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Best Credit Card for Travelers

admin — Mon, 06 Oct 2008 21:59:25 +0000

Credit cards are essential for every traveler. You can use it to purchase your gas and utilities, you can use it to finance your hotel and accommodations, and you can even use this card to book your flights.

If you are planning to get a credit card for the purposes of traveling, you should not settle for just any type of card. Rather, you should get a credit card that lets you earn a certain percentage of what you spend. You ought to get travel rewards credit cards. Travel rewards credit cards will let you earn “reward points” which can be exchanged for various incentives. Such is the perfect way to save some money while you frequently travel.

Reward points earned through travel rewards credit cards can be used for a wide variety of purposes. They can be used for plane tickets, car rentals, hotel and resort accommodations, gas expenses, and more. Some of the best credit cards for travelers are as follows:

The Capital One No Hassle Miles

This card comes with an approximate APR of 13.9%. It has no annual fees and it lets the cardholder earn 1% from all the purchases they make using the card. Other than that, this card provides a 25% bonus on the rewards earned for every year. If you opt for the miles variety, you can also earn 1.25 miles for every dollar that you spend using your card. If you spend it on bookstores, boutiques, gift shops, and video rental stores, you can even earn two miles. What’s highly remarkable about the Capital One credit card is the fact that it doesn’t charge foreign currency conversion fees.

The Discover Open Road

This offers a very low APR of 10.99% fixed. The Discover travel reward card allows you to earn 5% from all your expenses for gas and auto-maintenance services. It also provides 1% cash back on your other expenses. As such, this card suits people who are frequently scheduled to cross-country road trips.

The Citi Premiere Pass

With this travel credit card, your APR will only amount to 13.24%. Just like other travel cards, you will also earn a reward point every time you spend a dollar, and another point for every three miles traveled by flight. Also, users of this card will receive $1,500 as travel insurance for flights booked through the use of this card. Citi will also reimburse the non-refundable part of your flight expenses every time you reschedule or cancel your trip. This is perfect for emergency-prone travelers.

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Cash Back Rewards Credit Cards – Are They Any Good?

admin — Mon, 29 Sep 2008 14:41:43 +0000

Nowadays, you can get credits cards that offer all kinds of “rewards” depending on how often you use them on your purchases. Some of the rewards they offer would be:

Travel mileages
Fuel rebates
Gift certificates
Partner stores discounts
Loyalty points
Cash rebates

Credit cards that have this kind of promo are usually called Reward Credit Cards or Cash Back Credit Cards. However, although their offers seem to be tempting, it is still important that you analyze carefully whether the offer can save you money or simply encourage you to splurge if you take the bait.

What is the APR?

Whenever you get offers like this, one important question should cross your mind: Is it worth it? To answer this, it is important that you look at the interest rate that would be applied to your “rewarded” credit card and compare it to the rate given to those “non-rewarded” types.

Although there are numerous cards that offer some kind of loyalty bonus or reward, by simple comparison you will notice that the lowest interest rate that these types have would be around 15% APR. Basic or regular cards usually have 7-8% APR. Hence, cash back rewards credit cards charge you 7-8% more than the basic type!

In fact, if you compare the reward type with low-interest cards, the difference would even be greater. Not to mention that there are credit cards that have introductory 0% rate that is good for one year. By doing some APR comparison you will know whether a certain cash back credit card is a good deal or not.

How do you Pay Your Card?

It is important to determine what type of a credit card payer are you? This can also help in deciding if you can really benefit with cash back rewards credit cards.

If you’re a regular card user that pays part of your dues every month and not in full, it would definitely be logical if you go for lower-interest non-reward card. You could just buy things that you really need and avoid wasting money paying for higher interest rates just for unnecessary rewards.

On the other hand, if you’re the type who constantly pays off your whole balance even before the due date, and generally does not want pay any interest, then the rewards that you’d get by paying on time would come as a good reason to get a cash back reward card.

So, if you think you have the discipline to pay your credit card company each month fully and in advanced, then you would really do well with a rewarded credit card. However, if you think you do not have this urge, then it is recommended that you just get a low-interest card.

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Money Back Credit Cards – WAIT, SO I EARN MONEY FOR SPENDING MONEY?

admin — Sun, 21 Sep 2008 00:31:28 +0000

Money back credit cards are exactly what they sound like, credit cards that give you cash back every time you use them. For the modern day family, credit card usage has become a daily matter, for a number of reasons. Using a credit card is safer then carrying cash around, can build your credit, and can lighten your wallet quite a bit. So now that credit cards are such a big deal, since you usually do have to pay to use them, why not see some of your money back? Who wouldn’t want to be paid for buying toilet paper and groceries? Most people would love that, it’s every head of the household’s dream, which is why credit card companies are sprouting up left and right offering money back credit cards to their customers as a great incentive to go with them rather than their competitors. The better the rewards, the more clients they get coming to their company for that daily spending. The more clients they have, the more money they make. The more money they make, the more they can give in rewards. It’s like an endless cycle, which helps out both parties.

Money back credit cards don’t only offer cash as an incentive but sometimes gift cards or gas cards (which we all need with gas prices going through the roof) and some companies even offer material items based on a point system. The question at hand however is seemingly, how do you choose a card that’s right for you? It’s simple.

Find a company that offers the perfect benefits to you with the interest rates and payments that you can afford, if Credit Card Company A offers money back credit cards that are 30$ more a month then Credit Card Company B, but Credit Card Company A offers frequent flyer miles and Credit Card Company B offers pampers coupons, take all factors into consideration. If you fly often, perhaps the extra money is worth the flyer miles. If you never fly or have only flown once in your life and have five kids Credit Card Company B is probably the way to go.

So after you’ve taken into consideration the fees and interest rates along with the specific rewards, then move onto another big issue, reward limitations. If your card gives you a limit of ten days to spend your rewards, that’s no good so it’s important to look for money back credit cards with little to no limitations.

The most important thing to keep in mind is that you have to make sure you fully understand all your options and make sure you read the specific terms so you don’t end up with a bad deal. This means reading the terms and double checking things with your banker to assure you are getting the best deal possible and aren’t letting one company’s money back credit cards be too persuasive for you to look harder.

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