If you’re interested in getting a new credit card, you need to make sure that you’re getting the right card for you and anyone in your family. Every family is going to need different things in their credit card choices, which is why there are so many different cards in the first place. If you need to know more about how to choose a good credit card, here are four things that you can do to make sure you’re getting the best card for your needs.
1. Annual Fee
The first thing to look at – and the thing most people notice most prominently – is the annual fee. However, not everyone should just look for a $0 annual fee. While many families will be able to appreciate a $0 annual fee, cards with a higher annual fee may also offer other benefits that you might not get with a $0 annual fee card. Decide on an annual fee that works for your specific family, then check for all cards underneath that cap.
2. Sign-On Bonus
A sign-on bonus can be one of the best ways to save money with a credit card. When you first sign up for a credit card, you may be able to access a bonus that you can get by spending a specific amount of money within a certain period of time. Check for the best credit card bonus offers, then see which ones might work best for you. By choosing a bonus that has requirements your family can actually meet, you can get all sorts of sign-on benefits.
3. General Rewards
Next, it’s important to look at the general purchase rewards that you might be able to get as a cardholder. Commonly, credit cards offer you a specific percentage of cashback or rewards points on every purchase, and you may get extra on purchases in certain categories, such as travel, eating out, and groceries. See whether you get points for making purchases with this credit card, as well as what categories give you extra benefits.
4. Other Benefits
There are a whole host of benefits that you may be able to access as a credit cardholder that aren’t on this list. For example, you may get a yearly statement credit as part of your card privileges, special point bonuses during certain times of the year, and discounts on certain travel purchases you make. These are extremely individualized for every credit card, so it’s important that you check the list of benefits available with your specific credit card.
Conclusion
Getting a new credit card is something that can be pretty tricky. It’s important to pay attention to all the elements that come along with a new credit card, including the annual fee, any sign-on bonuses, general purchase rewards, and the other benefits that come along with the card. As long as you think about all four of these things, you’ll be well on your way to getting your perfect credit card.
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