Rewards Galore
Filed Under Credit Card | Posted on June 3, 2008
I am in deep gratitude of YourCreditNetwork(dot)com which has shown me the correct way of using my credit cards. I am more aware of the purposes of each credit card benefit: the lower interest rates, the rewards and what-have-you. There are reasons behind all of these.
One, higher interest rates are charged by some cards because they give out more rewards or points. This type is not for those who like to pay minimum because the big interest will only pile up and will be more difficult to settle as time goes by.
Second is the reverse of the above, lower interest rates are charged because of inferior rewards or points programs.
Third, is the fees. The higher the credit limit, the higher the fees. Funny that after owning several credit cards, I have realized these only recently. I am a buy-and-sell businessman and I usually rely on my credit cards for purchases. When the bill arrives, I settle everything. I learned that with this kind of transaction, I can maximize the rewards I get by switching to a card with the best rewards program. The higher interest would hardly matter if I get great rewards. The one I have right now gives me cash. It’s like earning extra for my business each time I get the reward.
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