Cashback Credit Cards – Top Tips For Finding The Right One
Did you know that a credit card with a low APR isn’t always the best credit card to use for your purchases? If you shop around carefully, you can find credit cards that will help you save money, earn gifts and get discounts on the things you want and need to buy? Cashback credit cards are designed to offer you rewards for your loyalty in using a credit card issued by a particular company. Here’s how to get the most out of using cashback credit cards.
Before you even apply for a cashback credit card, do a little digging to find the best cashback credit card for you. It’s not always the one that offers the highest cashback amount, or the one with the lowest APR – it depends a great deal on how you use your credit card.
The latest trend with credit card companies is to encourage what they call micropurchases – purchases of less than £5. That means that they’re offering cash back on your purchases at corner stores, petrol stations and supermarkets to get you to 소액결제현금화 use their credit cards to pay for your purchases there. When you’re shopping for a cashback credit card, check which purchases will pay you cash back. If they’ll pay you to buy on plastic at the stores you already shop, it’s a card you want in your wallet.
– The very best credit card will have both a low APR and a high cash back scheme.
Those are rare, though. Most of the time, you’ll have to choose between the two. If you have to choose between the two, pick a card with a good cash back scheme, and be certain to pay off the balance every month.
Keep your long term and your immediate purchases on separate credit cards. The only way that a cashback credit card makes sense is if you’re not paying interest on a carried balance, because the interest that you pay will always be more than the cash back that you get. You don’t want to be paying interest for months on last week’s groceries or cup of coffee. If you mix and match your purchases on one card, you’ll end up paying interest that builds your balance instead of paying it off.
Realistically, getting one or two pence credited to your balance every time you make a purchase is the option that makes the most financial sense. You get the use of that money immediately because it reduces your credit card balance. If you end up carrying a balance, it’s a few pence less that you’re paying interest on. Practically, though, lump sum payments are more likely to be useful to you. Choose the one that works best for you.
Credit card companies are constantly updating and changing the deals that they offer. The best cashback credit card today may not be the best one tomorrow. Keep you eye out for good deals to come along.