|
|||||||||
|
Enjoy discount card rewards. These credit cards offer purchase discounts that can help you save money when shopping.
Discount Card Offers - or Search for other Credit Card Offers
You may be entitled to shopping discounts you're not even aware of. Most everyone is familiar with senior citizen and military discounts, but few people realize that often they have access to credit card discounts.
Need more credit card information? Read our financial and credit articles related to rewards such as cash back credit cards.
Rewards Cards
Reward credit cards can be very appealing. Yet it is important to do some research before making a selection. Read the fine print to make sure the other fees don't exceed the rewards you will get in return. Some cards don't give rewards if a balance is carried from one month to another so it may be necessary to pay off the balance every month. They could even charge higher interest rates on outstanding balances.
Read the terms carefully and take notice of words like "up to". This can mean the maximum you can get. You may not go up to that level unless you spend a lot of money on the card. In that case, you may get less than the advertised reward. The actual cost of the points is important and you should figure how much money is required to get a particular reward. By doing some figuring it is easy to get an idea about the cost. If you are required to spend $10,000 just to get the reward of a gift voucher of $60, it does not seem worth the effort.
Your spending habits are important in addition to how much is necessary to earn rewards. For example, programs offering frequent flyer miles usually require the cardholder to spend a lot of money. If you are an occasional spender, it could take a long time to get a free flight. Gas cards are very popular and great to have but read the terms before applying for the credit card. They have been popular due to the high cost of gas. Make sure you meet the requirements to get the rewards. Some gas cards may give points only if you shop only at a specific gas station.
Annual fees are an issue to consider as they can be high and you must decide the fee to have the card is worth the amount required to get rewards. For example if you have a high annual fee and you must spend up to $5,000 before earning rewards, it may be the right reward card for your needs. It is worth the time to review any limits imposed on rewards. If you get five per cent cash back on purchases but up to a limit of $250, spending over the limit will be wasted. Some rewards can expire if they are not used within a limited period of time.
The best way to save money is not to have spend a lot of money just to get a specific reward, the right reward card can be great if it matches the financial needs of the cardholder. Managing finances is important and before applying for any credit card, read the terms and conditions for the credit card. It is best to know the fees, interest rates, and what is necessary to get the benefits of the rewards offered. Many consumers who use reward cards have benefited by earning flying rewards, hotel rewards, and gas rewards. Any rewards should fit the specific needs of the cardholder. Rewards Card
To get the maximum benefits from a reward card for perks like free travel, gas, or cash back, it can require some homework. Reward cards usually have an annual fee so it is important for you to decide it you will spend enough during the year to make up for the cost of the fee. For instance, if a cash-back reward card has a $29 annual fee for 1 percent cash back on all purchases, it would require you to charge a minimum of $2,900 annually. You would need to find a rewards card that will benefit you. Some rewards are for travel, gift certificates, hotel discounts and there are many more choices that you will need to review before choosing a card.
It can be a good idea to replace other of your cards with a reward card and only use the reward card. Using one card can help you monitor and track spending while getting you even more rewards by using the card to pay for most of your spending needs. Make sure if you do this to pay the balance in full every month. If you don't usually pay off the balance each month, a reward credit card might not be a good choice as most have higher interest rates than other cards. Usually it is required to pay the balance to receive reward points. Another choice if you carry a balance each month is to try a reward debit card like a check card. Reward Cards
Those who are looking for a rewards credit card should match the card to spending habits. When a card is not used much, you may not earn enough rewards. In reverse, those who use their cards a lot could have limits on the rewards they can earn. If for example, charges per year are about $5,000 on a card and the card has an annual cost of $60, it may take years just to earn a free airline ticket to where you want to travel. Figure how much you must spend, how long it will take to get the rewards you want, and compare that with the option of not spending money just to get the rewards.
Cash back cards can be the best for consumers who never spend enough money to get those big rewards that come from spending tons of money. Another choice for card holders who don't charge much is a card that offers higher rebates for certain purchases. Some cards offer more cash back perks when the card is used at certain stores. For example, a cash back card may only offer 1% but if you shop at a particular store the cash back may jump to 5%.
When trying to determine the right rewards card for your needs, review the annual fee. Some could be waived, if for example, some purchases are made at a certain stores during the year, and the reward may increase too. There are benefits and drawbacks for each card option so make sure to decide what fits your spending habits and lifestyle to really get the most rewards for your money and not the kind of rewards you will never get to use. There are card offers that have rewards that pay for college and even some with rewards for plastic surgery. If choosing a rewards card is too much trouble, try sticking to just a cash back card. This is a very popular card that could yield cash that could be spent on whatever you want without the need to make high charges in an effort to try to collect rewards. Rewards Card
One of the most popular reward card is a gas credit cards that can allow cardholders to earn up to 5% cash back on fuel purchases. It means that points are earned when you buy gasoline toward getting cash back. Discover has some good choices for gas cards and cash back perks. Some gas cards may require that the gas be purchased at specific stations to get cash back and others may not have this requirement so it is necessary to review all the details. You may be able to find a card that gives rewards for making purchases that are auto related. For consumers who purchase a lot of car parts or who needs a lot of auto repairs, a gas card may be worth having.
There are cards that let you earn rewards of 1%, 2%, or 5% cash back for different types of purchases like groceries, travel expenses, or at restaurants to name a few. Some cards have no annual fees and 0% intro APR for a specific time. Reward cards are not hard to find, but having the right credit type to get approved is important. They usually offer a good starting out rate and you may be allowed to add extra benefits. Some reward cards have no special restrictions on purchases to earn the reward. This is great, as you could make purchases anywhere and still earn the reward of getting cash back. Rewards Card
With hundreds of credit cards with many types of rewards to choose from, it can be confusing to know how to choose. It was an interesting 2009 for the credit industry and having good credit is more important than ever for 2010. Some card companies have reduced their rewards due to the credit crisis.
There are many great cards, but consumers may have to look harder for the best reward cards. Try to find a low APR, rewards programs, with no annual fee or a low fee. One good card to review is the Discover® More® Card. They often offer up to 5% cash back on every day purchases instead of about 3% which some other cards offer. Getting cash back for just about everything instead of making purchases at certain business gives more flexibility for spending to get cash back.
There is usually not an annual fee on the card and there may be a 0% intro APR on purchases and balance transfers. There are ways to earn more cash back if their online store is used to get increases for cash back. To increase the chances of being approved for this card, do not do a balance transfer when you apply. Wait to see what the credit limit is and let Discover offer a 0% intro balance transfer. Credit Card Perks
You may not know you have extra perks, but most card issuers provide free protections and services that could cost hundreds of dollars if you had to purchase them. As consumers try to keep up with a world of credit cards, looking for ways to avoid new fees or rate hikes, they may miss many of the free benefits they have. While card issuers continue to clamp down on credit limits and rewards programs, they have left consumers with many perks that, when used, can save hundreds of dollars.
Free benefits like extended warranty protection, lost-luggage reimbursement, and purchase protection aren't advertised as much as the 0% introductory interest rates or earning bonus rewards. Perks provided by top credit card companies are paid for through interchange fees which are paid by merchants for each credit card transaction. Less than 15% of cardholders actually use the free benefits. Usually these are mentioned in the fine print that consumers get with their credit cards and they usually don't read it. That can be a mistake as they are really good benefits. Taking advantage of those features may require some paperwork, and you may have to work with a customer service representative who is not aware of how they work. But using them may save you hundreds of dollars.
Below are some details on credit card benefits.
* For auto rental collision damage waiver, it reimburses for the deductible portion of your personal auto insurance policy, or all covered damages or theft if you do not have auto insurance. It may include loss-of-use damages imposed by the car rental company and reasonable towing charges. It may not apply if you rent a car for more than 15 consecutive days in the United States or 21 consecutive days abroad. The loss or theft of personal belongings and personal liability charges are not covered. You may need to decline the collision damage waiver and loss damage waiver options offered by the rental company. It could cost from $10 to $20 a day if you purchased a collision damage waiver from the car-rental company, depending on the location, the type of vehicle rented and which rental company is used.
* An extended warranty, it doubles the free-repair period of the original manufacturer's repair warranty on an item, up to one additional year. It usually includes purchases made outside the U.S., as long as the item has a valid original manufacturer's U.S. repair warranty, store-purchased dealer warranty or assembler warranty. Many items aren't covered that may include boats, cars, aircraft and any other motorized vehicles, items purchased for resale or professional use; real estate and items intended to become part of real estate for example, garage doors and ceiling fans, computer software like medical equipment, and used, antique or collectible items. This could cost anywhere from $15 to $270. Its coverage will simply extend the terms of the warranty already owned from the manufacturer.
* A Purchase protection plan, for something bought with your credit card that is damaged or stolen within 90 days. You may be able to receive a refund of the purchase price. However, the protection has exclusions, including items that are lost without any evidence of a wrongful act or are stolen because of a lack of due diligence. Used, antique and collectible items generally are not covered. Refunds could be limited from $300 to $1,000 per item depending on the card company and there can be caps on the total refunds received by cardholders.
* Lost-luggage reimbursement, that reimburses card holders for the cost of luggage and contents that has been lost or damaged by a common carrier (plane, train, helicopter, ship or bus). There are restrictions and limitations and they vary based on the card issuer and payment network. You could pay up to $180 to purchase additional coverage for lost luggage from the airline, typically at $6 per $100 of value.
* Roadside assistance, so if your car breaks down on the road, and if you are a specific distance from home, the credit card company will send someone to the rescue. You may still be charged for any services received like towing, jump-starts, gas delivery or tire changes. If you had to purchase this, it could run from $38 to $80 a year.
* Concierge service, may be available that can help you book travel, make restaurant reservations, get tickets to concerts or sporting events, pick out gifts, or plan a party. You will pay the cost of all services or items received, so if you are a power shopper or on a tight budget, you're better off doing your own research. Many premium credit cards that offer this service have annual fees that could be high. If you had to pay, it could cost from $25 to $55 per hour. Hourly rates vary depending on the location and vary depending on the type of services performed. Find a credit card with the perks you desire today. Retail Store Cards
Retail store credit cards are not through a major credit card company, but they report to major credit bureaus. Consumers who don't have any credit usually begin to establish credit using a retail store card. The card is issued by the store and can only be used for that particular retail store. These cards can be easier to get than other major credit cards even though they are similar to regular credit cards. With retail store cards, charges are made on the card and then the cardholder is given a grace period to pay the balance.
When retail credit card balances are not paid, interest is charged. Retail store cards are usually easier to get because the retailer is guaranteed to get your business as the card can not be used at other places. When charges are made the store is making money off purchases, fees, and interest charges.
Usually there are perks offered when a person applies for a store card. They may be offered a discount on purchases made on the day they signed up for the card. It is usually tempting because a person can save on their purchases and keep their money for that day. Discounts may be offered along with a free gift or merchandise from the store. Cardholders usually get special notices about sales before the general public does and may receive rewards for using their store card.
Retail store cards can sometimes have perks that make them very worthwhile and can help a person manage their budgets by getting get good deals on sale items. Yet using a store card for shopping and making too many charges can still lead to card debt. Store Charge Cards
It may not be worth saving 10% on a purchase by applying for a store credit card. Opening a new card puts an inquiry on credit reports. The credit reporting agencies may view the inquiry as unfavorably and it could lower credit scores. How much credit scores are affected will depend on your overall credit history, how high credit scores are, and how many inquiries are on reports. The more inquiries, the more credit scores will be penalized for each inquiry. Too many inquiries on credit reports may sometimes indicate problems.
Many store cards only offer a few thousand dollars worth of credit. This can keep you from running up a super high balance, but it can negatively affect credit if charges are made that are more than 30% of the available credit. Make sure you want to risk adding an inquiry on credit reports before deciding to get 10% off by applying for a store card. Store Cards
Huge retailers and department stores issue store cards that are often attractive and offer lots of perks for shoppers. The interest rates are probably the highest among credit cards and the rates may range from 18% to over 20%. With high interest rates, they may not be worth having. Store cards are about like credit cards but can only be used in the shop that issues the card. They can be easy to obtain, but they will not be of much use when you want a card that can be used at any store.
The store that wants new customer will offer incentives to try to get consumers to apply and give a certain percent off purchases at the time of the application. Other incentives could be offered like certain days to shop to save money or points as a reward for future savings. Some store cards offer a flat interest rate without any thought about credit scores. This is not the type of card that will save money if the card holder keeps a balance that is never paid off each month, because of the interest fees. A negative point is that they usually offer low credit limits. Credit scores can be affected when there are high balances due for low credit limits. Store Credit Cards
Businesses sometimes use store cards as a method for purchasing products for the company and as a way to track company expenses. This can help give a company two card options, using regular credit cards and store cards. The store card will only allow the business to use their card at their specific store but when they supply items that are needed, that can be helpful. The down side is that the card can't be used just to make charges anywhere other than that store.
When a company chooses to use a store card, issued by a vendor, they probably use a high volume of business-related goods and services. This ensures that all of the expenses charged to the card will be business-related. For new business just starting out and unable to get approved for a regular credit card, this may be the only option available. Sometimes when the card is first used, some merchants may provide a discount on the total purchase. If a balance is carried each month, carefully review the card’s APR to make sure it is not higher than that of other credit card issuers, typically store cards have higher interest rates than regular cards. Store Cards
Big retailers and department stores issue their store cards to shoppers along with a lot of perks to get them shopping. Shoppers need to beware as there can be high interest rates - higher than regular cards. Some charge in the range of 18% to 31% and are normally more costly to have. Making charges may not be worth the added fees.
Store cards usually offer lower credit limits than traditional unsecured credit cards even though the interest rates are high. There are millions of store cards available and consumers can usually sign up at the register and begin making charges. Applying for several store cards over the course of a few days can cause inquiries on credit reports and that could lower scores or signal a warning to lenders.
Though store cards can be attractive, consider that a 10% discount on purchases now may cost more money in the end. Weigh the options of just using a regular credit card or paying for the purchase with a check card or debit card. With most reward programs, points are earned for rewards toward future purchases at the shop or department store. You may have to spend hundreds of dollars just to get a few rewards or points. Make sure you really want to spend a lot of money just to get a little reward and high interest fees added on your bill. Store Charge Cards
If you wondered if the Credit Card Reform affects store cards, it does. The new Federal Reserve rules may make it more difficult for customers to receive a retail charge card. A rule was passed Jan. 12, 2010 that will require retail outlets to determine that a consumer can make the minimum payment on the credit card before they can issue the card. The store may have to consider the consumer’s income, and this concerns some retail stores.
It would be difficult for stores to certify income at the point of sale, which is usually where the card is issued. According to some, credit scores and payment history are still the best ways to determine if a person is able to make payments. The Feds are aware of the reliable ways to estimate income that some stores have available and there may be some ways to obtain income information from a third-party. One point to remember about store cards is that their interest rates can be much higher than a traditional credit card. Also, using a store card does not allow for the cardholder to shop or charge at most locations, they must only use the card at their retail stores. If you think you may only get approved for a store card, consider checking other available credit card offers. |
| ||||||||
