Updated on January 8, 2020
The plain vanilla gift card is the basic card without any kind of special features and perks and without any annual fee. Perks of these plain vanilla credit cards are generally same from financial institution to next, whereas card’s credit limit depends on cardholder’s creditworthiness.
Get Down the Plain Vanilla Gift Card
The plain Vanilla Visa cards, all along with some other plain financial products, are generally simple for the consumers to understand it. Terms & conditions must be very clear, and it must be simple for cardholder to use this card without even incurring any kind of fees and interest in case they don’t carry the balance or pay at time. Such kinds of the cards are good for the consumers who do not want to decipher the complicated fine print or prefer not bothering with the credit card rewards the programs, and who do not spend enough for earning the meaningful rewards. The prospective cardholders with very little credit history might find it very simple to qualify for the plain vanilla card.
Whereas plain vanilla cards are normally consistent over the financial institutions, that doesn’t mean that they provide same terms. Generally, card’s rate of interest may depend on cardholder’s credit score. Since with many other cards, if cardholder pays balance in complete and on time every month, card issuer doesn’t charge any kind of interest to you.
Benefits of the Plain Vanilla Credit Cards
The plain vanilla cards generally have the benefits of ease of use and simplicity. But, they’re not necessarily best option for each consumer. The sophisticated credit card user will not mind to jump through some hoops to get cash back and other perks. For instance, Credit Card Company might offer the plain card without any perks, and card that provides $500 cash after making over $5,000 in your purchases in first three months. Suppose cardholder qualifies for these cards, they will find cash back deal to stay worthwhile, although it may need taking some extra steps. Cardholder can have to be totally aware about when 4 month window closes or ensure to meet spending threshold before this does. The cash back reward might be worth to certain consumers who will understand how the programs work or who do not incur any kind of interest and fees on the credit card purchases.
The plain vanilla gift cards are the best choice for the new credit card users that have to focus on the learning to use the card responsibly. They’re often best option for the consumers who are planning to carry the balance, as they generally tend to charge the lower rates of interest than the rewards credit cards.