Best Credit Card Rewards
Finding the best credit card rewards
With so many credit cards options, finding the best credit card rewards isn’t always easy. A credit card that gives you low interest rates, attractive offers, and good rewards options can be tough to find. Searching for the best credit card entails a lot of research. A good place to start is to ask other people about their experiences with credit cards. You can also conduct research on the Internet and make inquires at different banks.
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Top Considerations when Looking for the Best Credit Card
Some of the best credit cards often have a low interest rate and no annual fee.
Choosing the lowest interest rate means comparing the annual percentage rate (APR) offered on different credit cards. APR is the cost of credit or the yearly interest rate that a credit card company charges the cardholder. With a low APR credit card, your interest payments are less than with higher rate cards. When looking for the best credit card, it is important to be informed about these rates and about the terms and conditions that regulate them.
“Keep in mind that, with credit cards, APR typically applies to unpaid balances, and carrying over a balance month-to-month can become expensive,” says Maureen Powers, Vice President of Rewards for Discover. “Always remember that responsible use and on-time payments are some of the best ways to avoid interest charges.”
Also, when comparing the interest rates, pay attention to the length of any introductory APR offers and to what the APR will be once that introductory period expires. While an introductory APR of 0% is an excellent interest rate, the rates could increase substantially once the introductory period is over, making the credit card expensive to own. You should also see if there are any hidden fees— including fees for making a same-day payment or payment by phone.
No annual fee credit cards also can offer good value. An annual fee is an amount of money that a credit company or bank charges credit cardholders once a year, and it adds to the cost of owning a credit card.
Another important factor when looking for the best credit card is choosing the right company. While there are large credit card companies whose cards are accepted all over the world, there are many smaller companies that can offer customers better advantages and service.
Tips for Finding the Best Credit Card Rewards
When looking for the best credit card, consider the credit card reward programs that are right for you. Some of the best credit card rewards include cash back offers, airline miles, discount coupons, gift cards and merchandise. With these types of reward programs, the more purchases you make on your card, the more cash, miles, points, or bonuses you get.
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Whether you’re looking for a rewards credit card that pays you back in cash, travel miles, gift cards, or points, the best credit card rewards program is the one that gives you the highest rewards in categories where you already spend money.