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Credit Card Canada - Canadian Credit Card Reviews and Applications Rewards Credit Cards
Rewards credit cards, Rewards credit card reviews and credit card application details.
With rewards credit cards, rewards come in different sizes and shapes: cash back or bonus points that can be redeemed for gift certificates and cards, merchandize, air travel, and more. The most important point is to choose a rewards program that is best for your particular requirements and needs. For example, the travel rewards card will be of no use if you travel only occasionally but makes more sense if you’re visiting family members in another province on a regular basis. Cash, on the other hand, is the most universal reward you can opt for.
Remember that all credit cards go with interest rates and fees, and the rewards ones typically charge higher rates compared to other credit cards. In most cases, this type of product goes with an annual fee.
Ideally, card holders will receive as many rewards points as possible. Some credit cards put limit on the rewards one can get even if the holder keeps charging items on the card. So, you may only earn a set number of points in one year.
Other issues to consider are the expiration date of points, options for redeeming, the minimum spending limit required to accumulate rewards, and possibilities to exchange points with partners of the credit card provider. It is important to note that with some credit cards, the earned points expire if you do not use them over a given period of time. No one wants to lose his rewards points before having a chance to use them. So, make sure you remember the expiration date if there is one and avoid products with unreasonable expiration periods. Second, it is a good idea to find out if you can redeem your rewards at any time. Is there an option to redeem these in increments? Guidelines or restrictions on redeeming may be of inconvenience to you.
You may be required to charge a certain amount of money on your card before you start accumulating rewards. If that is the case, it is important to make sure you do not have to charge a larger amount than what you normally would, especially if the card comes with an annual fee. The more ways to redeem, the better off you are. If the credit card provider has different partners, you obviously have more choices to redeem the bonus points you accumulate.
If you keep these points in mind, you can go shopping for a Canadian rewards credit card. For instance, with the More Rewards Credit Card offered by MBNA, holders enjoy low introductory rate of 1.99 percent on check cash advances and balance transfers over the first six months and no annual fee. The regular interest rate is 19.99 percent. Card holders earn 3 points for every dollar in purchases when shopping at Cooper's Foods, Overwaitea Foods, Save-On-Foods, Urban Fare, and PriceSmart Foods. In addition, the product comes with purchase protection, fraud protection, 24/7 customer service, immediate access to cash, and common carrier travel accident insurance.
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