Credit cards such as these are no different
than other credit cards in the sense that annual percentage rates, annual fees, and monthly payments all work the same way.
Why are they more difficult to
get than other credit cards and is there a suggested time period to try again and if so, how many times.
Rewards cards frequently charge higher interest rates and annual
fees than other credit cards in order to offset the cost of the rewards program.
As previously referred to with regard to store cards, one of the ways in which rewards work well for companies is by encouraging loyalty, and by encouraging you to use that particular credit card more often for your purchases
rather than any other credit card you may have.
I argue that the Starwood Preferred Guest ® Credit Card from American Express has helped me do more creative things to save money on
travel than any other credit card in my wallet.
Hotel rewards cards typically carry higher
APRs than other credit cards and usually have an annual fee tied to them, as do other types of rewards cards.
These rewards cards are really great tools for those who are able to pay their bills on time... It's therefore the case that you'll find rewards cards sporting a higher interest
rate than other credit cards.
For example, if you have a credit card which requires a minimum monthly payment of $ 150, and that's
more than your other credit cards, you can reduce that card's balance, which will reduce the monthly payment due, which helps to lower your DTI.
Still some airline credit cards, like British Airways, Southwest airlines are better
than other credit cards.
Processing AMEX could cost you as much as 0.5 % more
than any other credit card.
Rewards cards usually charge higher interest rates
than other credit cards.
Although rewards credit cards typically don't have an annual fee, they often have higher interest
than other credit cards.