Rewards credit cards let you earn cash back, free travel, or other perks when you use your card. Choose rewards you'll actually use and watch out for cards with high annual fees or interest rates.
With the numerous choices you have in credit cards it pays to know what each of the types of credit cards are and what they can do for you. Here we will examine reward credit cards, and the advantages and disadvantages of the cards. for more detail you can visit:
http://www.creditcardwatch.co.uk/reward-cards/
There is usually only one real advantage to the reward credit cards- the rewards. Some of the credit card issuers may offer you a purchase introductory rate with zero percent interest for three to six months. Other rewards cards may offer you points or miles for a balance transfer. Keep in mind that not all cards will provide introductory rewards, but that is one advantage to look for in the reward credit cards category.
Disadvantages of the credit cards are plentiful if you do not know how to use them. The biggest disadvantage to rewards credit cards is not understanding how you are actually awarded the benefits. Before you apply for the credit card ask the company how they calculate the rewards. If they do not know or will not explain it then that card probably isn’t for you. They should be willing to offer that information or tell you where you can find it on their site.
Most point rewards are provided on a sliding scale. This means you might not get the same amount of points for products as you might on others. Typically you have to spend 5,000 pounds or more per year to have the rewards cards do you any good. Many of the rewards cards tell you that 1 percent of your purchase will be the amount you earn in cash back. With points you may have to spend one or two pounds to get a point. The point system is easier to understand than the cash back.
With the numerous choices you have in credit cards it pays to know what each of the types of credit cards are and what they can do for you. Here we will examine reward credit cards, and the advantages and disadvantages of the cards. for more detail you can visit:
http://www.creditcardwatch.co.uk/reward-cards/
There is usually only one real advantage to the reward credit cards- the rewards. Some of the credit card issuers may offer you a purchase introductory rate with zero percent interest for three to six months. Other rewards cards may offer you points or miles for a balance transfer. Keep in mind that not all cards will provide introductory rewards, but that is one advantage to look for in the reward credit cards category.
Disadvantages of the credit cards are plentiful if you do not know how to use them. The biggest disadvantage to rewards credit cards is not understanding how you are actually awarded the benefits. Before you apply for the credit card ask the company how they calculate the rewards. If they do not know or will not explain it then that card probably isn’t for you. They should be willing to offer that information or tell you where you can find it on their site.
Most point rewards are provided on a sliding scale. This means you might not get the same amount of points for products as you might on others. Typically you have to spend 5,000 pounds or more per year to have the rewards cards do you any good. Many of the rewards cards tell you that 1 percent of your purchase will be the amount you earn in cash back. With points you may have to spend one or two pounds to get a point. The point system is easier to understand than the cash back.
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