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Credit Card Extras – Explained

July 7, 2011 | Credit Cards | No Comments

If you’re looking for a credit card, you might be aware of the fact that credit card providers can offer certain ‘extras’ with their cards to help you get started.

In this short guide, we’re going to look at some of the most common extras offered with credit cards to help you make your mind up when it comes to deciding which card to go for.

Rewards for spending
Some credit cards are advertised as offering ‘rewards’ when you make purchases using them. This usually means that whenever you make a purchase with your credit card, you will be given a certain number of ‘points’ (how many will depend on the amount you spend).

These points can then be redeemed against items in selected stores. In some cases, for example, you’ll be able to purchase shopping vouchers or get money off your supermarket shopping. Other cards may allow you to donate your accumulated points to charity by buying things for a community in need.

Cashback
A lot of credit card providers offer cashback deals with their cards. This basically means that you will receive a percentage of the money you have spent on your credit card back. Deals like these might only last for a set period of time – so make sure you check how long the deal runs for before opting for a card offering this extra.

0% balance transfer
If you want to transfer the balance from one credit card to another, some credit card providers offer this service for a fee (often around 3% of the balance transferred). This basically means the debt you’re moving across won’t grow while the interest-free period lasts.

0% interest on purchases
If you’re planning on making some big purchases with your credit card, this particular extra could be helpful. 0% interest on purchases basically means that any purchases you make on your card won’t have interest charged on them. However, these offers tend to have a time limit – so make sure you look into this before applying for your card and making your purchases.

Useful credit card guides and information:

 

 

 

 

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