How To Get The Most From Your Rewards Credit Card - Part 1

You will find that there are many credit cards out there that can help benefit you if you must have a credit card. Of course with how things work today it is important to have some form of credit card to book vacations, car rentals, pay for things online, and a variety of other reasons for having such cards. You will find that among the credit cards offered are those that are called reward credit cards. These types of cards offer you 0% credit card introductory rates, 0% balance transfers, and then there are the actual rewards that you can get with these cards.

The rewards based credit cards are going to be quite handy if you learn how to use them properly. You see if you just use the credit card without thinking it will do you more harm than good, but if you understand the rewards you can get with the credit cards you may just find yourself saving a bundle in stores. The rewards based credit cards are going to differ on what you will be able to have as far as benefits. For instance there are travelling rewards cards, in which the more you travel overseas the more you can save with the card. Of course if you don’t travel very much or at all you are going to find this card is pretty worthless to your lifestyle. On the other hand if you have children that are going to school you are going to find that a rewards card that is based on buying school books, materials, and clothes for school will greatly benefit you. The idea is to first understand the variety of rewards offered, how you can earn cash back or points depending on the card, and then how you can use the card to your best advantage rather than to the advantage of the credit card company.

The thing to keep in mind is that you want to have the control and make certain that you are only using the card where it will benefit you and to pay off the balance on a monthly basis. In other words don’t use it as a supplement to income. The cards work in that you are offered a reward in either cash back or points per pounds spent. You will find that the level of cash back and points are not going to be very high, unless you use your credit card on a regular basis. This means that you will want to use it either for very large amounts at one time or to use it every month on the products that will allow the cash back or points to rise steadily.

If you are an individual who is not going to use the card with a relative frequency or even be able to use it because you can’t pay it off these cards may not work for you in the long term. In fact it can take years for a person to get enough points for a reward regarding travel if they don’t use the card often.

Back To January 2008 Financial News
Purchasing with Credit Cards
Traps with Credit Cards
Understanding Credit Scoring
What Is A Credit Reference Agency
Testing Your Debt
10 Ways To Save Money
Benefits of Savings
How To Save of Invest Your Money
Individual Savings Accounts
Sainsbury’s Bank Internet Savings Account
Product Types For Savings
Saving with Child Trust Funds
Savings and Investments Advice
Trouble Ahead with Free Banking
Warning: Savings Rate Change
What Makes Consistent Savings Account?
Credit Building Solutions
Britain Needs to Protect Itself
Free Banking or Unfair Bank Charges
Reintroducing Child Savings
How To Get The Most From Reward Credit Cards - Part 1
How To Get The Most From Reward Credit Cards - Part 2
UK Economy Growth
UK Rate Cut
US Recession and Britain