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Research: The advantages of privileged credit card reward schemes -

A credit card is one of the ways of expressing the fact that one has truly arrived. There are plenty of credit cards out there with different rewards schemes. And nowadays, everybody is being offered one and there is not much exclusivity left in this category. But you can get yourself a privileged card by doing some intelligent shopping.

Different cards will offer various rewards such as points that can be added or cash back on purchases. These rewards are given out on all types of credit cards, be it travel cards, student cards, debit or prepaid cards. All you have to do to take advantage of these rewards is to use the card. The simplest way of rewarding you would be that they will provide you with cash back on the purchase that you just made. You might also get merchandise or bonus activities as gifts. Privileged cards will not have many restrictions like regular cards. But getting them is a tough task as you need to qualify as a credit worthy individual. Frequently using your card and making regular repayments without defaulting on them is the best way to get yourself a privileged credit card. And having such a card will open up select clubs and other exclusive memberships.

The new scheme that customers are now being asked to follow is to spend more and earn more. Now it does not mean that your sources of income are going to magically multiply, it’s just that you will get cash back on your expenses. And the more you spend; the percentage of cash back will increase. It starts off from as low as five percent and it can even go up to thirty percent on some cards.

Airline and travel rewards can also be redeemed instantly. Frequent travelers will find that they will be flying for free on at least twenty percent of their journeys if they are frequent flyers. And in privileged cards, the foreign transaction fee is non existent. You can use your card overseas without any extra charge being applied on your account. Now this is a good thing for people who find themselves overseas more often than not. And with privileged cards, you can redeem the points after making a substantial accumulation. You do not have to waste them on small trips that you do not need. You can accumulate for a long time and then make a booking to your dream destination at no cost to your account. You can also use the remaining points for car rentals, hotel bookings and fun activities. There will also be no restrictions imposed on the destinations or the seats that you can choose.

Earning gas miles was never this easy. The quantum of points that you earn will keep increasing with increased usage. If you gained one percent when you were driving just ten miles a day, now you will get ten percent back if you start driving a hundred miles a day. This is the advantage of using privileged cards. They reward you for using your card more.