Cash Back, Reward and Affinity Credit Cards
Credit cards that offer incentives are most suitable for people who are likely to pay off their balance in full each month. If you're clearing your balance every month then you're not paying interest. If you're not paying interest then the interest rate is not so significant, so why not look for a card that will give you something for nothing?
Credit card incentives include:
- Cash back (usually calculated as a percentage of each transaction)
- Air miles
- Points (which can be exchanged for goods)
- Discounts
- Contributions/donations to charities, clubs and organisations
Bear in mind that if you don't pay off your credit card in full each month, the interest you are charged is likely to outweigh the benefit of any rewards.
It is also worth noting that some card companies now charge for enrolment on their reward schemes.
Please note: TheMoneyFactor.co.uk makes every effort to ensure that all our information and the results from our calculators are accurate and current. However, we cannot guarantee 100% accuracy and cannot be held liable for any errors.
Nothing within TheMoneyFactor.co.uk website is, or shall be deemed to constitute, financial or other advice or a recommendation to purchase any product or service. Any and all information provided within TheMoneyFactor.co.uk website is for general information purposes only.
TheMoneyFactor.co.uk advises that you always check with the finance service provider before signing any agreement or purchasing any product.
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