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For many people, they look at their bank account and their credit card as separate parts of their financial profile. They don’t have to be. Most banks offer some kind of credit card service. While it might not be heavily advertised, it can be one of the best credit cards for many users. First, smaller banks are more likely to have a credit card that offers cash back rewards. For many people, these are better than more complicated loyalty point schemes. Others are frustrated by the constant devaluation of loyalty point programs. The last thing they want is for their money to be loosing value rather than earning interest. Another reason people should consider a credit card with their bank is the simplicity of access. With one login, customers can look at both their bank balance and their credit card statement. Payments are simplified as the transaction occurs within a single institution. In most cases, the transaction should occur instantly, rather than in several days as it would between two separate institutions. Customers should look for the following features when considering whether or not to obtain a credit card from their bank. How much flexibility is there in the automatic payment system? For example, some systems try to force users to pay their entire balance, rather than their balance due as of their last statement. Others default to the minimum payment or steer the user to paying the balance shortly after the statement closes rather than at the due date. Ideally, you should be able to tell the system to automatically pay the entire balance, at the time of the statement, on the due date. In this way, you are maximizing the interest on your money while avoiding paying interest on your credit card. A truly great system would even allow you to be notified you when your credit card balance approaches or exceeds your bank balance or any other given threshold. Since banks have little incentive to prevent themselves from earning lucrative credit card interest, this is hardly one of the most common features out there. If there is one disadvantage to having your credit card with the same company that you do you banking with, it is that it maybe too easy to ignore better offers out there. People fall into a comfort zone with their bank, and they do not want to switch. If you are passing up much better reward cards, or cards with lower interest rates because you enjoy having your accounts in one place, you are sacrificing money for convenience. There is nothing necessarily wrong with that trade off, you just need to be aware of what you are paying for this convenience. Being aware of the advantages and disadvantages of obtaining a credit card where you do your banking will allow you to make the best possible decision on where you take your business. For additional resources involving financial help, please view PNC Online Banking, SunTrust CD Rates, best bank savings rates, Westpac Online Banking and Online Banks at http://www.onlinebanksblog.com/union-online-banking
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