There are a lot of retailers out there that offer credit cards to their customers in partnership with financial services providers. Often, these retailer-issued credit cards provide interested individuals with a lot of the usual features of such financial products in addition to incentives designed to convince them to spend on the retailers’ products and services. For a perfect example, look no further than BP’s credit card, which encourages people to spend in exchange for discounts on BP’s gas. Something that might interest those who are already making regular purchases from BP because if they are doing so, they should at least be rewarded to some extent for their customer loyalty. Here are 10 benefits of having a BP credit card:
Credit cards are a convenient way to make payments, with the BP credit card being no exception to this rule. This is particularly true when people need to make bigger purchases, seeing as how carrying around a lot of cash can be not just inconvenient but also a bit unsafe.
Speaking of safety, credit cards come with a lot of protections that aren’t necessarily offered by other payment methods. For example, if someone has been cheated out of the product or service when they make a purchase using a credit card, they can get their money back. In contrast, if they were cheated while using cash, their chances of a successful recovery are not so good.
3. Availability of Funds
Credit cards are a form of revolving credit, meaning that their users can borrow up to their credit limits at a time as well as a place of their choosing. This is much superior to non-revolving forms of credit, which require an application process, no matter how streamlined it might be.
4. Widespread Acceptance
The BP credit card is a Visa. As a result, its users don’t need to be concerned about theirs not getting accepted, seeing as how Visa is accepted by millions and millions of vendors situated all around the world.
5. Credit Building
Of course, how a person makes use of the BP credit card will end up on their credit score report, which is one of the most popular methods for determining whether someone can be trusted with credit or not. In other words, just by using their BP credit card in a responsible manner, interested individuals can make themselves more appealing as customers to a wide range of financial services providers.
6. No Annual Fee
The BP credit card comes with no annual fee whatsoever. In part, this is beneficial because it lowers the costs of having the credit card. However, it should also be noted that this provides the user with increased control by removing the need for them to use their credit card more so as to make the nonexistent annual fee worthwhile.
7. Introductory Offer
Like a lot of credit cards out there, the BP credit card has an introductory offer to appeal to new customers. In short, the introductory offer consists of a 25 cent discount on each gallon for each $100 spent using the BP Visa in the first 90 days.
8. $0 Fraud Liability
Naturally, the BP credit card comes with its fair share of protections for consumers who are concerned about being cheated by malicious individuals out there. One excellent example is the $0 fraud liability, which essentially means that the user won’t be held responsible for fraudulent charges on their credit card.
The BP credit card comes with rewards for making use of it on a regular basis. In short, for each $100 of spending, its users can expect discounts on gallons of gas. Spending at BP earns a 25 cent discount per gallon; spending on groceries, dining, and travel earns a 15 cent discount per gallon; and spending for other reasons result in a much smaller 5 cent discount per gallon.
10. More than One Way to Redeem Rewards
There is more than one way for interested individuals to redeem their rewards. One example is redeeming them at the pump, while another example is redeeming them in the form of a statement credit. This versatility should help make the credit card user’s life a little bit easier.