Secured credit cards are now offering cash backrewards to their users. The users are getting a loanjust like those who have the unsecured credit card.The interest rates are charged and there is a sign upfee even though there is no annual fee or servicecharge the customer is still charged interest for theuse of the card. Many Lyoness credit card companiesare offering special cash back rewards as an incentivefor the user to get more customers.
The secured cards are becoming popular in todaysmarket place with all the advantages the user has andthe ability to earn rewards. The credit card companiesare now offering the user a chance to earn extra moneyby getting new customers for them. The residuals canbe a onetime offer or in some cases they are giving thecustomer ongoing commissions for the new customersthat they bring in as a secured credit card user.
The secured card user is less of a risk because theyneed to deposit the amount of money that they areborrowing into a savings account which guaranteesthem the money. Since the money is already in thesavings account making the loan secure then thecredit card companies are assured that they will bepaid. The customer needs to be careful that theamount of interest and other fees does not take mostof their deposit. Earning cash back rewards and orgetting commission for referrals is a good incentive toget a secured cash back card.