Consumers might be able to "earn as they spend" if they choose the right credit card, it has been claimed.
David Black, principal banking consultant at Defaqto, explained that the variety of reward based credit cards meant it is often hard to compare the value of different incentives.
He said: "There are a variety of reward based credit card schemes and these include points schemes, air miles and cashbacks. Some of them can be very difficult to compare and, certainly in the case of cashbacks, it's worth reviewing what's available on a regular basis."
Mr Black added that people should, if possible, use different types of credit cards for buying different things in order to take advantage of the various offers.
However, he warned that people who did not pay off the entire balance of their credit cards each month should look to get a good interest rate instead.
On Monday, Sean Gardener of MoneyExpert.com warned that balance transfer fees are on the rise and people may find it expensive to switch credit cards in future.
News Side
Some credit cards let people earn as they spend
Thu, 28 Feb 2008
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