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Credit Cards: How to Capitalize Owning One?

submitted: Jul 18th 2008 | by: StevenJ.Talrechi
Total views: 5 | Word Count: 482 | | |

Credit cards compete for your business by offering incentives such as low introductory interest rates or rewards to new customers like free flights and cash back. These rewards are generally based on how heavily you use your card. There's a trick to these incentives and we'll show you how to take advantage of these incentive programs.

The credit card companies try to get new clients by offering rewards and perks, like cash back programs and free airfare for new customers. Low interest rates as an introductory offer are also common. These rewards usually are dependent on how much you charge on your credit card. However, there are ways to maximize what you can get out of these offers; read on to find out how to take full advantage of your credit card with these incentives.

Rewards cards: You should definitely look around for the best offer when it comes to cards that give you rewards. You want to look for rewards which will genuinely be useful to you. If you don't fly often, or don't charge a lot on your card, then it's unlikely that a card which offers free flights as a reward is right for you. These sorts of rewards programs often require you to spend a lot before you get a flight.

Shop around a little and find a reward that works for you. Cash back rewards are very popular. Be sure to read the fine print before you apply for the card. Ask the rep if there is a limitation on the amount of rewards you can claim. Some card companies will only allow you to claim a specific amount and once you get there, the rewards disappear.

Additionally, ask if there is a time limit on the rewards - they will sometimes only be valid for a limited time and will expire if you don't use them.

In the case of a gasoline reward card, make certain that there is an affiliated gas station in your city/town.

Low introductory rates: There are a lot of possibilities here. Say that you have a card with an APR of 19%. You make some small purchases and have a balance which is small enough that you can easily pay it off in 180 days or less. You then find an offer for an introductory rate of 9.9% - you can transfer the balance from your old card onto this one and pay it off faster, saving a lot of money on interest in the bargain. You can either keep your old card for emergencies or cancel it.

Keep this in mind - when the credit card companies compete, you come out on top. Don't be afraid to shop around for the best offer - the credit card companies want your business. You might be surprised by the deals you find!

Just be sure to ask the questions and do the homework FIRST. Haste makes waste, as they say.

About the Author

Steven J. Talrechi is an expert on credit for over 10 years. He authors various topics on said field, including application for a credit card, and different credit card offers.

Article Source: Unique Financial Articles

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