Rewards credit cards
Searching for the best rewards credit cards can be overwhelming. There are so many options available to you that you might find it difficult to weave through the enormous amount of information there is out there on the world wide web.
What are rewards credit cards?
These are when you get certain rewards that come with making everyday purchases using your credit card. It is a great way to get all the benefits of ordinary credit cards while also benefiting you in a way that will suit you best.
What types of rewards credit cards are there?
- Cash back. These credit cards offer you cash back on purchases at a certain percentage. This percentage can vary depending on what you use the card on.
- Air miles rewards. These types of credit cards helps you stack up your flying rewards while you make day to day purchases. Usually they are limited to what you use your credit cards on.
- Points rewards. These particular credit cards help you rack up points that can be translated to cash rewards or points towards certain items. Again, this particular type of card usually applies specifically to what you use the cards for and where you use them.
Credit cards is one sure way to help you increase your credit card. So why not get rewards while you use them? However, there are so many options available out there, how do you choose.
Our team at Bonsai Finance can help you sift through the various options there are available and put you in touch with lenders that best suit your needs. You want to be sure that you don’t just get a rewards card because it has a system attached to it that sounds appealing. It is important that you choose the rewards that will benefit you best.
However, like any other credit cards on the market, choosing rewards credit cards come with certain requirements.
These requirements are
- Be 18 years of age or older.
- Have a verifiable source of income that is regular.
- Be within a credit bracket that is acceptable.
You don’t need to think because your credit is tarnished that you can’t get any form of rewards credit card. You can. There are lenders out there that can help you get a credit card that is rewards based, you just need to know where to look.
That is why at Bonsai Finance we meet with you to discuss what you want to achieve, what your lifestyle is like and find out other information that will help your application. We then take you through the application process and help seek out the lender that will best suit your needs and situation.
Why get help from Bonsai Finance?
Well simply put, because we do the heavy lifting for you. We will help you by finding the most appropriate credit card that suits whatever walk of life you are currently in.
- Clear and distinct terms and conditions.
- Help you find the best interest rates
- Get you the rewards that will work with what you use your card on.
- Give you all the information necessary to make an informed decision.
- Make sure you use a lender that is reputable.
- Give you full disclosure to all the fine print so you don’t miss anything.
Rewards Canada is a great way to get double the benefits from a credit card. It will not only help you financially, provide you a means of building credit but also give you the best opportunity for gaining incentives to use your card.
Our team of experts are dedicated to providing you the very best when it comes to choosing rewards credit cards. We will make sure what you get is what you need and nothing more.
Understanding Different Rewards Rates
One thing that not everyone realizes about rewards cards, even the best rewards credit card Canada, is that the rate at which you accumulate the rewards themselves isn’t always consistent. On one level, that makes intuitive sense – of course some cards will give you more rewards than others, since that is your incentive to choose them even though they might be harder to get or have annual fees attached. However, that’s not the only instance in which reward rates might shift. Many cards allow you to earn points at different rates depending on what purchase was made to earn them.
For example, a common scenario in which this happens is when you buy groceries with your credit card. If that card has groceries as a bonus category (and many do), you’ll earn rewards at an accelerated rate when you do this. This boosted rate could be just a slight improvement, or it could be as significant as double or even triple the rewards you would normally get. You can see how certain spending patterns would result in much more rewards gained than others would as long as the bonus category matched where the spending was going.
The trick to maximizing the amount of rewards you get is to choose a card that not only has high rates, but that also incentivizes spending in a way that matches your existing patterns. As we mentioned, groceries are a common bonus category and almost everyone buys those, so that one is always a safe bet and is particularly good for people who spend mostly on necessities. If you have a larger budget, though, a greater portion of your spending might be taken up by things like meals out and tickets to events. There are cards that give you bonus rewards for that kind of spending too, and if the math works out in your favour, you should absolutely choose one of them to use as your primary card. Be honest with yourself about how you spend your money and don’t try to change anything about your budget to fit a particular card, but rather choose one that complements your spending habits already – no reward is worth potentially putting yourself in financial jeopardy.
Getting the Good Rewards Takes Time – Start With Your Best Rewards Credit Card Canada Now!
No matter which of the best reward credit cards Canada you ultimately end up choosing, you won’t be able to access the best rewards they have in their line-up right away. It usually takes hundreds of thousands of points to get those, and while you should be able to earn thousands each month with a reasonable budget and a card that it tailored to your spending habits, it will still be slow going trying to gather up all of the points you need. Short of swapping out your card for one with higher reward rates (which you probably can’t do, since you’ve already selected the best rewards credit card Canada that you can qualify for), there’s nothing you can do to speed up this process except keep on waiting for your balance to build up.
Your welcome bonus might give you a bit more spending power up-front depending on how large it is, but for the most part, earning points consistently over long stretches of time is what will get you the amount of cash or reward currency you need. This means that you stand to benefit immensely from getting your card in your hand right away and starting to earn as early as possible. Whether your goal is to fund your Christmas presents entirely through cash back rewards or to take a vacation this year that you couldn’t afford without the help of the discount you’ll get by applying your travel points to it, there’s nothing to be gained by sitting around waiting any longer than you already have. Get the best rewards credit card Canada card you need now and let time work in your favour as your basic everyday spending brings the rewards flowing in.