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The key words "cash back" appeal to everyone, especially those who are on the lookout for more reasons to use their credit cards. It is even safe to say that this would arouse the curiosity of most people to at least find out how this concept works. In fact, the recent hype surrounding cash back credit cards has seen millions of consumers switching their regular cards for these ones. It all seems too good to be true that we are getting our money back for nothing. Well, if that's what you are thinking, read on to learn five reasons why you too should play the cash back game.

1. You charge everything to your credit card

The cash back incentive works well for those who charge everything to their credit cards. That's literally everything – clothes, gas, groceries, dinners, etc. With a cash back percentage of 0.5% - 1% (some may even offer an introductory 2%), you need to spend a huge amount in order for your cash back to be significant. Therefore, if you are comfortable with charging everything to your card, then cash back credit cards are all for you!

2. You pay off you credit card balance every month

Are you the disciplined credit card user who pays off your outstanding charges each month? If you are, then cash back credit cards are for you! As huge charges are made to these cards, not being able to pay off your balance each month will just result in greater interest charges as compared to your cash back value.

3. You have a good credit rating

Credit card companies usually award cash back credit cards to cardholders who have a good credit rating. So, if you are one of them, then you should really get one and start earning points today!

4. You get to redeem your points once you have enough

You gain points for every purchase you charge to your card. Once you have attained a significant threshold, you have a few options to redeem your cash. You can either get it credited to your outstanding credit card bill to reduce your balance payment, or you get the credit card to send cash to you.

5. A win-win situation for you, the credit card company, and the merchant

Take a closer look, and you'll see that cash back cards are a win-win for everyone. Credit card companies earn more through the merchant charges; merchants get more people to buy their products; you get cash back for making purchases! That just has to be the ultimate reason for you to get a cash back credit card today.

Alan Bernstein recommends Find Credit Cards to apply for a cash back credit card today.

Article Source: ezinearticles.com

While most people tend to use the terms charge card and credit card to mean the same thing, this is not the case. Both allow the user to do different things with their finances; offering flexibility as well as convenience for larger purchases. However, before you sign up for either, you’ll want to consider these differences.

Charge card

A charge card is a credit card that allows you to make purchases at a variety of locations. You will charge the amount to the charge card and then receive a bill at the end of the billing cycle. While most people believe that this acts in the same way as a credit card, when the bill comes, the user must pay it off in full. A charge card does not allow the user to carry balances from month to month. There is also no limit to the charges that can be made.

Of course, this also means that the charge card does not have interest charges, but this can be difficult for a cardholder that needs to extend the payments of their purchase.

Credit card

Most everyone has a credit card in their wallet or purse. A credit card allows the user to make purchases without cash at a variety of locations. The cardholder will accrue a balance throughout the billing cycle and then receive a bill at the end of the month. Charges can carry over from month to month and will accrue interest until the full amount is paid off.

The interest rates vary from card to card. And while the entire balance does not have to be paid off each month, there is a minimum payment that cardholders are expected to make.

In both cases

The use of a charge or credit card allows the cardholder to increase their credit rating and get better interest rates on future loans. But if you’re prone to being behind with payments, a charge card might be a better way to limit your spending. Since you’ll have to pay it all back each month, you won’t have to worry about having a balance that continues to accrue interest, even when you’re not spending.

But if you like the flexibility of not having to pay off balances each month, then a credit card is the better option. In terms of keeping your credit rating high, you’ll want to make timely payments as well as keep the balance to less than half of the limit that you are given.

Beth Derkowitz recommends Find Credit Cards for finding an HSBC Bank credit card that’s right for you.

Article Source: ezinearticles.com

Ever since Stacey Smith got her credit card, she has been trying to decode the alien credit card terms that the credit card companies use. Deciphering credit card terms is a task in itself! The credit card companies use fancy language, which we don’t use in our everyday use. So much so that even filling the application form is a pain. What is needed is a good credit card glossary to enable mortals like us to understand credit card terms.

We have complied a simple to understand credit card glossary. In simple words, it is card which can be used to obtain cash, goods or services up to a stipulated credit limit. The glossary covers some of the most commonly used credit card terms.

Lets begin with the most basic “account number”. It refers to a unique number that is assigned to every credit card. Next in the credit card terms come “annual fees”. Some of the credit card holders are charged annually for holding the card. This is known as annual fees. Another credit card term that would be used frequently is “APR”. It is the rate at which card companies charge you every year for your account.

No credit card terms dictionary is complete without the term “balance transfer”. It simply means moving your credit balance from one credit account to another. It helps in saving your interest payments. A credit card term that most people are afraid to come across in credit card terms is “bad credit”. It means poor or bad credit rating. It can be caused by late payments, exceeding card limits etc.

In credit card terms, the next word would be, “cash advance”. Cash advance means a loan taken through your credit card, using an ATM. Then in credit card glossary comes “credit report”. It is a record of your credit history that is usually consulted by lenders in order to decide whether they should lend you money or not, and how much.

In credit card terms, you will also find the term “debit card”. Debit card allows you to spend money on the balance available in your account - usually from a current or savings account.

Next in our list of credit card terms is “grace period”. It is the time period between the transaction date and billing date when the payment can be made without incurring any interest rate.

If you are going through a money crunch then this credit card term is essential for you to understand – the “minimum payment”. Minimum payment is the smallest payment that you can pay to keep your account in good standing.

Another very important credit card term to understand is “PIN number”. It is the security code that you need for authorization while making money transaction through your credit card.

Next credit card term is “pre approved”. This means a customer who has already passed the initial credit bureau evaluation.

Here’s to hoping that you would now feel more confident about using your credit cards with at least the credit card terms making some sense to you!

William King is the director of UK Wholesale Suppliers, Wholesale Suppliers . He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.
Article author: William King

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