Rewards credit cards are a great benefit for a wide variety of users because they offer the benefit of countless rewards for everyday purchases. In addition, there are also many different types of reward cards available since the competition from the different banks is so fierce.

Some rewards that can be obtained through a rewards credit card include points for hotel rooms, gift cards, cash back, flights, and even free merchandise. Every rewards card is different in what is offered and according to your spending habits, you will be able to find the one that works best for you. At times, the reward bonus points that a card offers can be a little tricky since 1 point might not always equate to $1 reward worth. Sometimes, more points are needed for purchases than the actual purchase price stated since the rewards program alters the cost of items. It is beneficial to read the fine print on all rewards credit cards to determine what rewards you will actually be able to obtain. There are other instances where the rewards are extremely good, and in these situations, the credit card is basing their bets that the rewards will not be obtained since there are many restrictions that the card has put into place. And, many rewards programs have an expiration date in place so it is advised that all users check this valuable information in order to receive the rewards they are counting on.

In terms of many rewards credit cards, many do have an annual fee in place as well as high interest rates on purchases. At times, the annual fee and the high interest rate can be alleviated due to the plethora of rewards that are offered, but this is not always the case. Several different reward credit cards also offer bonus points upon sign-up, as well as benefits for travellers such as flight redemptions and complimentary travel insurance. It is advised that you use the handy search tool on this site to determine which rewards credit card is right for you.

1. 1. What is balance transfer leverage? ANSWER

2. Balance transfer leverage is also referred to as credit card arbitrage. This is a legal mechanism that allows you to borrow money from a credit card and invest the funds. The intention is to yield higher returns than the interest rates, from the investment so as service your loan. Ordinarily, when you get the funds from the card, you will invest it in a savings account, CD account or any other thing that offers a higher interest rate. You will make minimum payments for the promotional period and when it ends, you will pay the balance in full from the profits yielded.

   While the balance transfer leverage appears like an easier way to make money, there are a number of potential risks that are involved. It takes a whole lot to make a wise investment decision today. As such, the only people who seem to succeed in this scheme are the investment experts. This is also seen as a way to cultivate bad financial habits in that you would abandon the exceeding the credit card utilization limit and carry debts often. This will have a negative impact on your credit score.

3. 2. Are there any hidden fees or catches? ANSWER

4. All the rates and fees are availed in the disclosure documents. The fees that you should pay keen attention to are the balance transfer fee, annual fee and the revert APR. The ideal situation is when these fees are much lower than the potential savings that you will make from the balance transfer credit card. Compute all these rates and get the total cost of the card before placing the application. As much as the car may come with an APR of 0%, you are expected to make minimum payments every month so as to reduce your balance and hopefully pay it off before the promotional period, comes to an end.

5. 3. What happens if I don’t pay off my balance before the end of the promotional period? ANSWER

6. When the introductory period comes to an end, the APR will revert to the high rates. This applies to any balance that is not paid off plus the original balance. It would be of great benefit if you can pay off your balance during the promotional period.

7. 4. Will I earn rewards on the balance transfer? ANSWER

8. In most cases, you will not. However, this will vary from one lender to another, but ordinarily, the balance transfers will not earn rewards. Be sure to check all the terms and conditions for any credit card that you wish to apply for.

9. 5. Can I do a balance transfer with my current provider? ANSWER

10. Hardly would you be allowed to do a balance transfer within the same bank, from one account to another. If you are not sure about this, you can seek clarification from your bank.

11. 6. How long will it take for my lender(s) to receive the payment(s)? ANSWER

12. With the balance transfer, the creditors will have their money paid off in a period of 7 days to 3 weeks. You should verify that all payments have been made so as to discontinue using the old credit card.

13. 7. Can I transfer balances online? ANSWER

14. Yes, there are credit card companies that allow online transfer of balance. This is quite convenient, and you should check with your bank if the option is available.

15. 8. What is a balance transfer fee? ANSWER

16. The balance transfer fee refers to a one-off fee that is charged to your card when you transfer the balance to the new account. On average the fee ranges from 3% to 5% of the total balance transferred and will be included in the balance that is moved to the new card.

17. 9. How do I apply for a balance transfer credit card? ANSWER

18. The application process for a balance transfer credit card is the same as the conventional credit card. However, during the application of the balance transfer credit card, there will be a section where you will be required to indicate about the balance transfer. In this section, you should provide the details of the existing credit card accounts, the transfer amount, and other basic details. If the application goes through, your debt will be moved to the new card. In the vent that you wish to close the previous credit account, it is your responsibility to contact the card issuer.

19. 10. Do you still have to make payments on a 0% balance transfer card? ANSWER

20. Even with the 0% interest rate on the balance transfer card, you should make the minimummonthly payments, which vary from bank to bank.

21. 11. Are the FF credit cards truly worth it? ANSWER

22. They are only worth it for certain types of card holders. It wouldn’t make much sense for you to have a card of the kind unless you spend a lot of money. These cards usually come with higher interest rates as well and annual fees as well and as such they usually cause the holders to spend more than they should and that’s what may cause certain holders to get in debt.

    So unless you earn enough of the points to actually offset the additional cost which is generally rather hard, you will always end up with a negative balance, rendering the cards a bit useless.

23. 12. Can you earn points for balance transfers as well as for cash advances? ANSWER

24. No, you can’t. Points are awarded for making purchase which is eligible only.

25. 13. Credit card cancellation after reception of bonus points – is it possible? ANSWER

26. In the majority of cases, you would be capable of cancelling your credit card at no additional costs or fees after you get your bonus points. If you have a $0 annual fee for your first year and you cancel it before the renewal, you will be capable of avoiding the charge. If you are after additional bonus points, please not that the same bank is not going to allow you to apply for them at least for 12 months after the cancellation.

27. 14. How do bonus offers work? ANSWER

28. There are certain bonuses which you’d be capable of taking advantage of. These are a great way to boost your overall point balance. To receive a bonus of the kind you are going to be required to make a certain amount of purchases for a specific period of time. For instance, you might be required to make $500 in purchases for the next 30 days.

29. 15. How do points caps function? ANSWER

30. Now, earning frequent flyer points or reward point can be capped as well as uncapped. When it’s capped, you can earn points at a rate which is normal only up to a specified amount of points for a specified amount of time – for instance, 5000 points per year. After you’ve reached this particular point cap, you wouldn’t be able to accumulate more points, or the points that you accumulate will get substantially lower for what remains of the period.

31. 16. How can i maximise my frequent flyer credit card points? ANSWER

32. There are quite a few different things that you can do to maximise your rewards, even though the amount of the points you earn will vary depending on the credit card. These methods include:

    • Earning points through everyday purchases. This particular type of credit card is going to allow you to earn points as you purchase different day-to-day items like groceries or paying gas bills and others of the kind. The sooner you link the card to the actual billers, the more points you will make.
    • Bonus points. There are quite a lot of different cards which offer a substantial amount of points to new customers in the first few months. These points can quickly stack up and amount hundreds of dollars.
    • Using program partners. This is also something that you want to consider. Certain credit cards will partner up with different venues like airlines, fuel providers, and even some retainers. Buying from them will get you bonus points. Check the issuer of the card to see if there are providers of the kind – this can boost your rewards substantially.
    • Dual credit cards of American Express. Certain card issuers will go so far to issue cards with MasterCard or Visa and with AMEX. The ANZ Frequent Flyer credit card, for instance, earns 0.5 for every $1 on your Visa and 1 point for every dollar on your AMEX.
    • Using supplementary credit cards. If you request another credit card, this means that you are going to be sharing it with your partner or with someone from your family. This is a great way to boost your point earnings.
    • Gold, platinum and black cards. These are all superior to regular cards. As such, they are likely to give you more points for every $1 that you spend.
33. 17. What’s the difference between a low interest rate credit card and a balance transfer credit card? ANSWER

34. With the low interest credit card, you will get an Annual Percentage Rate (APR) for the entire life period of the card. On the other hand, the balance transfer credit card will only attract and low interest for a certain period of time, from the moment you open your credit card account. Once the preliminary period expires, the interest rate will increase on the balance transfer credit card. However, the low interest rate credit card will be as long as the card is valid.

    The standard APR for most of the credit cards, especially the ones that are marketed for students is between 14.24% and 24.24%. If you are a student, you are eligible to apply for the low interest credit card as long as you have a good credit score and a stable source of income.

35. 18. Do I need to close my other credit cards? ANSWER

36. You may not necessarily close the other credit cards, but you should make the low interest credit card the main card. This is mainly due to the lower payments that you will have to make, reducing your financial obligation significantly. You should be careful with the purchasing habits when using the other credit cards.

37. 19. Do I need a low interest rate credit card if I always pay in full? ANSWER

38. If you usually carry a credit card balance every month, there a low interest card may be ideal. However, if you make full payments on your credit card balance, you may want to consider a rewards credit card.

39. 20. Why is excellent credit necessary for a low interest rate credit card? ANSWER

40. The interest rates on credit card are based on the risk levels. Credit card companies will use the credit score to gauge the risk and set the interest rates. If you have a low credit score, you are considered to be a greater risk, due to credit mistakes from your past. With this in mind, your low credit score will cause you to pay higher interest rates, as compensation for any risk of defaulting or making late payments. On the other hand, any consumer that has a high credit score will have a lower risk level, and due to their great credit history, they will get lower interest rates when they borrow money.

41. 21. WHAT’S AN FBO? ANSWER

42. fbo is short for fixed base operator and is a legacy term. in an airport, an fbo is known as the private jet terminal and handling facilities.

43. 22. WHAT CATERING WILL THERE BE ON BOARD MY PRIVATE JET? ANSWER

44. The catering on board will be determined by the duration of the flight. prepared hot food will usually be served by a flight attendnet on longer flights, while cold food will be served on shorter flights. you can always stipulate to private jet travel what you would like to eat and drink on your private jet flight.

45. 23. HOW MUCH IS A PRIVATE JET FLIGHT? ANSWER

46. There are various pricing points for private jet flights. the most budget-friendly type of private jet flight is a charter flight which is a small prop aircraft such as a diamond twin star which flies between new york and boston and costs as little as 2500 usd. most charter flights cost betweeen 2500 usd and 500,000 usd. on a gulfstream gv, a round-the-world tour can cost upwards of 500,000 usd. on average, most private jet flights tend to be one hour and thirty minutes each way and fall around 15,000 usd in total. the three ways to fly on a private jet include ad hoc charter which is the same as hiring an aircraft for a specific destination, ownership of a private jet which is a very expensive option and fractional ownership which includes sharing the total cost of an aircraft for an annual fee paid upfront.