The upsides of credit card rewards

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The upsides of credit card rewards


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

When used in the right manner, credit cards have a wide number of rewards and benefits. Using this method of payment however, can have consumers facing massive debts. Using credit cards carefully, consumers are entitled to a number of rewards, which can be in the form of gift vouchers, or even cash.

Credit cards in general, feature different forms of reward points within their marketing programs; users now have the ability to earn points on items they purchase. With these points in hand, they can redeem gifts such as discount vouchers, coupons, books, personal care items, shoes, accessories, airline tickets, etc. Depending on the credit card company, the rewards offered is based on their point programs and will differ.

Many credit cards also have a balance transfer option. This is a great choice as it empowers consumers to have their complete outstanding balance transferred to another credit card account. After doing so, individuals can then make payments to the other company in parts by monthly installments or as pre-decided. Consequently, this prevents them from falling into huge debts. As part of the transfer facility, what is required only is a one-time processing charge. More often than not, interest with the installments after balance transfer is low and should work for individuals who are compulsively indulgent buyers.

Ranging between 40 to 50 days, a credit period further provides consumers with the chance to make their payments on purchases at a later time. With a bill cycle date, consumers has a grace period that allows them to pay according to their convenience. In case of an emergency, this can be seen as a great opportunity. The benefits accompanying the wise use of credit cards cannot be ignored. Hence users must make their choice of service provider very carefully.

With credit card rewards as an added perks, a credit card can be very advantageous. Easily classified as a secure alternative to cash in real time, credit cards have a minimal risk if lost or stolen. Upon losing a credit card, there is always the option of blocking it immediately. Being able to do this lowers the chance of unauthorized access to nearly zero.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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