The definition of “best credit cards”, changes from one credit card customer to another. There are various permutations and combinations of credit card offers out there in the market. As such, credit card customers would be faced with a reasonable amount of confusion when they are looking for the ideal credit card to help them with their savings, bill payments and debt. There are various types of credit card customers. There are some customers who have a high income and also high expenditure. Therefore, they have a revolving interest and debt month after month. There are other credit card customers who are very consistent in paying off their debts in time, which means they usually do not have any outstanding balance at the end of the bill payment cycle.
Credit card customers who make their bill payments on time are usually those with a high credit rating. Their credit history is very good, and owing to their consistency, they are considered highly creditworthy. As a result of this, such credit card customers should be more careful in choosing credit card offers, as they have a lot of options.
The best credit cards for such customers would be credit cards with cash back offers or credit cards with frequent flyer or frequent shopper rewards, both of which are usually offered only to the higher credit rating customers. There are some credit cards which offer cash back extending up to 5%. The minimum cash back is usually around 1%, although it is higher for drug stores, gas stations, departmental stores or airlines tickets, depending upon the card and varying a lot from one card issuer to another. The cash back in such cases is usually offered as a reduction on the next month`s bill, which is very convenient. For some other credit cards, the cash back has to be redeemed by the credit card customer, by making more purchases or discounts on purchases. Both these cases do not help the customer in making any real saving.
Frequent flyer and frequent shopper credit cards, also bring many benefits to the customers with high credit rating. They can use these cards to avail discounts on airline tickets, purchases at shopping malls, entertainment and restaurant expenses etc. Most of these discounts should be unconditional to provide any real benefit to the credit card customer.