Benefits of using different credit cards with different deals
With so many credit cards on the market there really should be one to suit everyone’s needs.
Whereas some may look for a low interest rate on their unpaid balances every month, others pay each monthly bill in full every single time and so it is obvious that these savvy consumers will be searching for something a bit different from their credit cards...
Some benefits and features that may appeal to this type of borrower are cash back deals, the interest free period available or perhaps even loyalty schemes.
Whilst these offers will not appeal to everyday folk who cannot afford to pay off their balances the lowest interest rate on their unpaid debt would be top of their lists.
Research shows that there are currently around 80 “incentive” based credit cards available offering a variety of features including cashback and airmiles.
An average cash back deal can offer between 0.5%-1% of your monthly credit card spend.
Loyalty schemes are good but only ideal if the companies selected offer the type of goods you want to redeem the loyalty points you are rewarded with.
If you are good at balancing your budget and keeping a grip on your finances paying the bulk of your day to day expenses with your credit card whilst keeping the money aside to clear your balance on the next statement then good luck to you! If this is you make the most of it and turn it to your advantage and make some cash back from the credit companies by exploiting the incentives on offer.