Choosing the Best Credit Card for You
There are many credit card offers out there, so the best credit card for you depends on what you want and your credit history.
If you’re considering a card for rewards, there’s a wide variety of options. Are you willing to pay an annual fee? Do you want a travel rewards card that will earn points, like Chase Ultimate Rewards points, that you can transfer as airline miles, or to another rewards program? Or do you want a simpler card that earns unlimited cash rewards back as statement credit based on how much you spend? Many rewards cards and travel cards will earn you more on certain bonus categories, like gas stations, grocery stores, or wholesale clubs. Choose wisely according to your spending habits.
Consider the sign-up bonuses that many rewards cards offer. Credit card issuers will often give you bonus points when you spend a certain amount within the first few months of account opening.
Are you looking for a credit card that will help you build credit? In that case, you may want one that provides a free credit score, so you can monitor one of your FICO scores to track your progress. If you have bad credit, you might have to pay an annual fee or get a secured card.
If you’re trying to pay off faster with a balance transfer, the best card for you would have no balance transfer fee.
Make sure you’re also considering the additional benefits cards offer. Some cards have a high annual fee, but the value of benefits and rewards can outweigh that fee. Many travel cards come with benefits like car rental and travel insurance. If you’re travel outside the country often, consider whether a card has foreign transaction fees. You may also want to look for a Visa or Mastercard, since American Express and Discover cards may not be as widely accepted abroad.