Reward Credit Cards
There are a wide range of credit cards on the South African market for people who want to earn rewards each time they spend. Reward credit cards reward you for everyday spending; you earn points every time you spend to exchange for discounts and vouchers. They can be a great way of saving money and are used just as you would any other credit card. The right reward credit card for you will depend on your needs and lifestyle. A whole range of rewards are available with rewards credit cards. Below you can browse different reward cards available and compare and apply for the right credit card that suits your spending. Please make sure that you read the terms and conditions of these credit cards thoroughly so that you fully understand your financial obligations.
Compare Reward Credit Cards
Reward credit cards are credit cards but with very attractive additional benefits.
What is a Reward Credit Card?
If you want a credit card that can give you extra you might want to consider getting a reward credit card.
With a reward card, you can get all the benefits of a credit card but with additional benefits. Not only does the card give you a line of credit, it also gives you many extras and rewards just for using the card. You can earn multiple rewards for your everyday purchases.
Your card will come with Chip and PIN technology and your purchases have extra protection when compared to other cards. Card providers will also minimise the risk of fraud whether you use your card at home, online or abroad.
What rewards can you earn?
There are a variety of reward programmes on the market. You can earn cash back as you spend or airmiles, hotel discounts and hundreds of other vouchers and offers.
With some cards you earn points which you can redeem for any number of rewards from theatre or cinema tickets, gift cards and discounts on fuel.
With a rewards credit card you earn every time you spend and so ultimately, the more you spend the bigger the rewards. Reward credit cards can help you save and earn money at the same time.
Are you eligible?
You will usually have to be over 18 to take out a reward credit card. You will also find there can be minimum incomes required and you must have a South African bank account and permanent address.
It is unlikely that you will be able to take out one of these cards if you have a bad credit history.
Remember that some cards may have additional specific eligibility criteria.
Are Reward Credit Cards the best option?
Reward credit cards are best suited to those who use the credit wisely and pay off the balance each month. This is because the interest that you will pay on your outstanding debt can outweigh the value of any reward. You don’t want to end up spending more on fees and interest charges than benefitting from the rewards. These cards can be great for people who are regular shoppers but they are not suited to people who rarely use their credit cards.
Reward credit cards encourage spending because the more you spend the more rewards you will earn so you need to be careful.
Finding the best Reward Credit Card?
Use the table above to search for the right card for you. You can compare offers side by side to determine which card is best for your finances.
Once you have found the card that best suits you, make sure you read the terms and conditions fully.
Compare Reward Credit Cards sensibly
Rewards credit cards are most suitable for people that regularly spend on their credit cards and pay the full balance off at the end of every month. This is because interest rates can be high on reward cards therefore outweighing the benefits of the rewards. So, if you decide to take out a rewards credit card you should look for cards where you use the rewards to your full advantage.