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Not sure how to choose between a cashback credit card and a reward credit card? Here are a few hints on how to compare credit cards to help you decide which one is the right one for

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

you.

Definitions: A cashback credit card gives you - what else? - cash back on your purchases made with that credit card. The amount is usually a percentage of t

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

Examples of combination products may in

he purchase from .5% to 5% on certain purchases. Depending on the particular card, the cash back may be a flat rate on any purchase that you make, a percentage of certain qualifying

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

purchases or a combination of the two.

Example: The Morgan Stanley Platinum gives you 1% cash back on the first ?2,000 that you charge to your card each year, plu

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 .5% of the rest of your purchases up to your credit limit. They issue you a check once a year for the amount of your cash back.

Example: The American Express Pla

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

Combination pro

tinum cashback credit card gives you 2% cash back on all your purchases for the first three months, then 1% on all your purchases for as long as you use your card.

Other cashback c

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

redit cards may offer you cash back on purchases made at certain merchants, or on a certain kind of purchase like gasoline.

Rewards credit cards also pay you back for using them, b

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

ut the payoff may be in points or miles or some other scheme. When you use rewards credit cards to make purchases, you'll earn points or miles that you can spend on products offered

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

by the reward programme that your credit card company manages. The products offered in the rewards programme depend on the merchants and manufacturers with whom your card company h

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

as partnered.

Example: The American Express Nectar Credit Card is a typical rewards credit card. For every ?1 that you spend, you'll earn 4 nectar points. In addit

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

ion, many participating merchants offer extra nectar points as incentives to make purchases from them - currently, for instance, you can earn double nectar points for every purchase

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

Following aspects would a

of BP motor fuel of 25 litres or more. You can redeem your points from the membership rewards catalogue that includes luxury merchandise from Bodum, Alessi, Conde Nast and many oth

dd to the challenges in developing combination products:

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

ers.

Compare Credit Cards to find which is best for you There's a lot more to comparing credit cards than deciding which one gives you the most points or cash bac

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

k though. There are some really good comparison sites that make it easy to compare cashback credit

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

cards side by side so that you can see APRs, fees and any restrictions that may make a difference in choosing the right card for your needs. Some considerations that may apply i

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

nclude:

- You'll get slightly less value in cash back than in reward points, generally - but there's no restriction on where you can spend your cash.

- A rewards credit card that

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

Professional from academic institutions, pharmaceutical industries, health care indust

partners with merchants you patronize or offers merchandise you'd purchase anyway may be a better deal for you than the smaller amount of cash back.

- When and how the rewards are

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

paid can make a difference. Usually, reward points can be redeemed at any time, but cashback is only sent back at one time in the year.

- Rewards and cash back may be offset by sli

.

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

ghtly higher interest rates. If you typically carry a balance from month to month, then the interest charges may cost you more than the cashback benefits.

In the end, choosing the

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

Companies that provide selfless information through particip

right credit card is all about what works best for you. Good comparison sites can help you compare credit cards and choose the best cash back or rewards credit cards for your needs.

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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