|
|
|
|
Home / Finance / Credit
Credit Cards: Non reward Type vs Reward Type
By:Michael Colucci
You’ve finally come to that stage in life when you can afford to own a credit card, not as a supplementary cardholder but as the principal cardholder. Finally, you’ve earned the right to have a credit card in your own name and to be able to purchase whatever you want without having to ask anybody else’s permission. But now that that time has come, you find yourself in a quandary – what type of credit card should you apply for?
There are just two basic choices for you – do you want a credit card that offers rewards and one that doesn’t?
The Non Reward Type of Credit Card
These credit cards do not offer you any reward points or bonuses no matter how many times you use their credit cards or how prompt you are when it comes to credit card payments. Instead, this type of credit cards allow you to waive interest charges for a certain period of time or avail of lower interest rates than those offered by reward types of credit cards.
Basically, there are two choices that you’re given when it comes to the non reward type of credit card. The first one would be a credit card that offers 0% APR intro rates. When you get yourself this kind of credit card, you’ll be able to purchase anything without having to worry about contending with high interest rates. But the 0% APR is only applicable for a certain period of time because it’s an introductory offer. Once it’s over, the APR will revert to normal.
The second type of non reward credit card is the low interest ongoing APR credit card. Although it’s not 0%, the interest rate may be lower than what the new APR would be for a credit card with 0% APR intro rates.
The Reward Type of Credit Card
If you don’t find yourself excited with all those low interest rates being offered by non-reward types of credit cards then perhaps you’ll find your heart racing with credit cards offering rewards.
With this type of credit card, the interest charge is usually higher but you really don’t care about that, do you, if it means being able to win a iPod Mini later on, does it? With reward types of credit cards, frequency of use and promptness of payment matter a great deal. There are also a whole variety of rewards being offered so you’re surely be able to choose one that you truly desire.
Article Source: http://www.dailynewarticles.com
Michael Colucci is a technical writer for Low Interest Credit Cards - A site that offers credit cards with an intro rate of 0% for 12-15 months.
(You are granted the right to reprint this article but the title and content must remain unchanged and the authors name and contact information must be included.)
More Articles from Credit Category:
Bank Safely And Securely
Basic Tips For Getting Out Of Debt
How To Make A Well-Balanced Investment Portfolio
Credit Card Late Fees - How to Avoid Them
Life Insurance - How Much Do I Need?
Why Use Low Interest Rate Credit Cards?
How To Use Your Credit Card To Really Save You Some Money
Accounting Made Easy with Small Business Credit Cards
A Second Chance: Credit Unions
The Citi Hilton HHonors Visa Signature Credit Card - Pros and Cons
Busting the Myths of Your Credit Score
Stopping The Scary Phone Calls
Guidelines to Choose the Right Airlines Credit Card
Balance Transfers Primer
The Elvis Prepaid MasterCard Card - A Card From The King!
|
|
