When you’re looking for a new credit card, there are a number of things you should likely be looking for. However, many people who don’t have a lot of knowledge regarding credit cards don’t really know what things they should be looking out for. If you’re not extremely knowledgeable when it comes to credit cards, don’t worry – it can be easier than you would think to find the right one. Here are four things to look for in your next credit card for the best results.
1. Great Sign-On Bonus
A sign-on bonus can help you front-load a significant amount of benefits into your new credit card. The Capital One Quicksilver sign up bonus, for example, give you a $200 sign-up bonus when you spend at least $500 on the card within three months of opening your account. This isn’t a very high requirement, and it’s also a pretty great extra bonus that you can get a lot out of.
2. Helpful General Cash Back Rewards
While a sign-on bonus is definitely a great way to front-load benefits to your card, it’s also only a one-time bonus. Once you get the bonus, you want other benefits from your card as well. If you really want to get the most out of your new credit card, you’ll want to look for a good cash back program in general. It’s typical to see 1% cash back on all purchases, but if you can find a card with a general cash back program that gives you more than 1% cash back, it could pay off over time.
3. An Annual Fee That Works for You
Annual fees aren’t inherently a bad thing; many travel credit cards, for example, have an annual fee of around $100 that allow the card to give you more benefits. If you use the card on a regular basis, an annual fee may not be a bad thing, as you might ger enough savings to pay for it and more. However, you need to know what annual fee your family can comfortably manage.
4. Generalized Benefits That You’ll Use
Most credit cards come with some kind of generalized benefits. These benefits may vary dramatically based on the card, and could include travel protection, purchase protection, extended warranties on your products, access to exclusive experiences and tickets, and more. Make sure that you take a look through the benefits on any potential credit card, as great extra benefits may not mean much if you’re not going to use them.
A new credit card can be a great choice for your family’s needs, especially if you get a credit card with great benefits to it. However, when you’re choosing your new credit card, you also need to make sure you’re choosing it appropriately. There are plenty of credit cards out there, which means that there’s definitely a credit card that can perfectly suit your family’s needs. Use these four things to find the right credit card for your family.