If you are a student then you would definitely know about the benefits of having a card statement credit for expenditures made during the calendar month. These statements contain information on cash withdrawals, cash purchases, and any payments made on account. The most significant benefit that one is able to have with a statement credit is that it helps you keep track of all your expenses during the entire month.
Card statement credits come in handy, especially when the need arises for instant cash. Some credit cards come with statements that come with cash back option that allows you to earn some back points for all purchases you make during the month. In addition to earning back points, you can also earn rewards depending on the type of offers you are using. Rewards come in different forms such as cash, gift certificates, gas credits, etc.
Certain cards also come with membership sites which allow you to earn some free membership points whenever you make purchases using their card. Most of these membership sites require you to pay a nominal fee every month. However, there are other cards which do not require you to pay any amount for being a member. These statements credits are usually given to you once you make a purchase using your card.
A few people prefer to earn statement credits every calendar year. If this is the case then you will have to pay an annual fee to be granted an annual statement credit. Credit issuers usually do not offer any incentives for people who prefer to earn statement credits every year. However, there are still some issuers who offer incentives to their customers. For example, some cards would give you an additional bonus or point if you purchase a certain amount of goods using your card every year.
Airline companies would also like to encourage customers to use their card and therefore they give attractive offers such as airline welcome bonuses. Airline companies give statement credit in return for their regular customers. The extent of the airline welcome bonuses would depend on the airline that you are using. Some airlines would allow you to earn up to three free airline tickets depending on the number of statement credits you possess.
Another way to earn statement credits is by participating in reward programs. An example of a reward program is the Blue Pass System. This program is offered by many hotels worldwide and allows its members to earn one point per night for staying at their hotels. The system rewards people with every reservation made under its program. In fact, this program even allows you to earn me points, which can then be redeemed for gift vouchers.
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