Introduction
MONEY MAKING PLASTICS
Plastic cards were first used in 1920 in USA for the automobile users to get fuel. Since then, they were widely used by various merchants, fuel stations and most commonly in banks. Banks usually issue two types of plastic cards: credit card and debit card. Debit card’s use is limited to the account holders’ bank balance while credit cards can be used to the extent of money limit assigned by the bank. Back credit cards are issued along with the credit cards to reward credit card customers on their spending.
History
YOUR CREDIT CARD NOW BACKS YOU
Some credit cards provider which are mostly financial institutions like banks, provide back credit cards, as a reward for their credit card usage. These are also plastic cards with the same film strip at the back and can be used for award redemption in many manners, namely; fuel redemption at selected pumps, retail shopping, and dinner/cuisine at selected restaurants are the common usage examples of these cards. Some banks even provide cash back credit cards, in which users have the option to withdraw the cash amounting to the rewards. It is an advertising technique used by the banks to win customer satisfaction.
Features
FREE CASH THROUGH CREDIT CARD USAGE
Cash back credit cards are very common and favorite among the credit card users as they can get hard cash by using these cards. A certain percentage or amount per transaction as per usage of the basic credit card is loaded or paid by the bank into the cash cards. Users then have the opportunity to use the card at designated ATM (Automated teller machine) to get their cash reward immediately. If the cash back credit card has visa or master card facility then these can be used worldwide as visa and master card have global acceptance. Other reward back credit cards are also offered by the banks which include, airline discount or free air tickets card, free internet hours card, etc.
Tips and comments
COMPLIMENTARY FUELS, CUISINES AND SHOPPING
Fuel back credit cards are offered by the banks in collaboration with fuel distribution companies, sometimes name of that company is also visible on the card. A certain percentage of amounts used from the original or basic credit card are transferred to fuel back credit cards, users can then use the back cards to the selected outlet of that fuel company. Transaction is normally done in the same pattern as in the credit cards, at the point of sale (machine where card is used). Fuel back credit cards are useful for the individual having automobiles, as they can easily get free fuel. In this way, credit cards users are encouraged to use their basic credit cards more frequently. Dinner/cuisine cards are used at the selected restaurants that normally have the business collaboration with the bank of your credit card. Shopping back credit cards are used at the selected outlet and stores on the bank panel and this card can be used to do full shopping or availing discounts. Card’s balance information can easily be taken on telephone by speaking to the representative or through internet as per the ease of the user.
