Low Interest Cash Back - Credit Card

Why Get a Low Interest Credit Card?

Why should you be concerned about the interest rate? Many consumers are advised to pay off their monthly balances in full to avoid the additional APR. However, even if your goal is to pay off your charges in full, unexpected circumstances may force you to submit only the minimum due and carry over your balance to the next month. When this happens, your bill can increase by 14% or more because of the interest.

Even worse, your credit card company may increase your interest rate by as much as 25% to 30% because of late payments. The changes in the Prime Rate can also dramatically affect your credit card’s APR at any time. Clearly, getting a credit card with a low APR can protect you from the risk of bad debt.

Low Interest Credit Card Offers

If you search online, you can find viable credit cards with low interest rate offers. Nevertheless, aside from having a low APR, look for credit cards with no annual fee and low transaction charges. You can find the best deals only if you take the time to shop around. One example for low interest cash back credit card is: Blue From American Express. Check out other low interest card in our: list of the best low interest rate credit cards in the market.

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The Best Cash Back Credit Card

Unlike other reward credit cards, cash back cards allow its holders to collect and earn rewards more easily. Cash back cards also provide more flexibility for the card holder when it comes to claiming rewards. So which cash back credit card should you choose?

Which Should You Choose?
With all the cash back credit card issuers in the market, choosing one can be confusing. Before your final choice, consider carefully the different factors that affect your credit card choice.

First, you should be particularly concerned about the interest rates. Bear in mind that along with the privileges, reward credit cards also come with higher interest rates. With this in mind, it is very important to pay off your credit card balance in full each month. Otherwise, you could end up paying for more than the rewards you can earn from your card.

Don’t forget to check on the annual fee of the card. How much is the cost you need to pay each year to activate your membership for the card? Remember, you’ll be required to pay for this cost every year in order to be entitled for the rewards program. Is the cost reasonable or does it exceed the amount of rewards you can earn from your card in a year? If that is the case, the annual fee would defeat your purpose of owning a reward credit card. If you do your research well, you can find a cash back credit card that doesn’t have an annual charge so take your time in studying all your choices.

What about the rules in collecting your cash back points? Are you clearly aware of the mechanics? How many points do you earn for every dollar you spend using your credit card? Obviously, you’ll want to look for a credit card that awards bigger points for your purchases.

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Which Credit Card Do You Prefer, Cash Back or Airline Credit Card?

Which credit card do you prefer, cash back or airline credit card? Perhaps your answer would depend on your lifestyle and spending. Some people may think that a credit card with Frequent Flyer Miles Rewards will give them a bigger reward value but before you go and rush into signing up for a travel reward card, don’t forget to consider it matches your lifestyle.

For instance, to qualify for one free travel ticket, how many points do you need to collect? Usually, a travel reward card gives 1 mile or 1 point for every 1 dollar purchase. The question is, how many miles or points do you need to collect to earn your free airline ticket?

Add to this, earning points may only be limited to airline, hotels, car rentals and other travel related purchases. If you’re not a frequent traveler, it may take a really long time before you can earn your free travel. Therefore, travel rewards are only recommended for people who frequently travel and use credit cards on their trips.

Clearly, if you’re not a frequent traveler and you don’t really use your credit card as much, getting a cash back credit card would be a more practical choice. Why? Credit cards with cash back rewards have more flexible terms and conditions on collecting and redeeming rewards. Generally, you earn 1% cash back per dollar charged to your account. This means, each time you use your cash back credit card- regardless of the type of your purchase- you instantly earn points in your account.

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