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 Money
Management Newsletter: General
Interest
The future of credit cards? More features,
higher costs!
By The Money Management Editor
Money Management Newsletter, August 2004
Considering applying for a credit
card and feeling overwhelmed by all the options? Platinum, gold, low-rate,
travel benefits, rewards - the choices are endless.
Many credit cards offer a variety of features such as
travel protection, cash back and extended warranty insurance. However,
these options are often packaged together and to get some of the features
you really want, you end up paying for many features you may not use.
How do you choose the right credit card to fit
your lifestyle?
"When choosing a credit card, look at all of the
available features and decide which one will best meet your needs and
provide the most benefit," says Michelle Field, Vice-President, Retail
Cardholder Products and Marketing, BMO Bank of Montreal. "We have
made that selection process easier by creating a new kind of card that,
for the first time, customers can build themselves. BMO’s Mosaik
MasterCard allows its customers to select their benefits from a wide variety
of features and build the card that best suits their individual needs."
This new credit card offers options such as exclusive
Air Miles reward miles or cash back, travel protection, travel medical
insurance, and concierge service with standard or low interest rates.
Unique in the credit card industry, this card gives
the user the ability to build and re-build their card as their needs change.
Cardholders choose all of their features (cash back, travel protection
etc.) and can even choose the design of their card. The annual fee for
this card is based solely on the options chosen by the cardholder.
To review the major credit cards, features and fees,
check out Fiscal Agents Monthy credit
card survey, where you can have a glance at what’s currently
on offer, and how much the extra features cost in comparison.
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© , Fiscal Agents
Money Management Newsletter
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