Prime customers can still benefit from some of the most attractive credit card rewards
If you want to be privy to attractive rewards on your credit cards, it is time to build your credit history to generate a credit score that falls in the ‘excellent’ category. Customers with excellent credit scores are having the last laugh as banks are doling out the most lucrative rewards to ensure they get on their customer data base.
The latest in terms of attractive rewards comes from Chase. The Southwest Airlines Rapid Rewards Premier card offers the card holders up to 50,000 bonus points on the first purchase made using the card. These points are sufficient enough to buy two roundtrip tickets to any of the destinations that Southwest flies to. However, the perks of this card do come at a price. The annual fee on this credit card is $99 and the interest rate is 14.24%, provided the customer has a good credit score. Consumer’s eager to apply for this credit card should have excellent to good credit scores to gain eligibility.
With the competition getting hotter by the day, credit card lenders are willing to stretch themselves this to ensure they get most of the consumers with excellent credit scores since they fall under the low risk category. As per the survey results from Mintel Compermedia, the number of reward credit cards, that stood at 551 million in the year 2009 nearly doubled in 2010 and stood at 1.4 billion. The consumers that are benefiting the most from these offers are the ones who have a good credit history backing them.