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Cashback Credit Cards - Top Tips For Finding The Right One
By Jon Francis
Cashback and reward credit cards are rapidly gaining popularity here in the UK. Imagine being paid to spend money. That's the idea behind a cashback credit card. As credit cards have gained wider and wider acceptance, credit card companies are working hard to convince you that theirs is the best credit card you can carry in your wallet. If you're in the market for a cashback credit card, here are some tips to help you compare and choose the best credit card for you.

1.Choose a cashback credit card that pays you for purchases you'd normally make anyway. The most valuable cash back offers are those that give you cash back on ALL of your purchases, no matter where you make them.

2.The highest percentage of cashback isn't always the best deal. Some cards offer you up to 5% cash back, but only on certain purchases, or particular merchants. If those aren't purchases that you'd normally make then it's really not saving you money.

3.Choose the credit card that works best for you. All cashback cards are not created equal. Some give you immediate discounts on you purchases, some reduce your account balance by the amount of your cash back and some send you cheques or gift cards periodically. Pick a card that rewards you the way you like best.

4.If you like having a bonus cheque to spend, choose a card that pays out semi-annual or annual dividends.

Depending on your spending habits, you can end up with a pretty nest egg to do your Christmas shopping.

5.A petrol cashback credit card can pay off every time you fill your tank by discounting every litre of petrol that you buy. In addition, many also give you cash back on any purchase made at a petrol station or convenience.

6.Cashback credit cards that pay you for every pence you spend generally have lower percentage points (.5% is common), but can add up to considerably more cash back for you over the long run if you don't typically patronise a select group of merchants.

7.If you DO tend to frequent particular merchants, you may find a cashback credit card that rewards you for shopping at those merchants.

8.Do compare cashback credit cards at comparison websites to be sure you're getting the best APR and rewards you can qualify for. Especially if you tend to carry a balance on your accounts, you may find that interest charges eat up all that lovely cash back.

9.Be wary of 'shoppers clubs' masquerading as credit cards. These are not the same as credit cards that offer rewards when you use participating merchants. Instead, these cards are only valid at a select group of merchants. Not only are you confined to the premium prices charged by the member merchants, but you'll likely pay premium interest rates.

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