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She talks of how the study found that confusing rules and restrictions make most reward cards more trouble than they're worth. And while cash back, gas and grocery rewards credit cards can offer some relief for costly essential items, they often carry higher annual percentage rates than traditional credit cards, Consumer Reports said.If the rates are high, the cost to carry a balance will often erase any savings the rewards program may offer," said Amanda Walker, senior project editor at Consumer Reports.And in addition to the complicated rules, fees and higher interest rates, customers are leaving unused rewards on the table. More than 41 percent of reward cardholders either rarely or never even bother to use their rewards, said a 2006 survey by GMAC Mortgage and Harris Interactive.
So in the end, a prime card is really one with a low interest rate. I'll take Joe's Credit Card (Juniper, Hsbc) at 8.99% over the so called prime cards like the prestigious American Express, Discover or Citibank at much higher rates with their faux rewards. It's time to redefine prime.
nobeing wrote:
So in the end, a prime card is really one with a low interest rate. I'll take Joe's Credit Card (Juniper, Hsbc) at 8.99% over the so called prime cards like the prestigious American Express, Discover or Citibank at much higher rates with their faux rewards. It's time to redefine prime.