Most companies offer incentives for new cardholders. These are often long term low interest rates for balance transfers or 0% interest on purchases and balance transfers. These are attractive incentives for card holders who have debts that they want to manage effectively. Many jump from card to card, rate surfing to take advantage of preferential interest rates.
While most people want to avoid interest, low interest rate cards are not the best incentive for people who clear their card balance in full each month. If you're one of those people, then you will be looking for another kind of card reward. There are many incentives that reward people who spend a lot on their cards and clear their balance every month.
Getting Cash Back Rewards
A cash back reward gives card holders a percentage of their spending back as cash. Some companies add this up and apply it to the cardholder's account once a year. The amount of cash back varies depending on the card chosen. It can be 0.5% or much higher. For example, some cards give a cash rebate of £1 for every £100 spent (1%) while others offer as much as £3 for every £100 spent (3%). This is a very attractive card reward for big spenders.
Reward Points For Holders
An alternative to cash back rewards is reward points. Many card companies offer points as rewards. Card holders earn points related to the amount they spend, so this is another type of reward that suits big spenders. Some card points schemes offer 1 point for every pound spent; others offer more. These are similar to the points
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