Credit Cards With Benefits

Account Incentives

Some credit cards with benefits offer incentives that relate directly to your credit card account. For example, some credit cards might offer 0 percent interest rates on balance transfers from other credit cards. Others may offer benefits, including no annual fee and no over-limit fee. Benefits also may include 0 percent interest on purchases during a specified introductory period; for example, you may have a six-month grace period for purchasing without accruing interest after opening a new account.

Consumers who travel frequently for leisure or business may want to apply for credit cards with travel-related benefits. For example, you may earn points for each dollar charged to a credit card that can be accumulated and exchanged for travel vouchers intended for airfare, hotel stays or car rentals. Other credit cards accord "miles" to consumers for every dollar charges to the card; for example, you may earn 1,000 miles for purchasing a flat-screen TV with your credit card. Some platinum-level credit cards include preferred access at airport travel lounges or discounts at affiliated hotels.

Credit cards with benefits include point systems rewarding consumers with gift certificates or vouchers for major store brands or products, such as electronic headsets or concert tickets. Additionally, some credit cards offer "price protection," offering to compensate consumers for the difference in cost for purchases they've made when the same product emerges on the market for cheaper within a specified amount of time. For example, if you purchased a brand-name printer for $250 and then the same printer is offered for $235 one week later, your company may credit $15 to your account.

Another type of credit card benefit includes cash back bonuses. In this benefit scenario, consumers receive a certain amount of money upon reaching certain spending thresholds. For example, if you charge $800 to your credit card, you may be eligible for $4 back if your credit card offers a 5 percent cash back bonus rate. Credit card companies may wait until a certain amount accumulates (for example, $50) before dispensing cash. You may be asked if you prefer a mailed check or an account credit. If you maintain credit card balances, this bonus can effectively reduce overall amount owed.