Credit cards tailored based on spending patterns
There are many different types of credit cards which are available based on your credit history and monthly income. It is also true that there are different types of credit cards available for different types of customers. This is because each one has his or her way of spending on the credit card and the cards are therefore tailor-made as far as rewards and fees are concerned. For example, there are lifestyle cards which are specifically for those customers who shop a lot around in the world. These cards are for the shopper who quickly accumulates shopping points. These shopping points can be redeemed in the form of discounts, gift vouchers or even free gifts from time to time.
There are credit cards which offer travel miles ideal for those who travel a lot around the world. By shopping with these credit cards, you can accumulate points that can be redeemed in the form of discounts on your air tickets. Some credit cards even come with massive bonus miles from time to time. There are credit cards for those customers who have excellent credit history, but want their rewards in the form of direct savings. Such customers will enjoy the benefits of cash back cards, where up to 5% of what they spend is returned back to them as a discount. Some cards have a 1 or 2% discount on all the items while some offer discounts as high as 5% on select purchases such as from drug stores, gas stations or specific supermarkets.
There are credit cards tailor-made for those who have big shopping seasons ahead of them. These are balance transfer cards that promise a good discount if you reach a stipulated spending amount in a period of 1 or 3 months. For example, prior to Christmas, some cards offer cash back of $100 if the card holder manages to spend $500 on the credit card in the first 3 months of opening the amount. There are low APR and low reward credit cards as well, for those who would want to pay a smaller interest on their credit card debt and are ready to sacrifice the other benefits that usually come with credit cards like cash back or travel mile reward programs. These cards are ideal for customers who have a higher revolving debt month after month. There are credit cards which offer additional perks too such as travel insurance, 24 X 7 roadside assistance and lost baggage reimbursement.
