So you are out looking for a credit card? Have you thought about the various aspects that you would need to consider to make a thorough credit card comparison before you pick one option? Financial instruments such as Citibank credit cards and several other options are already available in the market. But there are factors that you will need to consider before settling on one product.
Responsible Credit Card Use Assessing the factors that help you pick one credit card is a very smart move. It proves that you are a responsible credit card user. Before you begin this assessment / comparison, the first thing that you should know is that never to abuse your credit card. Period! If you are not careful with your credit card, you will end up in debt. Experts also say that the moment you master the art of paying off your credit card balances on time, these financial instruments will prove to be even better than your debit cards. Now Let Us Examine A Few Factors That Will Help You In Credit Card Comparison One Time Bonuses When you are about to get a new credit card, there is a buzz around the initial bonus. If you are an applicant with good credit, you can get approved for a credit card very easily. You will also be entitled to a bonus of $150 or more depending upon the company that you have chosen. This will be credited to your account in exchange for a certain spending amount. For example, if you spend anywhere between $500 & $1000, accordingly a bonus amount will be credited to your account. These are basically just bonus reward points that can be redeemed very easily on your next purchase. You can redeem these points for travel purposes, gift cards, statement credits, and merchandise on your favorite brands and much more. How Lucrative Is Cashback? I Will Say Very! Cash back credit card offers are very popular in the United States. The idea is to use the card and get 1% or more of your purchases rebated back to your account in the form of cashback. Today, this concept has very much matured and grown into a separate promotional tactic altogether. Some of the leading products such as Citibank credit cards also offer 2%, 3% even 6% cashback options. These are of course available on select purchases only. Such lucrative offers are activated on quarterly or annual spending caps. Reward Points If you are making a credit card comparison, do not forget to consider reward points which are basically there to allow card holders to earn more points per dollar they have spent on any purchase. There are many credit cards in the market that provide bonus points for certain categories of purchases such as groceries or gas, movie tickets or restaurants, supermarkets or certain departmental chains, and the like. This might come across as similar to bonus points but they are different as to when during the lifetime of the credit card they are offered. Bonus points are awarded to a new credit card owner, whereas reward points may be recurring for any credit card owner. These reward points can be redeemed in the form of gift cards and merchandise and can be accessed online in the credit card company's reward portal. Safety Options There are different safety measures taken by each credit card company working in the market. If you are out to make a credit card comparison, do not forget to understand the safety measures taken by your credit card company. Remember, paying with a credit card makes you a little more prone to fraud and losses. It is also evident that any fraudulent transactions on your credit card take a little longer than any other transactions to be reversed. This means that the money that is due to be restored to your account it will take a little more time to reach you while the bank investigates any such fraudulent activities. The bottom line is that you need to be certain about the safety precautions and encryption methods adopted by the bank / financial institution to ensure that no unauthorized party / individual can use the credit card of the owner. These were a few important factors that you should always consider while drawing a credit card comparison for the first time.
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