Cash Back and Reward Credit Cards Popularity on Rise
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New financial researches have indicated towards the popularity of cash back credit cards. These new credit cards have popular because consumers search for ways to make their money go further. According to defaqto, Cards used in the market which offer cash back and rewards for spending has become so popular that number of such cards goes on double during last two years.
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These cards are available with several facilities for the consumers as consumers can select from more than 245 different credit cards. 75 percent of such credit cards are classified as standard cards rather than gold or platinum cards. Different credit cards from different credit providers which use for rewards are common in some facilities. The common rewards schemes are rewards and points for shopping. Such rewards are available around 20 percent of cards running in the market.
Different types of cards are offering different awards and air miles are next popular award after shopping points. Ten percent of rewards based credit cards are using this type of rewards. Next popular reward on card is cash back reward with 9 percent popularity. Cash back rewards are growing in present years but these features are available only on 22 percent cards. Cash back reward card help in financial growth gradually by acquiring amount. Card users further get success to set a point usually on monthly or annually basis. On completion of the period, consumers get back the amount. Such plans are quite helpful for emergency expenses. You can use the amount for emergency savings and can also avoid taking any personal loans or logbook loans by logbook loans helpline.
Different credit card companies offer different amount on credit card earnings. American Express Platinum Cash Back cards pay five percent on first £2000 expenses by card holder. It means you can earn £100 I just three months. However, one should select a card that suits to his financial requirements.
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