According to a recent report by ABC news, if you’re not using a credit card that gives you rewards, you are simply throwing money away. It seems like today, plastic has almost replaced cash all together, and those who would like free money need to jump on the band wagon while they can. You could be earning reward points every time you shop.
These cards are great for those who manage their money well and pay in full at the end of the month, however these cards are not recommended for people with credit card debt since the interest rates tend to be higher.
There are numerous different credit cards to chose from with a wide variety of rewards to choose from. Of course we all want to get the best rewards possible for our own personal interests and wants, but how are we to know which card is going to give us the best deal on what we want?
First things first, decide which is most important to you; for example:
-
Cash Back?
-
Travel?
-
Gifts?
Then pick a card that offers the best rewards for what is most important to you:
-
Cash Back? You will want to get the American Express Blue Cash Card; supposedly this card will give you the most bang for your buck, offering 5% cash back on everyday purchases after you have spend $6,500 an around 1% before you reach that $6,500 mark.
-
Love traveling? Capital One’s Venture Card will be the way to go for you. This card will give you two miles for every dollar that you spend, and 10,000 miles just for signing up if you spend more than $1,000 in the first three months.
-
Want to get out there and Shop with your points? The American Express Fidelity Rewards card; offering you two points for every dollar that you spend.
Keep in mind that you should weigh out the pros and cons before hand however. If something sounds too good to be true, it just might be. Some credit cards still slip in those sneaky fees to get you to not only end up paying for those rewards yourself, but possibly pay over the cost.
Remember: It is not a good idea to pay off debt with credit cards either and to use them wisely, if you are having some short term financial trouble, seek out other means to get through until your next paycheck; such as a short-term payday loan. Check City is known for great rates and great customer care.
