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Using Credit Cards Made Even Better For People With Good Credit

By Faye Mergel
Published: Saturday, June 5th, 2010

KABLRM-00003050-001Lately, credit card companies are offering a type of credit card for people with excellent credit record. Dubbed as “cash back cards”, these give customers the opportunity to benefit from paying their dues in time and in full.

People with credit ratings that are rates as good or excellent have the chance of applying for cash back credit cards. These are the type of credit cards return a percentage of what you spend on your credit cards whenever you pay back your monthly balance in full. For the type of people who are consistent in paying their monthly balances, getting Pentagon Federal VISA Platinum Gas/Cash rewards card or Blue Cash from American Express will be extra beneficial. The high rebate percentage is enough to make people use their credit cards more often than to use money.

People who spend a lot on gasoline and groceries can bet on Capital One No Hassle Cash Rewards which offer 3% cash back for purchases at gasoline stations and grocery stores. For other purchases, 1% cash back is offered. The best part of it is that the cash rewards do not have a limit and that these also do not expire.

Aside from incentivising people who are prompt in paying dues, this new promotional offer ensures healthy competition among the credit card providers. Not only do the companies get to offer lower fees but also increase the perks of signing up for a particular credit card. The consumers can redeem the perks on the form of a gift card, a check, or as an account credit.

Upon getting enough credits on accumulated purchases, a person possessing the cash back credit cards can redeem his prize at his credit card company’s office and state whether it be in the form of an account credit, a check, or a gift card. Once settled, the company will issue the item and send it through mail or automatically deduct the prize’s worth from your monthly bills (if account credit was chosen).

All of these rewards are given tax free and are most likely to be offered to borrowers who have maintained good credit standing for a minimum number of years. With enough dedication and drive to maintain exemplary credit worthiness, consumers will soon be able to get their hands on these cash back cards. With these rebates, it is indeed true that people with good standing reap the rewards.

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