Rewards Program Credit Cards
Rewards Credit Cards are very popular these days because you can earn vouchers, holidays, goods and more with a rewards credit card.
Whether these are here to stay long-term is entirely dependent on the credit card gods and interest rates of course.
But while they are available to us why not make the most of the many choices we have and use them to our advantage.
How to choose the right rewards card:
It’s hard to wade through the many offers available to us without thoroughly investigating the plus and minus aspects of each one. Some offers definitely provide you with a better deal, earning more rewards points and providing you with benefits and discounts. Listed below are a collection of some of Australia’s most competitive reward programs.
Best Reward Program Offers
| Credit Card | Card Details | Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest free days (up to) |
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The good and bad of rewards credit cards
Once you find a rewards card that looks good to you it’s time for the showdown. It’s time to investigate the good, bad and ugly of their terms and conditions.
Read the small print, ask questions and most important of all, be informed about the annual percentage rate and the card’s interest rate.
Don’t fall for introductory rates of ‘0′ per cent unless you can deal with the rate once the honeymoon period is over.
Smart tips for credit rewards:
The following tips will help you to make the most from your credit rewards.
- Be smart: The more you know about your rewards card’s limitations the smarter you can be about taking advantage of the good stuff.
- Use your rewards: Letting them get to waste would be a shame and defeat the purpose of having one of these cards.
- Avoid carrying a balance: If you do, chances are the interest paid on it will negate all rewards.
- Check your statements: Look for irregularities and report them to your lender if applicable.
- Pay your balance in full: High interest are a nasty by-product of rewards credit cards. Therefore you want to make sure you pay off the card in full to avoid costly interest.
- Conditions apply: If you fail to pay your rewards card bills on time or consistently exceed your rewards credit card limit you could actually be barred from getting those rewards. Know thy rules and work them in your favour.
- Use your card: If you don’t use the rewards card a lot chances are you will not get enough rewards points racked up. Most cards are working best when used more than not. Replace cash expenditure, rip up your cheques and use your rewards card for every purchase and bill you pay.
- Cash-back rewards card: If for example you are short in cash you might prefer a cash back rewards card to take advantage of the actual cash you will be given in relation to your spending credits.
- Choose a card applicable to your needs: It is of no use to decide on a rewards card that won’t be working in your favour. If the card offers you free flights or cheaper flights by means of air miles you’d have to love flying. If the card offers you vouchers for music you’d have to love listening to music, etc.