Mark Carolin

Posts Tagged ‘Credit Card’

These days, the price of gas can make filling up a painful experience for your wallet. If you find yourself budgeting more and more for fuel each month, a gas rewards credit card may be the perfect solution. With options such as cash back programs, gas rebates and more, you can find the best gas rewards credit cards for your traveling needs.

How They Work

Gas credit cards are similar to other rewards credit cards. You receive benefits when you make purchases. In addition to offering rewards for gas purchases, some gas credit cards also include rewards for auto maintenance and other items. These may come in the form of points earned for every dollar spent. In other instances, a certain percentage of each purchase is given to you as cash or in a rebate form. Some gas rewards credit cards offer up to 5% cash back, which is hard to find in other rewards credit cards. If you earn 5% cash back, and spend $300 in gas, you can expect $15 in return. That can add up fast with a long commute or many hours of highway time.

What to Remember

Before you apply, you’ll want to research your options and evaluate your credit situation. Here are a few other factors to keep in mind:

- The interest rate: Many gas rewards credit cards come with an initial low or 0% interest rate. However, after an introductory period, a regular APR sets in. Sometimes this is higher than other credit cards. If you pay off the balance each month, this will not affect your savings on gas.

- The rewards system: Some cards grant higher rewards for gas purchases. Others include benefits for all purchases. Understanding what these are will help you plan before you fill out an application.

- Additional terms: All credit cards come with certain terms and conditions. You’ll want to be aware of the fine print, which will list annual fees, the amount of late fee charges, and how rewards are distributed. For example, the phrase “up to 1%” may mean that you will not initially earn 1% cash back. You may earn that percentage only after spending a certain amount of money. By being aware of these conditions, you will be able to better manage your finances.

Determining which Gas Rewards Card is Right for You

A gas rewards credit card may be a perfect fit for your budget, especially if you spend a lot of time on the road. As you conduct your search, consider the Discover Open Road gas rewards credit card. This card offers 5% cash back on gas and auto maintenance purchases. As an added bonus, you’ll start off with 0% APR for up to 12 months.

Another card to consider is the Chase PerfectCard MasterCard. For the first 90 days, you’ll receive 6% in rebates for all gas purchases. After that you’ll get 3% in rebates from any gas station. This credit card also includes 1% in rebates for other purchases.

Once you receive a gas rewards credit card, you’ll find the benefits add up quickly. Use the card for car-related expenses, and consider using it for other purchases if you’ll get additional rewards. Your gas budget will thank you.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com

Banks and other financial institutions issue a new type of cash back credit card or cash rewards card. This is loved by most people because when you make a purchase you receive not just a discount redeemable at another merchant but actual cash credited to your account in return.

This particular card offers cash back to anyone of its holders, this is also a way of gaining more customers because the business world is very competitive. Most of the various cash back cards done charge that yearly fee, some of them do but it is not applied until the second year of transactions.

A lot of these companies offer some good rewards. The rewards which are earned can be traded in for other things such as rebate, cash back, gift certificates etc. To apply for one of these cards you will have to go online where you can find many different choices you should also compare the different rewards offered then make the write choice that suites you.

These cards are ideal for people who actually like to pay there monthly bills on time in order to get the various promo rewards. Overall this card is the best thing for people who use there cards to basically do everything like buy groceries and all the other things the only thing that people should realize and not forget is to pay their monthly bills.

In order to get a cash back credit card you will have to have a good rating in order to get the proper benefits. On final thing is that the issuers have certain programs you can choose from as well.

Today, credit cards are becoming a very popular commodity among consumers and small business owners alike. It’s no wonder that banks are feeling the competition as better offers from competing banks keep getting better. The new craze is the “incentivized” credit card. You may know them as rewards or cash back credit cards.

Banks encourage spending with their issued credit card by giving back to the consumer in the form of cash or rewards points that you may redeem for merchandise or even airline miles. Although this may seem like a win-win situation, there are advantages and disadvantages to both types. Let’s explore this further.

Rewards Credit Cards

As sated before, a rewards credit card allows you to earn points for each purchase you make using the card, which can be redeemed for prizes or merchandise when enough points are accrued. A major disadvantage to a rewards card is that most of them only allow you to accrue points if you buy something from their allowed merchant list. This can be great if you shop at a store on their merchant network frequently – however the drawbacks are very obvious. Another disadvantage is the lack of merchandise or prizes available for the consumer to redeem. Although banks are getting better at creating a wider selection, you are still limited to what they allow you to purchase with your accrued points. Most cards also require a minimum amount of points to be accrued before spending. This can be a hassle if you don’t use the card much, or the prize you want is far out of reach.

Before applying for a rewards card, be sure to check out their merchant list. If you can’t find anything you like, you’re probably better off elsewhere.

Cash Back Credit Cards

A cash back credit card allows you to directly earn a percentage of every dollar you spend using the card. Many people prefer this type of rewards card because it is a no hassle, no haggle way of earning back for every purchase you make. There are no points to redeem or accrue, usually no “merchant network” to mess with, and no minimum required spends to earn back cash.

The only real drawback to a cash back card is usually the amount you gain is fairly insignificant to the amount you spend. A rewards card will generally give you more points per dollar spent than the cash back card will.

The Verdict?

The real choice is up to you. Do you prefer the no hassle, yet small amount in cash back over a rewards card that limits you to a few select merchants?

Cash back and rewards credit cards both have their advantages and disadvantages. Which is best for you?

Many credit cards these days have a reward program. People generally choose a reward program with their credit card if they are going to be able to make use of the reward. It is fantastic to be able to earn points towards filling up, each time you use your card. With gas reward cards, you can earn points so that when you fill your tank, you end up paying less. With the way the markets are and how crude oil fluctuates, most people will benefit from this type of reward program.

Some of the cards on offer tend to have a fairly high APR (annual percentage rate), but there are cards available that offer a 0% interest introductory period. For example, the Capital One