In this guide, we will look at the benefits of free annual credit card credits, especially reward point programs and payment method benefits. The guide will give you a sneak peek at those who are considering purchasing a new credit card or are considering changing their card.
As a rule of thumb, no fee cards do not include reward point programs, but they can often give you a payment advantage in stores and at some gas stations. In this case, the payment benefit is a discount that can only be obtained from stores of the same merchant group or affiliates. Reward points cards can be used to earn earned reward points for redeeming a variety of products or services and often include travel insurance.
First, we compare the benefits of annual royalty-free credit cards, then introduce some of these cards, and finally, explore the features and scoring programs of the various reward points.
Annual credit cards and payment benefit
Credit cards are known to have many different benefits in addition to being a mere credit feature. Typical additional benefits that come with credit cards are travel insurance and purchase and product security. In addition, cards can often be used to collect various reward points, ranging from flying points to Good Finance points. Credit card prices range from free cards up to hundreds of euros per year for premium cards. Usually the price of a card is in line with the benefits it offers, ie a slightly more expensive card offers more benefits than the one with no annual fee.
Advantages of Annual Credit Cards in Comparison
We explored and compared the additional benefits of annual fee-free credit cards:
Virtually all cards, even those that are free of charge for the year, offer some extra in addition to the credit only feature. Which card or benefit is best and most suitable for everyone will largely depend on your lifestyle and buying habits. Stockmann’s Loyal Customer is likely to benefit from Stockmann MasterCard, while a low cost flight and travel lover can get the most out of Bank Norwegian’s credit card.
Introducing credit cards that offer a payment benefit
The 2% payment benefit is only available at E-money and Shell gas stations. For other purchases, the card gives you a 0.5 percent discount on your total purchases. In other words, E-money is the only payment debit card in Finland whose benefits are not entirely confined to a particular merchant group. Here, for example, it differs from Kesko’s and S Group’s cards.
E-money Visa credit cards can be used for credit between € 500 and € 5,000 and are offered for an unpaid payment period of up to 40 days. There is no opening or annual fee for a E-money Visa credit card but when considering a card it is a good idea to consider that in practice the customer has to pay an account fee of $ 2.5 per month. An account maintenance fee will be payable if you have an outstanding balance or transactions in your account. If the invoice includes interest-bearing credit, the account management fee will increase to EUR 3.5. In practice, the annual fee for a E-money Visa credit card is therefore at least EUR 30.
Because there are such “fixed charges” on the card, it is worthwhile to calculate with E-money how profitable the card can be for yourself.