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Finding the Advantages of a Reward Credit Card

Jul 12, 2008
Cash back credit cards offer you cash back benefits on your purchases. Offers vary from one cash back card firm to another. A few may offer high incentives only for selective items, while others offer incentives on any kind of purchases that you make. By these cash back cards, you can save considerable amount of money on your monthly budget. With cash cards, you also benefit from cash refund, if you spend within a certain limit.

Rewards of credit cards vary from one creditor to another. The lowest incentive on these cards is 1% and the highest incentive is generally 6%. Banks and card companies usually offer incentives, if you buy some particular items from a particular store. Generally, purchases made at drug stores, grocery stores and gas stations carry a high percentage of cash back rewards varying from 4% to 6%. Some card providers ask you to spend only a certain amount on your cash back credit card to avail the cash back facility.

Some Top Advantages:

There are three main advantages from your cash back credit cards such as discounts, points and air miles. Numerous card companies affiliate with certain brands and firms and when you decide to purchase any items from these firms, you get discounts. Credit points are those points, which you earn by purchasing items. You can then use these points to buy stuffs at any selective stores.

You also have the benefit of getting free air miles, since many airline companies tie up with credit card companies. Here, you are rewarded with one mile for each dollar that you spend on your card. Some credit card companies even offer two air miles for every dollar, which cardholders spent on their cash back credit cards. Other travel benefits include free hotel stay, concession on auto rentals and financial assistance to purchase a new automobile. Cash back cards generally have a zero percent interest rate. In addition, you get 0% Annual Percentage Rate (APR) balance transfer in the first year.

If a credit card company offers you cash back card with a 5% money back facility on gas purchases, it is the greatest benefit that will help you to save considerable amount on your financial budget. This is because, whenever you purchase gasoline from a local gas station, you tend to pay the bills through this card and when you pay often through this card, you get gasoline services at a minimal price. In turn, this increases your bonus points too, thus increasing your chances to buy things from selective stores.

Cash back credit cards also offer special benefits, provided you pay your monthly bills on time. Late payment is one such thing, which prevents you from getting these benefits. You need to read the terms and conditions properly before using these cards. It is wise to evaluate the rewards offered by various card companies and then apply for the most suitable one for your financial needs. Researching and taking a little time out of your day can go a long ways.
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