Deciding to take the plunge and get a credit card is a scary experience. But it could benefit you in the long run if you have a good idea as to what cards have awesome bonuses. You may not know this, but some credit cards should be avoided if you can help it while others could boost your credit score. Below are ways you can identify which credit cards are good and which should be avoided altogether.
Some cards offer cash incentives for you to use them in the first place. If you are someone that enjoys the experience of getting cash back with each purchase, then you probably would particularly like the Blue Cash Preferred Card from American Express. You do need a great credit score to qualify for this card and if you have it you can get up to 6% cashback with each purchase at your local supermarket and 3% cash back at gas stations.
Make sure you get a card that offers bonuses. For example, the Capital One Cashback rewards card offers a 1% rebate if you make your payments on time every month which could be a huge incentive for those looking for the right credit card and have the financial capacity to pay off their debt on time. This card will also give you up to 50% of the rewards you acquired throughout the year. Be sure to do your research before taking the plunge and applying for this card.
There are also cards to consider that don’t charge an annual fee and give cashback. For example, the Chase Freedom Visa includes what is best about the Discover Card with their bonus rates that rotate from year to year. It also gives you up to 5% cashback on purchases which could have a positive impact on your wallet. If you are a good shopper, however, you can earn up to 20% cash back for certain applicable purchases.
For those that have the capacity to be focused shoppers, one card to consider is the U.S. Bank Cash+Visa Signature card. This card is great for those that only spend money on a variety of goods and services. When you go with this card, you will get text messages periodically informing you of where you should use your card and what you should be using your card for. Unfortunately, if you use this card at gas stations, you will only enjoy a 2% cashback incentive. However, there is a wide range of merchants available where you could potentially get 5%.
There are countless options to choose from when you decide to apply for a credit card. When shopping around for the right one, you are going to want to do your research and make sure you are protected. Some cards do offer purchase protection which means you could call the credit card company and inform them of any issues you have. They will ultimately do their due diligence to make sure the purchase is not fraudulent. Another thing great card companies do is by checking into competition disputes. For example, if you decide to purchase someone with your credit card but found the item cheaper elsewhere, you could dispute it with your card company and they could return the difference.
Getting a credit card can be a scary experience especially if you are having a difficult time financially. But ultimately, if you are wise with your finances and do your due diligence, you won’t have anything to worry about. Making payments on time and being sure you stay up to date on the different incentives your card has is really all you need to do in order to keep the account open.