract new card holders. Even business owners can take advantage of the rewards that are exclusively offered for business credit card holders.
If you’re a business owner, you can find a wide variety of reward programs and choose the one that best matches your business spending and needs. The basic reward programs include Frequent Flyer Miles Rewards, Gas Rebates, and Cash Back Rewards. Some small business credit cards even offer more than one type of rewards.
If you’re a business owner, should you apply for a reward business credit card? What are the advantages of using reward credit cards with your business? Can these cards really make you rich?
The Advantages of Business Credit Cards with Rewards
It is true that using business credit cards allow you to get more from your expenses. Since business owners spend more than personal credit card holders, they can collect points at a faster rate and earn much bigger rewards. For this reason, entrepreneurs are encouraged to grab this opportunity and make the most from their business spending.
Business credit cards with rewards are also sponsored by merchants that offer products and services for businesses. Using your card to purchase office supplies and other goods from affiliated merchants give you the chance to enjoy discounts, perks, bonuses and special privileges that are exclusive only for its card holders.
For business owners, using small business credit cards with reward programs are definitely worth considering. Imagine how much you can save from your expenses if you are given at least one point per every dollar you purchased.
The Risks – and How to Avoid Them
Nevertheless, benefitting from reward credit cards depend on how well you manage your account. For instance, reward business credit cards have higher interest rates than credit cards without rewards. If you want to apply for a reward business credit card, paying off your monthly charges in full is a must. This way, you can avoid paying for the interest and penalty fees altogether. If you have to carry over your balances from month to month, you’ll only be spending more than what you originally owe because of the additional interest charges.
Use your business credit card with discretion. You may be tempted to charge purchases on your account just for the purpose of collecting points. However, this habit could prove to be dangerous. Charging unnecessary expenses to your account can easily lead to overspending and uncontrolled debt. To avoid bad debt, make sure that every purchase you charge to your account is important for the business.
Choose a reward business credit card that suits your business. For instance, if your business requires you to travel a lot, then perhaps a Travel Reward credit card would be best for you. Otherwise, it may be more practical to get a cash back business credit card or a gas reward credit card instead. Finally, read the entire Terms and Conditions of your credit card before signing up your application. Understand the rules of the reward program and make sure that your business can benefit from it.
More Rewards:
Cash Reward Credit Cards
Points Rewards Credit Cards
Travel Rewards Credit Cards
If you’re a business owner, you can find a wide variety of reward programs and choose the one that best matches your business spending and needs. The basic reward programs include Frequent Flyer Miles Rewards, Gas Rebates, and Cash Back Rewards. Some small business credit cards even offer more than one type of rewards.
If you’re a business owner, should you apply for a reward business credit card? What are the advantages of using reward credit cards with your business? Can these cards really make you rich?
The Advantages of Business Credit Cards with Rewards
It is true that using business credit cards allow you to get more from your expenses. Since business owners spend more than personal credit card holders, they can collect points at a faster rate and earn much bigger rewards. For this reason, entrepreneurs are encouraged to grab this opportunity and make the most from their business spending.
Business credit cards with rewards are also sponsored by merchants that offer products and services for businesses. Using your card to purchase office supplies and other goods from affiliated merchants give you the chance to enjoy discounts, perks, bonuses and special privileges that are exclusive only for its card holders.
For business owners, using small business credit cards with reward programs are definitely worth considering. Imagine how much you can save from your expenses if you are given at least one point per every dollar you purchased.
The Risks – and How to Avoid Them
Nevertheless, benefitting from reward credit cards depend on how well you manage your account. For instance, reward business credit cards have higher interest rates than credit cards without rewards. If you want to apply for a reward business credit card, paying off your monthly charges in full is a must. This way, you can avoid paying for the interest and penalty fees altogether. If you have to carry over your balances from month to month, you’ll only be spending more than what you originally owe because of the additional interest charges.
Use your business credit card with discretion. You may be tempted to charge purchases on your account just for the purpose of collecting points. However, this habit could prove to be dangerous. Charging unnecessary expenses to your account can easily lead to overspending and uncontrolled debt. To avoid bad debt, make sure that every purchase you charge to your account is important for the business.
Choose a reward business credit card that suits your business. For instance, if your business requires you to travel a lot, then perhaps a Travel Reward credit card would be best for you. Otherwise, it may be more practical to get a cash back business credit card or a gas reward credit card instead. Finally, read the entire Terms and Conditions of your credit card before signing up your application. Understand the rules of the reward program and make sure that your business can benefit from it.
More Rewards:
Cash Reward Credit Cards
Points Rewards Credit Cards
Travel Rewards Credit Cards
Thursday, July 9, 2009
Business Credit Card Reward Choices – Miles, Gas and Cash
It used to be that business credit cards serve only two purposes – to separate business and personal finances and to assist a business with its spending needs. Yet, as competition among credit card companies build up, credit cards for small businesses have become better and with so much more to offer.
Nowadays, business rewards credit cards comes in all varieties. Currently, there are three basic types of reward programs that business credit cards offer. These are the Miles, Gas and Cash Back Rewards. Some business credit cards offer a combination of two or more types of rewards while others offer incentives or bonuses that are especially designed for specific businesses.
Business credit card with Miles Rewards
Business credit cards with miles rewards are ideal for businesses that require travels. Do you frequently take trips abroad to promote your business or meet new clients? Do you usually purchase your supplies or raw materials from another state or country? Do you often fly airlines to get to your business destination? If yes, you can take advantage of what Miles rewards credit cards can do for your business.
How? Generally, Miles Rewards Cards award points from travel related purchases such as airline tickets, hotel accommodations, car rentals, etc. Although you can get points from regular purchases, travel-related expenses often have higher points value. These points are then converted to miles or free airline tickets. Aside from tickets, hotel and car rental discounts, free travel insurance are just some of the exclusive privileges you can enjoy. Think about how much you can save from your travel allowances simply by using your business credit card on your trips.
Business credit card with Gas Rewards
Do you own delivery vans or trucks that you use for your business? Then perhaps getting a gas reward business credit card would be a practical choice for you. As their name implies, this type of business credit card particularly gives rebates and points from gasoline purchases.
Typically, you can distribute extension cards or supplementary cards to your drivers so that each time they purchase gas, you also earn points in your account. If you spend a lot on your transportation allowances, you can make the most of your spending by getting a gas reward card.
Business credit card with Cash Back Rewards
A business credit card with cash back rewards is the most flexible of all reward programs. Almost any type of business can make the most of this credit card. Earning rewards is simple. Each time you use your business credit card for purchases, you also earn cash back points in your account. These points can be converted to cash, checks, gift certificates or even redeemed as goods or products.
Usually, it gives 1 points per every 1 dollar spent on the card but some credit cards offer more points for each dollar spent. By distributing supplementary cards to your selected staff, you can collect your points more quickly and get more from your credit card spending.
More Rewards:
Business Rewards Credit Cards
Cash Reward Credit Cards
Airline Reward Credit Cards
Nowadays, business rewards credit cards comes in all varieties. Currently, there are three basic types of reward programs that business credit cards offer. These are the Miles, Gas and Cash Back Rewards. Some business credit cards offer a combination of two or more types of rewards while others offer incentives or bonuses that are especially designed for specific businesses.
Business credit card with Miles Rewards
Business credit cards with miles rewards are ideal for businesses that require travels. Do you frequently take trips abroad to promote your business or meet new clients? Do you usually purchase your supplies or raw materials from another state or country? Do you often fly airlines to get to your business destination? If yes, you can take advantage of what Miles rewards credit cards can do for your business.
How? Generally, Miles Rewards Cards award points from travel related purchases such as airline tickets, hotel accommodations, car rentals, etc. Although you can get points from regular purchases, travel-related expenses often have higher points value. These points are then converted to miles or free airline tickets. Aside from tickets, hotel and car rental discounts, free travel insurance are just some of the exclusive privileges you can enjoy. Think about how much you can save from your travel allowances simply by using your business credit card on your trips.
Business credit card with Gas Rewards
Do you own delivery vans or trucks that you use for your business? Then perhaps getting a gas reward business credit card would be a practical choice for you. As their name implies, this type of business credit card particularly gives rebates and points from gasoline purchases.
Typically, you can distribute extension cards or supplementary cards to your drivers so that each time they purchase gas, you also earn points in your account. If you spend a lot on your transportation allowances, you can make the most of your spending by getting a gas reward card.
Business credit card with Cash Back Rewards
A business credit card with cash back rewards is the most flexible of all reward programs. Almost any type of business can make the most of this credit card. Earning rewards is simple. Each time you use your business credit card for purchases, you also earn cash back points in your account. These points can be converted to cash, checks, gift certificates or even redeemed as goods or products.
Usually, it gives 1 points per every 1 dollar spent on the card but some credit cards offer more points for each dollar spent. By distributing supplementary cards to your selected staff, you can collect your points more quickly and get more from your credit card spending.
More Rewards:
Business Rewards Credit Cards
Cash Reward Credit Cards
Airline Reward Credit Cards
Tuesday, June 23, 2009
Are Rewards Credit Cards as really Rewarding as they promise to be?
Is it really rewarding to have a rewards credit card? Before we answer that question, let’s take a look at the past. A Brief History of Reward Credit Cards
The first credit card was introduced in 1950. Frank McNamara came up with the Diner’s Card, a credit card which can be used to pay for restaurants and diners. According to the story, Mr. McNamara was having a business meeting at a restaurant when he encountered an embarrassing situation. He forgot his wallet and his wife had to bring it to him so he could pay for his bill. Since then, the Diner’s Card was born and the emergence of other credit cards started.
In 1986, Discover launched a cash back rewards program for its credit card holders. They also came up with the “frequent flier” rewards program in a tie up with Continental Airlines. Since then, the competition among different credit card issuers and banks brought about different types of credit card rewards that offer discounts, cash rebates, and free travels to customers.
Today, credit card rewards programs offer specific incentives that matches a customer’s lifestyle. Banks have also paid attention to business owners and have come up with business credit card rewards programs. Generally, reward programs are done with the support of participating establishments, gas stations, merchants or airlines. Thus, the incentives that credit card holders can receive vary from free fuel, free travel tickets, and discounts from various types of stores.
Are rewards credit cards really rewarding?
The truth is, the answer will depend on the credit card holder. Rewards credit cards can be truly valuable if the credit card holder owns the right type and if he knows how to use it well. Because rewards are only obtained after collecting points, it is important to consider if you’ll be able to gather enough points to qualify.
If you want enjoy the benefits of owning a rewards credit card, consider exactly what type of rewards you need. For instance, if you travel a lot, then you should definitely consider obtain a credit card that offers travel rewards. However, not all travel reward credit cards are the same.
It is important for you to find one with terms that will work for you. How will you be able to earn the rewards? How many mileage points are needed before you can qualify for a free travel? Do you think you’ll be able to earn it without spending more than what you can afford to pay? If it will take such a huge amount before you get to earn a single reward, perhaps a travel rewards credit card may not be the best choice for you.
If you’re going to get any type rewards credit card, make sure that you learn about all the terms that apply for earning the rewards. The best reward credit card will let you collect points for as long as you renew your membership. Also, you should be able to add your unredeemed points each time you apply for a renewal. If a credit card limits you with a time frame for collecting points and redeeming your rewards, there’s a big chance that you will not be able to claim your rewards at all.
Also, watch out for rewards credit card which has very expensive annual fees. If you have to pay such a big amount every year just to renew your membership, then it defeats the purpose of receiving rewards. Aside from the annual fee, make sure that the APR, penalty fees, and other costs are reasonable as well.
Lastly always remember that reward programs are supposed to work to your advantage, not put you in debt. Don’t be tempted to use your credit card just for the purpose of collecting points. If your rewards credit card causes you to spend more than what you really need and makes it difficult for you to keep up with your monthly balances, then that’s not very rewarding credit card at all.
More Rewards:
Airline Reward Credit Cards
Cash Reward Credit Cards
Gas Credit Cards Reward
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