The arrival of spring has brought in a new set of credit cards in its wake that are apt for various purposes ranging from travel to business purchases, use at gas stations and more. Customers who intend to apply for the recent credit cards offers should take a look at the current entrants in the market and then make their choice. Those planning on taking a spring break with their partner or the entire family should consider the travel rewards credit cards offered by banks such as American Express and Capital One since their redemption values are higher. Though there are credit cards that offer air miles on every purchase made during spring travel, staying away from them is recommended in case you do not intend to pay off the balances in full each month. Since these credit cards attract higher rates of interest, the chances of losing money hand over fist just to enjoy better redemption are higher.

While the travels rewards card are ideal for those traveling by air, the gasoline rewards credit cards are ideal for those who intend to go on road trips. The increasing cost of gasoline has put people on the back foot and coerced them into making changes to their existing plans. Customers who want to make the most of their road trips without spending too much for their pocket can consider using the credit cards that offer rewards for purchases made at gas stations. Financial experts opine that customers who sign up for cards that offer 2, 3 or 5 points for every $1 spent at the fueling point stand to gain more than their counterparts.

Spring has also brought with it a plethora of balance transfer credit cards. Just as we began to think that the trend of balance transfer cards is ebbing away, there are a number of banks that are now offering these cards, albeit at slightly different terms. The repayment period at zero percent interest has definitely come down, but there are banks that process these transfers without charging a fee for it.

Shop around for the right credit card, gather all the necessary information so that you can make your final decision. More options mean higher chances of getting the best credit card with the best terms and conditions for you personally. To succeed you can turn to credit card comparison websites. Do your own research, acquaint yourself with other options currently available, perform a thorough comparison of the credit cards you are interested in, look into their particulars like interest rates, annual fees, rewards programs and other benefits.

Depending on your requirements and possibilities, you are free to pay your attention only to credit cards that are most suitable for your needs as compared to others. For instance, if you want to transfer your existing balance from your high interest rate credit card to another credit card, you can consider credit cards with 0% intro APR or lower interest rates on balance transfers.

Your personal approach to choosing a credit card is very important. Always keep in mind that it is you and no one else who will use that credit card and pay it off.

Due to tighter financial restrictions, banks have been cutting programs and adding excess fees left and right. Consumers felt the pinch with hiked outside ATM withdrawal fees — some topping $5 in certain states. Now, small business owners are the next to feel the pinch, as their credit card and debit card rewards programs are slowly, but surely being taken away.

Banks used to issue small business owners debit and credit cards with rewards points. Wells Fargo used to offer one point for every $4 spent, and depending on which retailer you made the purchase from points could total 16 for each $1 spent.

Small business rewards programs generally charge a fee. Wells Fargo charged a $12 annual fee. Small business rewards card work best for the small business owner who doesn’t need the rewards, but would like to use them as a bonus.

Wells Fargo had originally said that it was stopping this program for new customers, but as of August, they have decided to do away with the small business rewards program for their current customers as well. Sun Trust Bank has also stopped their credit card and debit card small business rewards programs, and JP Morgan stopped their program in July of this year.

The economy has had a huge effect on the banks over the past five years. In order for banks to remain competitive after years of bad investment decisions, they have to remove programs that aren’t generating income for them, and implement new programs that generate income. Many consumers are not aware of small business rewards cards, so it will be easy for this one to slip under the radar.

If you’re a small business owner in need of some rewards points, I’m sorry to say, but you will have to go the traditional route and find yourself a good rewards credit card (hopefully with a low interest rate). Try a reward card that gives you cash back on office supplies, or whatever your business specializes in.

Credit card advantages:

Credit cards like MasterCard and Visa are accepted universally, so it is easy to make payments whenever and wherever. Credit card companies have theft control programs and security programs which does not put the credit card user in loss, if the card is stolen. Having a good credit limit means the money is at disposal for emergency spending, or spending on the necessity even when there is no disposable money in the bank accounts. Credit card companies roll out new offers to attract new customers and retain the existing customers. Reward schemes, low interest rates and introductory zero interest rates are some of the benefits that can reward the user for spending some money using credit cards. When choosing the credit card, care must be taken to consider the interest rate charged, the reward scheme and monthly fees if any. These days, many cards are available without the monthly fees, even if the interest rates are slightly higher.

Credit card Disadvantages:

Owning credit card must be accompanied with care and thoughtful spending. Every time any purchase is made using credit cards, it puts the user in debt situation temporarily. If the credit card bill is not paid on time, the interest rate builds on the outstanding balance, and causes the credit scores to go low. Bill must always be paid on time, and paid in full if possible. Also, the spending from credit card must be done with the available credit limit in mind, since spending more than half of the available credit limit can cause the scores to go low. Although credit cards offer financial freedom, it is easy to overspend without realizing the consequences, and paying back can be difficult. Also, credit card companies may charge penalties for missed payments, spending over the available limit and may have hidden clauses that can prove to be costly.

One of the business cards that you can consider is the New Ink Cash Business credit card. This is a business card from JP Morgan Chase and offers cash back bonus of $250. Card holders can avail 5 percent cash back for spending $25000 on this card to purchase office supplies, cable services and telecom services each year. The first $15000 spent for gas and dining will entitle card holders to 1% and 2% cash back respectively. There is also an introductory offer of zero interest on all purchases made for the first six months of availing the card. The card does not have any annual fee associated to it.

The Capital One Venture for Business credit card is another card in this segment worth applying for. Card holders who spend $1000 on this credit card within the first 3 months of obtaining it will be entitled to 10000 bonus miles. Card holders can earn 2 miles for every purchase made using the card. the $59 annual fee on this business credit card is waived off for the first year.

According to this news article published in the LA Times, many businesses and retailers are against the interchange fees, also termed as payment processing fees, which accounts to nearly 2% of the total purchase value. This implies that every time a customer uses the credit card to pay for a $100 purchase, the business owner has to pay $2 to the credit card companies. Though this may not seem to be a huge amount, overall they account for millions of dollars of revenue each month.

The high interchange fees have to either be borne by the business owner or the consumer. Hence, in order to avoid this problem, many businesses including the large ones such as John Hancock have decided to stop accepting credit card payments from consumers. This company that is one of the bigwigs in the financial industry sent out letters to all its consumers informing them that they would not be accepting insurance premiums through cards considering the high costs associated with these transactions. While lawmakers are yet deciding on the approach to curtail this problem, businesses are taking the measures they can to keep costs low.

Consumers can either opt for gas reward cards that are offered by the banks or sign up for cards that are offered by major fueling stations including Shell, ExxonMobil and BP. The rewards on the cards issued by the gas stations are richer as compared to the rewards that you can get from bank issued gas rewards credit cards. In addition to this, there may be a lot more restrictions on the cards issued by the banks as compared to the cards issued by the companies directly.

The only way you may stand to benefit with the gas rewards credit cards issued by the banks is if they offer accelerated rewards on these cards. However, on the flip side, banks limit the duration of the accelerated rewards which will again prove to be a setback to the card holders.

Another drawback with the bank issued gas rewards credit cards is that consumers have to keep a track of the expiry date on their points and claim the rewards before the time period elapses. Most often than not, customers do not track this time frame and hence end up losing their accumulated points.

The Visa Classic Iberia Bank is one of the best cards in this segment. With interest rate as low as 7.25%, the only hitch is that getting approval for this credit card can be slightly difficult.  In addition to having a good credit score, you will also need to show proof of sufficient income to clear off the debt you might incur on the card. As a promotional offer, the bank offers and interest rate of 1.99% on balance transfers done within the first six months of getting the card.

The Platinum Premier Visa from First Tennessee is another card that is worth applying for. The APR for the first six months is just 3.9% and post that the APR can vary from 5.15% upwards depending on your credit score. In addition to this, card holders will also get $1,000,000 worth travel insurance.

The Simmons First Visa Platinum credit card cannot be missed under this segment. Available only for people with credit score of 750 and above, this credit card offers APR as low as 7.25%. The card does not carry any annual fees and does not charge extra for transferring balance from another card onto this one.

The Platinum Prestige Credit Card from Capital One is one of the best examples of unsecured cards with low interest rates. The interest rate on this card varies from 10.9% to 18.9%. The bank is also offering an interest free period for balance transfer and purchases made till July the following year.

Another credit card in this segment is Discover’s Escape card that offers and interest rate that varies from 10.99% to 16.99%. Termed as a low interest credit card from this provider, this card offers an introductory period that lasts first six months.

The Simmons First Visa Platinum credit card offers an interest rate that is as low as 7.25%. But, there is no introductory offer on this credit card. Also, this credit card is reserved only for people who have an impeccable credit history and have sufficient proof that they can manage their finances well. Though it is extremely tough to gain eligibility for this card, the ones who have it in their wallet can save hundreds of precious dollars.

The Palladium card is made of gold and palladium and will soon have a microchip embedded in it. The purpose of this chip is to prevent consumers from running into problems when using this card during their overseas travel. Credit cards from the US are not accepted in most of the western countries because of the change in technology. The microchip card is being designed to overcome this problem and provide consumers with hassle free travel.

To start off with, Chase plans to issue this new technology card only to customers who have high income. However, it will soon be made available to the regular card holders as well. The main purpose of issuing it first to high worth individuals is to prevent them from moving over to other competitors, especially American Express since it is coming out with the same technology, almost at the same time. Chase intends to increase its profits once these card enter into the market and reach the hands of people.