Things To Look For When Comparing Reward Credit Cards

Things To Look For When Comparing Reward Credit Cards

Credit card users want the best rewards programs and, traditionally, it is the companies with the least amount of accessibility that offer the greatest rewards. In order for a credit card company to offer rewards to its clients, the company must cover the costs through higher retailer rates or greater interest rates. If the credit card company chooses to charge higher service rates for a business to accept their card, than fewer businesses will choose to allow payment through them. On the other hand, if the client covers the cost via interest, than the card itself becomes a greater liability risk.

The consumer's objective is to find the credit card offers from companies that offer the best compromise between rewards points and usability. In the UK, rewards credit cards with the best reputation are from American Express. While Discover cards offer many reward programs, they have traditionally charged the retailers too much, so few businesses accept their services. American Express (AmEx) does charge a higher rate. However, it has worked to find a medium between client and customer fees that enables its cards to be accepted at most establishments. MasterCard also offers a variety of moderate rewards credit cards that strike a good balance between the consumer and the retailer.

The most popular type of rewards card in the UK is the airmiles credit card. The AmEx British Airways card has a favorable program that offers one thousand bonus miles to customers that spend more than 5,000 in the first three months. The card then offers one mile per pound spent thereafter. With an interest rate just below 20%, the card is not so dangerous that spenders will be financially woebegone if payment in full cannot be achieved. Another version of the card, which comes with an interest rate of 46%, offers 18,000 miles when you spend 3,000 on the card in the first 3 months. The Tesco Bank MasterCard offers the lowest interest rate for rewards cards and offers rewards points for every pound spent.

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