Credit cards that reward loyalty

November 1, 2006

With all the variety of credit cards on offer there really is one to suit everyone’s needs.

Some people look for a low interest rate on their unpaid balances every month, others pay each statement’s balance in full every time and so these consumers would be looking for something a bit different to be offered by their credit card provider.

Some influential features which may appeal to this latter group of consumers are cash back deals, the number of interest free days available or perhaps loyalty schemes.

Whilst these offers would have mass appeal, those NOT clearing their monthly balances would probably prefer to make the interest rate on their unpaid balances their number one priority.

Financial analysts at Moneyfacts estimate there are currently around 80 “incentive” based credit cards available offering a variety of the above mentioned features.

A cash back deal tends to offer you between 0.5%-1% of your monthly credit card spend.

Loyalty schemes are ideal if the companies appointed to redeem the loyalty points are with companies you regularly use/frequent.

If you are good at budgeting your finances and can pay for the bulk of your day to day expenses with your credit card whilst keeping the money aside to clear your balance once your next statement arrives, then good luck to you! Why not turn it to your advantage and make some money from the credit card provider through one of the deals/incentives on offer.

It’s rare for the consumer to win and we should all take advantage of this when the situation arises.