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Credit Card Incentives
Credit card companies want your business. After all, lending
money to people is profitable. Besides the interest fees that
you'll be charged, the credit card company also collects a fee
from merchants who accept their credit cards. In order to get
your business, most credit card companies are willing to offer
you some great incentives - not only to apply for one of their
cards, but to use it for everything from car rentals to weekly
groceries.
Among the incentives that you might be offered for using a
particular credit card are frequent flyer miles, phone call
minutes, rebates and cash-back on purchases, insurance on your
purchases and more. Here's a list of some of the most popular
incentives. Check around to find a card that offers incentives
that make sense for the way you use your card.
Rebates
One of the most common incentives for using your credit card
is a cash-back or rebate offer. Generally, you'll get 1-5% back
on various purchases. Depending on the credit card, you may get
1% back on most purchases, and 5% back on purchases made at
convenience stores, gas stations, grocery stores and 'member
merchants'. The rebate may be in the form of a credit on your
bill, a gift card for $10, $20 or more dollars when you reach
that amount in cash rebates, or a check sent from the credit card
company.
Frequent flier miles
Another common credit card incentive is frequent flier miles
that can be used on a number of airlines for personal and/or
business travel. Check the individual cards' terms and conditions
to find out exactly how to redeem your frequent flier miles.
Phone Minutes
A new incentive being offered by several credit card companies
is phone minutes to use with your cell phone account. Redemption
is generally via a phone card sent when the amount of the reward
minutes reaches a certain denomination, but your credit card
company may have different rules and policies.
Additional warranty coverage for the items you
purchase
A few credit card companies offer extra warranty time or
coverage on items that you purchase using their card. The
additional coverage is only available on particular cards,
generally the Premium cards. If any item that you purchase using
cards that are lost, stolen or breaks within the stated warranty
period, the credit card company will replace it at their
cost.
Car rental insurance, Travel accident insurance or
travel-related discounts
If you travel often and use rental cars, then it may make
sense for you to have a card that offers insurance on you when
you're driving a rental car - at no extra charge. Likewise travel
insurance and travel discounts that may be available only to
holders of that particular credit card, or is available at
reduced rates to them.
Credit card registration
Some credit card companies offer to register all of your
credit cards so that if your purse or wallet is lost or stolen,
you only need to make one call to alert all of your credit card
companies. It's a handy perk to have, especially since it's easy
to forget a card you don't use often in the heat of the moment.
Taking advantage of a credit card registry is one way to be sure
that all of your creditors are notified that your cards are
lost.
Joseph Kenny is the webmaster of the credit card comparison
sites http://www.credit-cards-info.com/
and also http://www.creditcards121.com/
MORE RESOURCES:
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