Credit Cards With Rewards – Are They Worth It?

Credits cards are available that offer all sorts of “rewards” according to how often they are used to make purchases. Popular rewards are air miles or discounts off the cost of flights, but the variety is practically endless, with many stores and retailers also offering “loyalty” rewards for using a credit card issued in their name. Some cards will even earn you discounts on the purchase of a new car.

Are There Such Things As 0% Credit Cards?

There certainly are 0% credit cards – but that does not mean they can be used with complete abandon. A useful golden rule to remember is that practically any credit card can be 0%, provided you pay off the balance of any spending before the interest is applied. The only exception will be those cards that start accruing interest from the moment of purchase.

How Best to Compare Credit Cards

For the best comparison between the hundreds of different credit cards available, it helps to know just what kind of credit card user you are. If you have no hesitation about using your card, but are equally disciplined in paying off any balance each month, then you can take full advantage of the effective “interest free” period between purchase and each monthly settlement date. On most cards, this will allow you a reasonably long 59-day period of grace – though there are some which grant a shorter period, and others which allow none at all, so you would need to be careful to avoid these.

Finding a True Credit Card Deal

You receive a credit card offer through the mail. It says that you can borrow up to $2000 at 18% interest per annum and pay as low as $40 per month. It sounds like an excellent deal and the monthly payment on most credit cards is usually calculated at around 2%. At 18% interest, you’ll be paying $30 as interest and $10 towards principal. At this rate of $40 a month, you’ll take 30 years to pay the principal and interest. Think again! You cannot afford this kind of credit card. You need to chase a credit card that charges a low interest rate.

What Makes the Best Credit Cards?

There are a number of important milestones in the short history of credit cards since the first were launched in Britain on 29th June 1966 (the “Barclaycard”). Perhaps the most significant milestone, however, is in 2004 when expenditure on this plastic medium exceeded expenditure in cash in this country. Today, the Association for Payment Clearing Services (APACS) estimates that most consumers pay for at least half their purchases with a credit card.

How to Get Your Free Instant Credit Score

If you are in a hurry to learn your credit score right away, you could be frustrated to learn that not all credit reports are available instantly and they don’t always include credit scores in the report. Even more confusing is the fact that you have not one credit score but three, one for each credit bureau and they are not always the same. Read on as we decipher the world of free credit reports and show you how to get your free instant credit score without hassle and confusion.