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
Friday, September 25, 2009
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
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