Credits cards are convenience for everyday purchases. Using these cards offer many people in the world more security, flexibility and manageability.
People do not have to walk down the streets carrying a lot of cash when they go and buy home appliances worth thousands of dollars. They just need to bring along their credit cards.
By proper management of credit cards finances, people can buy their necessary things now and pay off the balance in installment in the short term. Of course, there will be some interests charged to their accounts.
As the number of users increases, credit cards companies now offer reward schemes (such as bonuses and incentives) to people with large debts when they spend on their cards.
There are usually numbers of schemes to choose from:
- Cash back rewards. This scheme offers a refund of a certain percentage of amounts spent on a credit card per month (or per year). There is usually a limit on the amount of money refunded.
- Earning points for every dollar spent. These points can be used for other shopping occasions, or be used to claim discount vouchers.
- Air mileage scheme. This program allows credit card users to earn mileage linked to the amount they spent on their cards. By opts to redeem the accumulated points into travel miles, frequent travelers can benefit much from the usage of their credit cards.
The credit card users need only to monitor their accumulated points in order to get the reward schemes they want.
