Reward Credit Cards

In the UK today we spend over £trillion on our credit cards! During peak hours major credit card companies can be transacted over 20,000 payments a second! No matter how you look at it, that’s big business and there are lots of profits to be made by card issuers. However, where there is money to be made there is also going to be a lot of competition to get a piece of the pie and the card business is no different is this respect. As such, nearly every card provider no offers potential customers rewards to entice you to join their program and not one of their competition. Knowing what reward cards there are, and how to maximise your rewards program, have thus become central to every astute applicants decision making when it comes to applying for a credit card.

If you look around enough, today it is possible to find reward programs that are tailored to your needs. The following are just some of the reward credit cards on offer:

Airmile reward credit cards

Leading the way in the rewards programs credit card issuers provided to their loyal customers was airmile reward credit cards. Similar to frequent flyer miles, this program gives you airmile rewards with every goods or services purchase you make on your card.

Cash back credit cards

Very popular with those who can manage their debt finances sufficiently well enough to repay their entire balance each month, the cash back program rewards members with a cash percentage of their purchase price. Typically the cash back amount is in the region of 1% of the purchase price.

Discount credit credit cards

Similar to cash back credit cards, discount credit credit cards give cardholders discounts at selected outlets that are members of the program. A great card to have if your favourite shop just happens to be a program member as you get a discount on your purchase and you don’t have to pay until you get the credit card bill!

Charity credit cards

Another popular rewards program, as the name suggests this type of credit card rewards program will make a donation to your favourite charity with every purchase you make. Typically donations are a percentage of your purchase price (with some threshold ceilings). Very popular cards include the World Wildlife Fund and Oxfam.

Gas credit cards

Gas credit cards let you pay for your petrol on your card and also give you rewards so that every now and then you can get a tank of petrol for free. With the way petrol prices have risen over the past year, this rewards scheme could end up saving you a small fortune in the future!

Although credit card companies are in cut-throat competition to get you business by providing you with reward credit cards, you should still read the terms and conditions in the application form careful because in some cases the rewards are forfeited if you do not claim them within a specified period.