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Reward credit card accounts are growing in popularity. From airline miles, to gas and shopping rebates – the options seem endless! But before you choose a specific offer, first you need to determine which reward system is best for you: points or cash rebates. Is it better to earn cash or reward points? Here’s the pros and cons of both types of programs so you can determine which one is best for you:

Reward Point Programs:

Points programs reward you by allowing you to earn a specific number of points (or miles) for every dollar you spend. The most common type of reward point charge card accounts are airline mile charge card accounts. But many other reward charge cards use this system too. Earn points from your everyday spending or earn additional points at specific ‘partner’ locations. These points then accumulate until you reach a pre-determined level where you can redeem your points for many different types of rewards such as travel, gift credit cards, merchandise and more.

PROS:

Points can be redeemed anytime (once accumulated).

Rewards are targeted towards your specific personal interests.

Receive extra bonuses and discounts at partner locations.

CONS:

Most points can only be redeemed for products or services.

Points may only be redeemable at specific locations.

You must accumulate a specific number of points to claim a reward.

Points may expire after a specific amount of time.

Cash Back credit cards:

Cash back programs allow you to earn cash (or rebates) based upon a percentage of your daily charges. Often it’s a flat rate, but some programs operate on a a tier-based system. Earnings normally range between 1% and 5% and sometimes vary depending on where you shop. The most common type of percentage-based reward program is a cash back charge card. But many other
reward charge cards, such as gas rebate credit card accounts, operate the same way.

PROS:

Less limitations and easier to use than points.

Receive CASH instead of pre-determine products or services.

CONS:

Many times, rewards are only paid out once per year.

May not receive higher incentives on specified products or services.

If tier-based, rewards may be difficult to follow or understand.

Less targeted towards your personal interests.

The Right Card For You:

Only you can determine which type of reward card is best for your situation. Compare the features
of different types of credit card accounts to see which one will fit better into your daily life and spending habits. Consider the types of rewards you can earn with a point charge card account and determine the amount you expect to accumulate with both types of offers. Then decide for yourself: cash back vs. points?

This article is brought to you by www.JemCreditCards.com – More than charge card accounts, we build financial stability. Compare the best credit card offers including Discover balance transfer cards, Chase credit cards, and much, much more!

written by Blogger Guru \\ tags: charge card, charge cards, credit card, credit card rewards

Today, charge card accounts are synonymous for convenience. There is nothing that cannot be bought with a charge card account. You can shop online; get movie tickets, reservations and much more with charge card accounts. It seems like there was no shopping possible ever before credit card accounts came into existence.

Every person out there has a charge card with him. But most of these consumers are consumers with good credit ratings. It is extremely easy for them to get a charge card with great APRs, terms and conditions etc. But what if you have not been so lucky about your credit score? What if you came across a financial situation that created a mess on your credit report? Then it will not be very easy to get a good charge card account for your. Then you will have to make do with a bad charge card account or card for people with bad credit history.

Bad Credit Cards

Technically speaking, there are no cards called bad credit card accounts. But let us assume that here we are talking about charge cards that are made for Americans with a bad credit history. These charge card accounts have very high annual percentage rates. While the conventional card has an interest rate of 10 to 12%, bad charge cards have an annual percentage rate that ranges from 27% to 39%. Now that is a huge difference. So you need to reconsider your decision before you decide to sign up for a bad credit card.

Review Your Credit Score

Oh, this process is so important for people with bad credit history. Believe me, it is more important than you can ever imagine. You need to review your credit report. It may contain some errors which can create a huge impact in the final credit score. Even a minute entry gone wrong can appear really badly on your final credit report. So the best thing to do is get your report from all three credit agencies and go through it. If at all you find any errors, you need to dispute them before you apply for any bad credit finance. If you are successful in correcting any errors, then you may no longer need to look at bad credit card accounts. You may very well succeed in getting a more conventional card with great terms, conditions and interest rates.

Do Not Apply For Every Credit Card

Just because you are finding it difficult to get a good charge card, you should never go about applying for each and every charge card that you come across on the internet. For those who do not know, each and every credit card account application of yours that is denied will appear on your credit report. So the next time you apply for another card, there are chances that it will be denied as well. So the trick is to plan and get all the details about the card before hand and then apply for it. You should be sure that the application will not be denied and only then should you think about applying for the card.

Building and Improving Your Credit Score

If you succeed in getting a bad charge card account, then you can still improve your credit score and covert it into a good charge card. The way that you can do it is by paying off all the payments on time. If you are really regular with the payments, in a due course of time, you will be looked upon as creditworthy. So the company will reduce the APRs as well as the annual charges on the card.

This article is brought to you by www.JemCreditCards.com – More than credit cards, we build financial stability. A great place to compare the best credit card offers including Discover credit cards, Chase cards, and much much more!

written by Blogger Guru \\ tags: bad credit, charge card, charge cards, credit card

Credit cards balance transfers using new accounts with zero interest rates for initial periods can be of financial benefit in 2 different ways. The first of those methods can save a lot of money on existing debts, and the second method can make you a genuine profit.

The first of these methods is ideal for those who already have borrowed money from such things as other charge card accounts or store cards etc. What you do is you move such borrowing onto the new account, thereby avoiding having to pay any interest at all for the initial period. This can be a huge improvement as the monthly repayments can be used to reduce the amount of the borrowing itself rather than just paying off the interest each month.

The second approach is to use the money from a zero-interest card to put into high-interest paying bank accounts, and so make a profit, because the interest you receive is more than the zero interest you are paying on that balance. Such balance transfers have even been used by some people to fund other more risky types of investments including major internet company start-ups, and movies, but obviously, this carries a far greater risk and should be treated with extreme caution.

So zero-interest credit card accounts can be used in either of those ways, to increase your financial progress. Some zero interest cards only apply zero interest to purchases, some only to balance transfers, and some to both.

The periods of no interest can vary, and might even be applied differently to different types of transactions on the card.

Some cards charge a different rate of interest on any cash withdrawals, and sometimes charge interest on cash from the time it is received rather than the billing date, and additionally sometimes apply any repayments to anything else before the cash balances.

So it is of course wise to check the details of a new card very carefully before using it.

Credit cards balance transfers, if used carefully and wisely, can be a very good thing for ones finances, so check all the details and find out how you can apply these to your financial advantage soon. Keep in mind that I said if used carefully. This is important, if you use credit cards in ways that they were not meant to be used, you will find yourself in more and more credit card debt. This is a position that no one wants to be in. Always remember just like with alcohol, always use credit cards responsibly!

This article is brought to you by www.JemCreditCards.com – More than charge cards, we build financial stability. Compare the best charge card offers including Discover cards, Chase balance transfer cards, and much, much more!

written by Blogger Guru \\ tags: balance transfer credit cards, charge card, charge cards, credit card