A good credit card is a great way to get more out of your purchases. When you have a particularly good credit card, you may be able to get all sorts of benefits that can seriously impact the way you make purchases. This can be even better for families, as the higher purchase amounts on average may create even better benefits. Here are a few of the things to look for when you’re trying to find a good credit card.
1. Spending Rewards
The first thing to look for is general rewards. Most of the time, you’ll receive these rewards just by making purchases with your credit card. The purchase options may be different for different categories; for example, you may get more points when you make grocery purchases as opposed to making other purchases. Make sure you use this credit card when you buy at the highest points category to get the best rewards.
2. Introductory Bonus
It’s very common for credit cards to offer an introductory or sign-on bonus to try and convince new people to sign up for a card. These introductory offers typically require that you make a certain dollar amount of purchases within the first few months. If you want to get the absolute most for your money, it’s a good idea to check the requirements for the introductory bonus and make sure you can hit it within the required time.
3. Credit for Certain Expenses
Next, see whether a credit card offers any kinds of credit for expenses that you have to take on. The BoA Premium Rewards card, for example, is geared largely toward travel, so you can get a statement credit for TSA Pre-✓ or Global Entry fees and certain incidental airline fees. This statement credit can help you pay for some of these travel expenses more easily, making your travel purchases much easier to handle over the year.
4. Working With the Bank That Issues the Card
If you already have a bank account with a certain bank, you may want to consider getting a credit card for that bank. Oftentimes, there will be benefits that you can access when you have a certain balance with the bank in question. It’s often called a “relationship bonus,” and especially if you have a very high balance in the bank, you can end up getting huge bonuses for your point totals, making bonus earning easy.
A good credit card can sometimes be more difficult to find than you might expect. However, if you’re able to look out for a specific list of benefits, you can make sure that your family gets the best credit card for your specific needs. These are four of the biggest benefits that you might want to look for when it comes to finding a great credit card. If you’re interested in finding your next credit card, these tips are exactly what you should be looking for.