Credit Cards: Both a Blessing and a Curse?
Having a credit card could be both wonderful and frustrating. While the interest rates could give you so much pain, the lure of making paperless purchases is quite convenient and easy. Besides, it has been fifty (50) long years since credit cards were first introduced into the market, and today’s modern lives cannot be fully functional without using the mighty plastic.
The trick then is to use credit cards to its fullest advantage. Having a credit card in hand and merely using it for purchases should not be the end of your consumer story. Imagine yourself going to the battlefield without any ammunition and without any knowledge about your enemy. This is the very same scenario you would encounter if you use your credit card in a plain manner, without any knowledge in maximizing its purpose.
What You Must Know about the Best Credit Card Rewards Out There
Financial experts say that around 45% of credit card companies offer rewards privileges to their subscribers, and some of the most popular ones are included in this list:
Money Rewards. This type of rewards program is usually known as a “cash back” rewards scheme wherein credit card companies offer a certain amount of monetary bonus if the credit card holder meets some spending requirements. For example, in the United States, a popular company gives a $50-bonus once a subscriber signs up as a card holder. This same company also offers subscribers a 5% rebate when the card is used for gas or groceries.
Purchase Rewards. Some credit card companies offer rebate when a card holder uses his card to purchase the same product consistently. For example, if the subscriber uses the card to make some drug store and grocery purchases on a regular basis, they would give some rebate for such a buying pattern.
Travel Rewards. A number of credit cards also give incentives on travel expenses, hotel use, and out-of-town purchases. Earning points for traveling miles is also a popular rewards scheme for card companies.
Scholarship Rewards. Parents trying to save some dollars for their children’s college education could also look forward to a rewards program that enables them to channel their saved up dollars directly to a savings account.
The best credit card rewards could make you think twice about the purported evil of credit cards. While this piece of plastic must be handled responsibly, it also helps to know that in these difficult economic times, there are some perks that could make an individual thankful for its invention and introduction to the consumer market fifty (50) years ago.
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