While credit cards have encountered considerable negative publicity recently with reports of accounts being closed and credit limits be reduced,  there are still some worthwhile incentives being offered, and for those with good credit ratings who repay their entire balances each month, they are worth considering.

David Black, Principal Consultant - Banking at Defaqto 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, as the best offers often gain that position by virtue of a short-term introductory enhanced rate.

“It’s possible to use different cards for different types of spend to take advantage of the enhanced returns marketed by some credit cards. For motorists, the Shell card is currently a clear market leader.

“If you are unlikely to repay the entire balance every month you should concentrate on the interest charged rather than the rewards offered.” (more…)