Advice You - Finance

With so many credit card deals on the market, consumers can have a hard time deciding on the right deal for them. There are many rate opti

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ons for new credit card customers. These include cards with a 0% interest rate for a fixed period, low balance transfer rates or introduct

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ry rates. However, there are also cards which feature a low standard interest rate.

Who Should Get A Single Rate Credit Card?

A single r

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ate credit card can be a useful option for those who are looking to transfer large sums of debt which they are hoping to pay off. As well

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

s transferring balances from other credit cards, new credit card customers are often able to transfer balances from high interest store ca

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ds. Some may even be able to transfer outstanding loans to a lower rate credit card.

Is There A Catch?

Unlike other cards, a single rate

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

credit card has one rate for all transactions. This means there should be no extra charge for cash withdrawals, credit card cheques and p

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

rchases. It's always best to read the fine print to make sure, though.

To get the best from a single rate credit card, try to pay off mor

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

e than the minimum amount. This will reduce the amount owed as well as the amount to be paid each month.

What About Introductory Rates?

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

he whole point of a single rate credit card is that it offers one rate for all transactions. Most credit cards with a low standard rate of

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

er that rate only, with no introductory low rate. Those that do offer a low rate for a fixed period often charge for the balance transfer.

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

The charge in this case is usually 2% of the amount transferred. This can soon add up when people are transferring large balances.

What

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ind Of Interest Might I Have To Pay?

Credit card interest rates vary widely. Aside from the 0% preferential rates and the cards within th

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

e 20%+ bracket, there are several cards with rates between 8.9% and 17.9%. It's best to look at the other advantages a particular card off

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

rs before making a final decision.

Do Single Rate Credit Cards Offer Rewards?

Like other credit cards, some single rate credit cards off

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

r reward schemes. Some cards give a cash back reward of a percentage of spending over certain thresholds. For example, consumers who spen

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

d under ?3,000 a year might get a cash back reward of 0.5% of the amount spent. People who spend over that amount might get a cash back re

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ard of 1% of the amount spent.

Other possible rewards are Nectar points; air miles or other travel incentives; points which can be exchan

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ged for vouchers, travel or cash; and travel insurance.

There are also several credit cards that contribute a fixed proportion of your sp

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

nding to certain charities. The card issuers may also offer a donation to these charities as an incentive for opening an account with them

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Advice You - Single Rate Credit Cards: A Guide

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