Credit card cashback is just one of many credit card reward
programs available to you. As in the case of credit card
cashback, reward credit cards will offer incentives for using
particular cards at particular outlets or for services.
There are numerous credit card reward programs, all of which
provide cards that comes with particular incentives. The names
given to these cards will vary from country to country and
according to the different incentives they offer. For instance, the
following are popular terms you might well be familiar with:Travel reward credit card
Although these cards look very much like credit cards, their
main function is to identify you, the card holder, to a retailer,
as a participating member of their rewards and incentives program
and to reward you accordingly when you spend. When you present the
card, you are awarded points that can be used against future
purchases; or a discount on your purchase, or air miles etc.,
depending on which credit card you use.
To determine which credit card reward program or incentive
is best for you, will be down to your particular lifestyle or
When making a decision as to which credit card is best, bear in mind
that credit card companies are only too keen to attract your business.
Don't be afraid to shop around to secure the very best reward
credit card deal from the wide range of incentives being offered.
Do also remember that Credit card reward products will be of far
greater benefit to you if you settle your credit card bill in full
each month. That way you will keep the rewards you earn and not
have to pay it back in interest.
If you're wondering which credit card offer the best reward or
even whether a
credit card cashback would meet your needs, here are a few
more reward credit card programs to help you make your decision.
Which Store Credit Card Reward
Store credit cards are perhaps one of the most well known of the
reward credit cards. While they can offer tempting discounts
in excess of 10% or so, they also have very high interest rates
that can run as high as 30% if you fail to pay off the balance
by the end of the month. This effectively means that any gains
you accrue on your store card can be quickly eroded.
Your choice as to which credit card or store cards you choose
will largely depend on where you like to shop, how often you
shop there and the discount percentage you get. The discount
offered, make store credit cards a very good option for medium
to larger purchases. Simply spend, get your discount and clear
the balance when it becomes due.
College Student Credit Card
College students have little choice as to which credit card reward
program they choose. With no prior experience of credit cards, nor
credit card history, nor credit scores, college students present as a
risk to credit card suppliers who are in the business of
A college student credit card is precisely for this
reason and can be the gateway to credit card credit and building
a positive credit history. Students' credit cards are very much
like any other credit card, with the exception of one key feature,
i.e. it is a requirement that college students' credit card
applications are co-signed by a parent or guardian, who must act as
If you are a student, your choice as to which credit card will
best meet your personal needs will depend on the benefits that
particular credit cards for college students have to offer. For a
start, students' credit cards carry higher rates of interest on
account of perceived risk. Secondly, there are varying credit
limits - typically from $500 upwards but do expect a lower level
of credit than that which is usually offered on other credit cards.
Which Prepaid Credit Card
A prepaid card has no credit facility, however, it serves two key
functions. It is the ultimate in safeguarding both your spending
and your credit card credit safety. Prepaid cards work on the
basis that you are only allowed to spend up to the prepaid limit
that has been funded by you in advance.
You simply 'charge' your card with the amount you want to spend
each month. This offer you protection on two fronts - i.e. you
significantly minimise the risk of running into credit card debt,
as well as limiting your exposure to credit card fraud. Which
credit card you decide on will be dictated by the terms or
flexibility of that particular card. Some card issuers for
example, will allow you to top-up your card account with funds from
your current account, once you have reached your pre-set limit.
Which Travel Reward Credit Card
Another category of credit card reward programs is travel reward
or air miles credit card. The credit card holder get travel related
discounts or air miles points for purchases or for paying for
As is the case with all rewards programs, which credit card
you choose will be determined by your personal requirements. For a travel
reward credit card or airline reward card, it boils down to
how you travel and how much of your time you spend travelling -
whether for work, business or for pleasure.
The content on this site is purely for information purposes only
and is not intended to replace your seeking professional financial
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