Credit Card Benefits
Making Money

Credit Card Benefits

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Like many others, I constantly receive mails and offers from companies who want you to sign up for their credit cards. For myself, I have always been a one credit card person as I never really saw the need in requiring more than one and figured that it would be easier to manage my credit card bill this way too. Recently, I received a mail for a business credit card and most of them usually emphasize on how I am pre-approved for a high credit limit or that they have a low interest rate. Neither of those benefits really interests me as my current limit is good enough for my needs and considering that I always fully pay my bills on time the low interest rate is kind of pointless.

What caught my attention about this offer was how they were emphasizing the cash rebate program where you could receive up to 2% of your annual purchases back in the form of credit. Considering the volume of purchases that I do in a year, this actually got me thinking as it does seem like a good benefit. Currently, I receive airmile points for my purchases and to be quite honest I personally think the rewards compared to how much I spend is pretty low when you look at it from a dollar value. Like always though, you shouldn’t jump into anything hastily and I will definitely be reading all the fine prints. We’ll just have to wait and see on whether or not I will be carrying two credit cards in the future.


  • Eric 2/28/2005

    2% is pretty high. I find that most of the deals that are “too good to be true” or substatially better than others tend to go away. I remember I had a card that gave me 5% back towards purchases at Apple. They quickly killed that as well as the GM 5% card.

    1% is the norm. Very few even start paying you 1%. It’s more like 0.25% on the first $2500, .5% on the next $2500 then 1% on amounts over $5k.

    I keep 2 cards (1 with 1% cash rebate). You never know when 1 might accidently get canceled or comprimised and that could be disasterous if you are somewhere without credit.

  • Brian business credit cards Maloney 9/1/2005

    I just received an offer from citi via snail mail to get a premier pass credit card and it read that I will be getting 10,000 bonus points after my first purchase and then I can turn around immediately and redeem those points for a $100 gift certificate for home depot or the gap.
    At first I thought hmmmm. But later I jumped on the offer and kept the rest of the info. for my records so as to not get screwed out of my certificate assuming they give me the credit card.
    Nonetheless, it just goes to show how bad they want your business.
    Great Article,
    Take Care,
    Brian Maloney

  • Jordan Bartrim 12/7/2005

    Very interesting. keep the good work!

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