Different credit cards come with different set of features and bring different benefits. They are very popular today and almost any person owns a credit card. If you are thinking about getting a credit card or do not know what they offer, you should consider the following important things about attractive credit cards.
- Credit cards come with annual fees which differ from one card to another. Even those cards that are offered from the same financial institution can have a different annual fee. Usually, premium cards such as American Express Gold Card come with bigger annual fee, but they also offer bigger and better benefits.
- Credit cards give their customers a chance to make an emergency withdrawal of cash from ATMs. Usually these withdrawals come with certain charge which is also different from card to card and it depends on the amount of money that is being withdrawn. Withdrawing cash from ATMs is risky because it comes with high interest fees, but it is good to know that is possible if you immediately need cash.
- By owning a credit card, you are required to pay a minimum amount every month that is set by the card issuer. Payments must be done by the due date in order to avoid charges for late payment, which sometimes can be very high depending from the credit card in question.
- One great thing about credit cards is that specific cards such as BA Amex come with pretty good reward points programs and cashbacks. These rewards points and cashbacks are earned on every purchase you make with the card. Once again, all cards have different structures for their programs and it is best to ask for more about this in the institution where the card is issued. Some cards offer reward points when you book flights, make grocery purchases, etc. All of this is specific to certain cards, and the type of benefits you get depends on the particular card in question. Most attractive thing about reward points is that they can be converted into gift cards, vouchers, coupons, discounts and other exciting deals.
- Some premium credit cards have pretty good programs for air miles. Frequent travelers love this feature because you can earn air miles simply by converting the accumulated reward points you have obtained through purchases. Cards with air miles usually have higher annual fees, but the benefits are well worth it if you are a frequent flier. That way you can accumulate enough points to fully cover your next holiday trip.
- Having a good credit score is essential for getting your premium credit card application approved. Credit score refers to how well you have managed your past debts. If you have a clear record of properly handling your debt and have paid off everything on time, then there is a big chance that your credit card application will be approved and that you will get the credit card you have always wanted.