With the competition among credit card companies growing tougher by the minute, bigger and more exciting rewards are offered to cardholders. When managed correctly, reward credit cards can indeed be very rewarding. However, making the wrong choice and credit mismanagement can prove to be risky. In this article, let us discuss the common pitfalls that reward credit cardholders must avoid:
Excessive Interest Rates. Credit cards with rewards are expected to have higher APR than non-rewards cards. While non-rewards cards have an average of 3% to 8% APR, the interest rates on rewards cards in the market can range from 15% to 20%, depending on the issuer.
Continue reading »
If you have a reward credit card, are you reaping the benefits that you deserve? Are you really maximizing your credit card to the fullest? This article presents valuable tips on how you can get more from your reward credit card:
Use your discount privileges. Some reward credit cards offer special discounts for their cardholders. Are you aware of which shops you can avail these special discounts? Do you shop from them? Why not review your credit card Agreement and learn how you can maximize your card’s potential.
Continue reading »
How can you choose a credit card that complements your business? What particular factors should influence your choice? Here are some tips:
Your purpose for acquiring a business credit card. Why do you need a business credit card and how do you plan to use it? If you plan to use it often, it’s best to get a business credit card with rewards. Nevertheless, if you plan to use it only for emergency expenses, you may consider getting a low APR business credit card instead.
Credit cards with rewards are meant to give its cardholders with incentives or bonuses from their spending. But not all reward credit cards live up to their promise. Consumers must be choosy when it comes to signing up for a reward credit card. Furthermore, cardholders must also pay attention to their payment habits to get the most from a credit card.
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. Continue reading »
One of the most common types of reward credit card is the gas reward credit card. Are they really rewarding? What makes them different from other reward credit cards is that the holder can earn rebates or points from gas stations. This does not only include gasoline purchases but car maintenance and services as well. If you own a car, surely you understand how costly it can get to keep your car in good condition.
