Credit Card Rewards Come at a Price
“There’s no such thing as a free lunch in life.” How true and this certainly applies in the field of reward schemes.
The plethora of schemes on offer include money back on company gas cards, air miles on airline cards and product discounts on retail cards. All sounds great, but beware the small print.
Problems include:
• Substantial annual fees.
• Convoluted claims processes.
• Amendment of the small print after the card has been issued.
• Rewards harder to achieve than originally presented.
Robert McKinley chief executive of CardTrak.com, an online publisher of information about payment cards says:
“You really have to look at whether the reward is something you want and worth what you’re investing,”
Sound advice!
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