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.
Latest Credit Card Rewards News
The inaugural J.D. Power Credit Card Satisfaction Study found that when it comes to choosing a credit card, it’s all about rewards. But just offering rewards isn’t enough: cardholders have to understand how to redeem them, as well.
Travelers will be able to collect more points and take advantage of more special features with the new and improved Southwest Rapid Rewards Priority card, which is offering a limited-time introductory bonus of up to 65,000 reward points. This is more than half the points needed to get a companion pass, once they’ve spent the required amount on the card.
If you’re a frequent Whole Foods shopper and an Amazon Prime member, there’s now another reason to apply for an Amazon Rewards Visa Card, if you don’t yet have one. Following the acquisition of Whole Foods by the retail giant, Amazon is offering Prime members who have an Amazon Rewards Visa Card 5% off all Whole Food Market purchases.
Sometimes it’s hard to remember to redeem your credit card rewards: an astounding percentage of cash back rewards are never used, probably because cardholders didn’t realize they even had them, or didn’t know how to redeem them.
Consumers with no credit or poor credit tend to neglect to consider secured credit cards as an opportunity to establish or re-establish their credit. The cards may look expensive and unattractive, yet they work pretty well when a need to rebuild credit arises.