2 Credit Cards to Help Reduce Interest Payments
While there are some people who simply dislike credit cards because of past credit card debt experiences, I have come across a couple of credit cards that actually helps in reducing your credit card interest payments.
Money Return Visa
The first card is the Money Return Visa from Bank of America. This credit card actually pays you back 10% of your annual interest that you pay on the card after every year. It applies to both purchases and balance transfers. You can also get a 0% introductory apr for six months (though there are obviously cards that offer 12 month 0% teasers). This is a card you may want to consider if you have credit card debt.
ThankYou Redemption Network Program
The Citi ThankYou Redemption Network reward program from Citibank has an interesting reward feature. You can actually exchange reward points to reduce and pay your student loan. Here is how the formula works : 2,500 points gets you a $25 loan rebate, 5,000 points is worth $50, 7,500 points ($75), 10,000 points ($100), $25,000 points ($250), 50,000 points ($500), 75,000 points ($750), 100,000 points ($1,000).
You can use the points to pay off any student loan. Hence, if you are a college student, you might want to consider the Citi mTVU Platinum Select Card. You can also get a card with the Thank You Redemption Network reward program.