How you can choose the Best Rewards Credit Cards
Thank you for making up your mind to apply for a credit card. It’s a wise step that you’ve taken. But before you proceed, you must have to take into considerations the factors that’ll help you choose the best rewards credit cards.
You need to pick the best credit card that’ll suit the purpose of what you need the credit card for. But it if you’re looking a the best reward credit cards, you’ll find in this article a great tool that’ll help you choose the best rewards credit cards for your desired purpose and purchases.
Occasionally, there’re seasons that gives you more of the opportunity to consider rewards credit card. One the seasons is summer, during summer, when summer travel heats up, it brings the opportunity to consider rewards credit card.
In this article, you’ll find the tips on how to pick the best rewards credit cards
The Major type of reward credit Cards
There’re lots of rewards credit cards to choose from. Some of them are:
- Cash Back cards
- Travel rewards cards
- Airline credit cards
- Point rewards card and so on
Cash Back Credit cards: This the type of credit cards that offers you cash back for every dollar you spend on purchases. It depends on the flat percentage of the credit card offers. Sometimes it can be 2% cash back for all the purchases you make.
The cash back may not be uniform for every commodity you buy. You can have different percentage cash back on goods like groceries, restaurants and gas products.
Airline Rewards Credit Cards
This card comes with your travel rewards credit cards. It helps you earn points which you can redeem for your flight credit. You can use it for free flights and other upgrades depending on the specification on how you can use your rewards by the credit card issuers.
Hotel Rewards Credit Cards
In considering best rewards credit cards, you can’t forget hotels rewards credit cards once you’re considering airline rewards credit cards. They enable you to earn points which you can redeem in some hotels for your free nights and your room upgrades.
Criteria for applying for a Rewards Credit Card
Before you qualify for any of the best rewards credit cards, you’ll meet the qualifications below:
- Should have a good credit score: You need an excellent credit score to qualify for the best rewards credit card. Be it cash back cards or travel rewards credit cards
- Able to use a Credit card for daily purchases: Once you’re the type that uses your credit card for everyday purchases. You’ll start earning points. The points come on every dollar you spend.
- Regular payment of Balance in Full: if you keep regular payment of your due in full each month, you’ll easily qualify for good rewards credit cards. Your payment will include the annual percentage rate(APR). if you don’t, you’ll accumulate lots of interests. This can prevent you from getting the approval for the best rewards credit card.
- Loyalty to the Airline or Hotel: If you focus on a co-brand airline or hotel, it’ll facilitate your points earnings in case cash back isn’t your target.
Things to look out for while choosing best rewards credit cards
- The Cashback or travel rewards: Find out if the cash back and the travel rewards are good enough for you.
- Redeem Rewards: Get to know how rewards get redeemed with the credit cards
- The Earn Rewards: Find out how rewards are earned with the credit card you want to apply for.
- Minimum Spending (Cash): Make sure you can meet up with whatever the minimum spending amount is for the credit card.
- Know the Sign-up Bonuses: Ensure to know the benefits you’ll get for signing up for the credit card
- Annual fees: Find out what the card charges annually for using the card.
- The Foreign Transaction fee: You must know if the credit card charges any fee for foreign transactions. Some don’t really charge for that while some cards do.
- Find out if there’re additional perks for using the cards such as credit checked luggage or access to airport lounges and more.
Rewards credit cards would be a good financial support if you have all it takes to get one and maintain it. Such include Good credit and ability to pay off your balances duly. When you do this, you’ll get the best credit card and rewards credit cards that you dream of.