Credit card issuers are launching more and more credit card rewards promotions, but which are best for consumers? DailyMarkets.com reads the fine print and lets consumers know the pros and cons of each rewards credit card in its new rewards credit card guide.
DailyMarkets.com, a leading consumer finance website that is based in New York, has released its guide to the best Credit Card Rewards for 2011.
“We often receive emails from US consumers seeking advice on finding the right rewards card for them,” says DailyMarkets.com founder and CEO, Grace Cheng. “As the economic climate improves in the US, credit card issuers have improved their deals and there is now a very wide selection of credit card rewards available to consumers.”
Rewards credit cards appeal to many people because they get rewarded simply for using their rewards card when they make ordinary purchases, whether at the supermarket or just using their credit card to pay recurring utility bills. A rewards card may give you hundreds of dollars worth of freebies if you use your card. Many credit cards offer incentives like cash, air miles, free hotel nights, free air tickets or electronic products to get people to sign-up for the card. DailyMarkets.com, with its access to a huge database of the latest credit card offers in the US, has compiled the best credit cards to suit different lifestyles and needs.
Here’s a list of the best credit card rewards sorted in different categories:
- Cash back cards – These are credit cards that will appeal to savvy shoppers as they give you back a certain percentage of what you’ve spent in the form of cash rebates, which in effect are discounts. While many cash back cards give a 1% cash back, DailyMarkets.com lists a few cards that offer 5% cash back in its Credit Card Rewards guide.
- Travel rewards cards specific to certain airlines or hotels – These are credit cards co-branded with certain airlines and hotels offering travel-related rewards to people who use the card, even on everyday type of purchases. In the Credit Card Rewards guide, DailyMarkets.com lists certain airline cards offering free round-trip air tickets as a signing incentive, and also certain hotel cards offering up to four free hotel nights as a bonus for first-time cardmembers.
- Non-specific travel rewards cards – These are credit cards not affiliated to any specific airline or hotel, offering travel rewards to users. Users get reward points or miles whenever they spend on the card and when they have enough points or miles, they can be redeemed for air tickets, hotel accommodation, car rentals or other non travel-related rewards such as gift cards, merchandise or even cash. DailyMarkets.com reveals the most flexible travel rewards card in the guide.
- Rewards cards with long 0% balance transfers – For people who wish to have a rewards card with a long period of 0% introductory APR on balance transfers, DailyMarkets.com has found just the right card for that.
- Business credit cards with rewards – Business owners should take advantage of business rewards cards because not only do they get rewards in return for their business spending, they also get useful tools included in business cards which can help them manage their expenses and finances in a more organized way.
- Upscale rewards cards – These are cards targeted at affluent consumers who have excellent credit score. DailyMarkets.com lists the world’s most exclusive credit cards, along with the benefits each card has.
To reap the full benefits of rewards credit cards, consumers should always pay off their card balance each month so that they do not fall into the trap of having to pay interest on any owed balance.
One of the main reasons why credit card companies are so keen to sweeten the deal for consumers is that they are hoping more people will become their customers, and that many of them will fail to repay their balance in full every month, thus incurring interest, which translates into money in the pocket for the card issuers.
“If you have good to excellent credit, and can afford to pay off your balance in full every month, you should definitely get a rewards card to help you save even more money. Our Credit Card Rewards guide will show you which are the best rewards cards for different lifestyles, and when you click ‘Apply Now’, we send you off to the official issuer’s website,” says Grace Cheng.
In its goal to become a number one source of information on credit cards, DailyMarkets.com also has a Credit Card Reviews section where consumers can read detailed reviews of any of the cards in the section, and also see how each card is rated. Consumers can also make use of DailyMarkets.com’s smart Credit Card Search Wizard, which sorts through hundreds of the latest credit card offers in the US, to find the perfect card for their individual needs. To enhance users’ search experience, users can filter cards by the best rewards, lowest APR, lowest balance transfer costs or others, and a list of the latest credit card offers matching their search criteria will appear instantly.
DailyMarkets.com is a consumer finance site founded in 2008 by Grace Cheng who was named as one of the ‘new kids in cyberspace’ by Financial Times in 2007. In addition to educating consumers about investing and trading, DailyMarkets.com is also dedicated to helping consumers understand more about credit cards and helping them find the best credit card for their needs. Its comprehensive credit card section is perfect for consumers to browse through the different categories of credit card offers such as 0% balance transfer cards, rewards credit cards, business credit cards, and many others – all of which are direct from banks and card issuers themselves. You can also check out DailyMarkets.com’s list of Best Credit Cards 2011. For more information, visit DailyMarkets.com.
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