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Cash Back Credit Cards Reward Yourself
By Joseph Kenny

As the competition in the UK lending market has become ever more intense, lenders and credit card providers have had to go to ever more lengths to attract customers to them. While there is a limit to how low they can go on interest rates, in fact many now go as low as zero per cent for well over six months, card providers can also seek to attract customers with loyalty and reward schemes. These basically reward you for every pound you spend on your credit card.

Loyalty schemes come in all sorts of variations and can offer you air miles, discounts on petrol, points and cash. Cash is probably the best reward you can get from your credit card provider as you can spend it where and when you like...
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In the News
Credit card fees make the rich richer, study finds
Credit card fees and rewards programs exacerbate income inequality by acting as a transfer of wealth from poor to rich, according to a Federal Reserve Bank of Boston study released Monday. Read More ...

Credit card fees: Would capping them really help consumers?
Credit card fees and rewards programs help the rich and hurt the poor, according to a recent report. But experts disagree whether a cap on fees would solve the disparity. Read More ...

Do Credit Cards Siphon Money From the Poor to Rich?
A recent study published by the Federal Reserve Bank of Boston paints a revealing portrait of "reverse wealth distribution" perpetrated by credit card companies. Together, rewards programs (which encourage cardholders to buy frequently to rack up points to get cash back) and merchant fees (a 1-2 percent transaction fee imposed on credit card purchases) combine to create a consumer environment ... Read More ...

 
 
 
 
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