Credit Card Incentives
Credit card companies want your business. After all, lending money to people is profitable. Besides the interest fees that you'll be charged, the credit card company also collects a fee from merchants who accept their credit cards. In order to get your business, most credit card companies are willing to offer you some great incentives - not only to apply for one of their cards, but to use it for everything from car rentals to weekly groceries.
Among the incentives that you might be offered for using a particular credit card are frequent flyer miles, phone call minutes, rebates and cash-back on purchases, insurance on your purchases and more. Here's a list of some of the most popular incentives. Check around to find a card that offers incentives that make sense for the way you use your card.
Rebates
One of the most common incentives for using your credit card is a cash-back or rebate offer. Generally, you'll get 1-5% back on various purchases. Depending on the credit card, you may get 1% back on most purchases, and 5% back on purchases made at convenience stores, gas stations, grocery stores and 'member merchants'. The rebate may be in the form of a credit on your bill, a gift card for $10, $20 or more dollars when you reach that amount in cash rebates, or a check sent from the credit card company.
Frequent flier miles
Another common credit card incentive is frequent flier miles that can be used on a number of airlines for personal and/or business travel. Check the individual cards' terms and conditions to find out exactly how to redeem your frequent flier miles.
Phone Minutes
A new incentive being offered by several credit card companies is phone minutes to use with your cell phone account. Redemption is generally via a phone card sent when the amount of the reward minutes reaches a certain denomination, but your credit card company may have different rules and policies.
Additional warranty coverage for the items you purchase
A few credit card companies offer extra warranty time or coverage on items that you purchase using their card. The additional coverage is only available on particular cards, generally the Premium cards. If any item that you purchase using cards that are lost, stolen or breaks within the stated warranty period, the credit card company will replace it at their cost.
Car rental insurance, Travel accident insurance or travel-related discounts
If you travel often and use rental cars, then it may make sense for you to have a card that offers insurance on you when you're driving a rental car - at no extra charge. Likewise travel insurance and travel discounts that may be available only to holders of that particular credit card, or is available at reduced rates to them.
Credit card registration
Some credit card companies offer to register all of your credit cards so that if your purse or wallet is lost or stolen, you only need to make one call to alert all of your credit card companies. It's a handy perk to have, especially since it's easy to forget a card you don't use often in the heat of the moment. Taking advantage of a credit card registry is one way to be sure that all of your creditors are notified that your cards are lost.
Joseph Kenny is the webmaster of the credit card comparison sites http://www.credit-cards-info.com/ and also http://www.creditcards121.com/
MORE RESOURCES:
 Telegraph.co.uk | Citigroup Posts $2.5 Billion Loss on Write-Downs New York Times, United States - By LOUISE STORY Hobbled by the credit crisis at home, Citigroup has limped through nine months in the red, reporting a $2.5 billion quarterly loss on Friday ... Credit Costs Weigh on Citigroup Citigroup credit default swaps narrow 15 bps-Phoenix Credit Costs Weigh on Citigroup |
 The Money Times | Ackermann says credit crisis end in sight Financial Times, UK - Josef Ackermann, Deutsche Bank’s chief executive, on Thursday said the credit crunch was at “the beginning of the end” as banks and regulators have taken ... 2nd UPDATE: JPMorgan 2Q Net Down 53% On Credit Woes, Markdowns JP Morgan: The Legacy of the Credit Crunch Why No Outrage? |
Studying up on credit scores Chicago Tribune, United States - In matters of money, a credit score assesses your financial responsibility. And just as with taking your first practice test, your score may be low when you ... Given a Shovel, Digging Deeper Into Debt |
Dollar Rebounds From Record Versus Euro as Credit Turmoil Eases Bloomberg - The US currency also rose versus the yen on signs US investment banks will withstand credit-market losses and the Federal Reserve and the Treasury proposed ... |
 BBC News | Credit crisis: Merrill Lynch to sell Bloomberg stake and keep HQ after Tehran Times, Iran - The loss was due to write-downs of $9.4bn on the value of mortgage holdings, credit-related derivatives and instruments guaranteed by crisis-hit monoline ... Merrill Drops After $4.65 Billion Second-Quarter Loss (Update2) Quarterly loss at Citi smaller than expected, but Merrill disappoints BlackRock shares soar on earnings, Merrill stake move |
$10m W/Bank Credit: Boom time for small-scale mining The Punch, Nigeria - This was the scenario, which the World Bank set out to help Nigeria change in 2005 when it granted the country $120m credit under the Sustainable Management ... |
Mortgage sales pressure fuelling credit crisis: ACTU ABC Online, Australia - The Australian Council of Trade Unions (ACTU) has accused banks of fuelling the credit crisis by forcing staff to push mortgages onto people who cannot ... Banks 'pushing' families into debt Banks lean on staff to push loans |
No deals for debits at the pump Detroit Free Press, United States - I would have paid the same price if I used a credit card. Bring the Benjamins and you'd get that super-low price -- OK, low by today's standards -- of ... Gas stations turning to using 'gift |
Teton County development plagued by credit crunch Fox 12 Boise, ID - Developer Bill Reid said a nationwide credit crunch prevented him from winning more financing for the 1350-acre Huntsman Springs project. ... |
Deals and takeovers are being done despite the credit crisis Telegraph.co.uk, United Kingdom - So, tapping the credit market for a cool £10bn to finance the acquisition of companies such as Alliance Boots or J Sainsbury is simply out of the question ... |
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