Tips to identify the best credit card for you

These days, consumers have gained huge savings opportunities with the help of reward credit cards. These cards help you enjoy exclusive events, yield discounted rates for you to travel in first classes and achieve huge cash-back offers for all your purchases. However, you might feel a bit puzzled in your attempt to pick the best card for your needs.

Things to Check While Choosing a Credit Card

The Sign-up bonus: The signup bonus is the very first thing that should catch your attention while checking out various credit cards offers. You may end up achieving a few incredible bonuses with many of these cards, especially the ones that offer travel discounts. You must spend some time with each of these cards f you really wish to enjoy the best signup bonus. Some of these credit card companies might even run bonus hikes for small periods of time.

Cash back or reward points

The mileage that you achieve with every purchase is the most important factor for consideration after the sign-up bonus. That’s one good reason why so many of us use multiple cards simultaneously. Different cards yield bonus rewards for different reasons. One of the Chase cards is there to add points towards travel expenses and office supplies while another one caters to dining out at restaurants.

You must choose ideal credit cards for all of your biggest expenses. For instance, if your household expenses are increasing towards grocery and gas, you may check out the American Express offers. Recently, the AMEX simplycash was named the card with the best intro offer in Canada.
Annual Fees: You’re bound to come across several credit cards in the market that demand a yearly fee for maintenance. However, if you’re persistent, you’re likely to come across cards that don’t require you to pay for the same. You may continue to enjoy it with the annual fees until the second year. So, you’ll find adequate time to determine if the card is actually worth continuing with.

Sign-up Bonus for low spenders:  A large spending habit is necessary for achieving great sign-up bonuses. You could have achieved about 100,000 miles out of sign-up bonuses offered under the Citi Advantage Executive Card during 2016. But for this to happen, you’d require spending a minimum of $10,000 during the initial three months. You must choose credit cards that can match your spending needs very easily.

Additional Perks: You must check out the other perks that the card has on offer. With some cards, you may enjoy layovers for long as you gain your entry to airport lounges for free. Things like Global Entry are even covered under the free statement credit offered by some of them. If you have an inclination towards golf, you may even find cards that yield several rounds at your favorite golf courses.

Reward credit cards will come to you in a wide variety. You’ll only be able to choose the ideal card offering travel rewards or cash back once you identify your financial goals.