Credit Card Questions & Answers

Related FAQ's & Guides Q. What kinds of rewards can I earn with a credit card? The main types of reward credit card on offer, include: cash back, air miles (or frequent flyer miles), travel rewards and discounts, retail rewards and discounts, charity donations and football team contributions / rewards. Q. How do I find out which reward credit card will offer me the most rewards for my spending? A. Reward credit cards are great for anyone who uses a credit card regularly to pay for goods or services and who always repays their balance in full. Q. Which shops offer retails rewards credit cards? A. If you are an avid shopper then these cards can come in useful, and you can enjoy discounts on everything from entertainment to a new car depending on which retail rewards credit card you choose. Which Reward Credit Card is Right for Me? There is a vast array of reward credit cards on offer, covering almost every niche from BMW owners to book worms. Does your Reward Credit Card Live Up to its Name? If you've previously been tempted by the lure of point based reward schemes, is your reward credit card earning you a plentitude or a pittance?

THERE are a number of rewards schemes available on credit cards in the UK these days, and this means that consumers can enjoy a choice of benefits simply by using their credit cards to make purchases.

When you compare reward credit cards you should make sure that you look for rewards that will prove useful to you. Amongst the rewards available are:

• Cash back
• Loyalty points to redeem against various goods
• Discounts from selected retailers
• Travel based rewards
• Air miles
• Charity donations

Making the most of a rewards based credit card

A rewards based credit card is a great way to get a little back from your credit card company in exchange for your custom.

However, it is important to remember that the only people that will really benefit from rewards based cards are those that use their cards regularly and then repay the balance in full each month.

This is because regular use of the card will enable you to accrue maximum rewards and full repayment each month means that you will not be hit with interest charges, which can otherwise counteract any rewards that you accrue.

When comparing reward credit cards it is important to think carefully about the type of reward that you will most benefit from.

For example, if you travel abroad a lot then you could benefit from an air miles credit card. If you want to enjoy earning money back on your spending then a cash back credit card could prove beneficial.

Also, remember that the level of rewards offered can vary from one card provider to another, so it is important to compare different rewards based cards to find one that offers maximum rewards.

There are many different rewards to select from these days, with something to suit most needs. This includes cash back credit cards, where you earn a percentage of cash back for each pound that you spend; air miles credit cards; travel rewards credit cards; loyalty point credit cards; and even charity credit cards, where the card issuer will make a donation to charity based on the amount that you spend on your card.

If you do not tend to pay off your balance in full each month then a rewards based card is probably not the best choice for you. You may fare better with a 0% purchase credit card or a low interest rate credit card.

Also, remember that rewards are not applied for cash transactions on these credit cards – you can only earn the rewards through making purchases directly on your card.

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