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Customers who have an excellent credit score or credit history are usually pampered a lot when it comes to credit card rewards. A whole range of rewards are offered to credit card holders with great credit history. It is only imperative that customers make good use of these rewards and make as much savings as possible, indirectly cashing in on their credit history built over the years. Here are some examples of how some of the best credit card terms are on offer for customers with excellent credit.
No interest balance transfers
With excellent credit, card customers are offered balance transfers where the introductory period is as long as 21 months. During this period, not only is there zero percent interest on the balance, but neither is there an interest on the purchases. This means, card holders can save a lot of money in the form of interest on heavy expenses. For example if the introductory period is 12 months and the customer made purchases worth 5000 dollars over the year, the interest saved, with a minimum rate of ten percent would still be a substantial, 500 dollars. Thus, the card holders with excellent credit can save all that money.
Low interest rates
It’s important to note that even after the balance transfers, the interest rates or APR offered to customers with excellent credit is as low as ten percent.
Credit card customers are receiving incentives of a thousand bonus miles every month for a whole year. All the card holder needs to do, is make a purchase every month and the customer can then use these bonus miles. The good news is that these bonus miles don’t expire either. So, card holders can use the bonus miles when they need to and not necessarily in a hurry.
Use miles for discounts
These miles accumulated over a period of time could be redeemed for discounts on airline tickets, hotel stay, car rentals and restaurant bills. They can also be used for merchandise, gift cards and sometimes even cash. If you are one of those customers spending at least 500 dollars a month, you can save up to one hundred dollars’ worth of points by the end of the year; this could come quite handy for your holiday shopping. If you have made massive expenses through the year, the discounts go up as well. In fact, the redemption can be done usually on any day, without the inconvenience caused by blackout dates which prevent customers from making use of their discount miles.
Rewards need not always be in the form of discounts on airline tickets or cash backs. There are credit cards which waive the annual fee, currency conversion fee and over limit fee for customers. For those customers who keep revolving debt, month after month, travel a lot and have high expenses, these waivers come as handy savings on the credit card bills.