You all have bills to pay, and sometimes it can be hard to keep track of what you’re spending. But if you use a credit card wisely, you can actually earn rewards that will help pay down your balance faster. And because credit cards are subject to so much hype, here is put together the list of must-have cards based on how they compare with one another in terms of fees, rewards, and perks.
Rewards Credit Cards
If you’re a rewards credit card enthusiast and want to earn cash back, travel points or other rewards as you spend money, then this card is for you. It’s one of the best cards on the market because it offers 1.5% cash back on all purchases and has no annual fee.
Financial experts like SoFi say, “They may offer sign-up bonuses and give consumers rewards in the form of miles, cash back, or loyalty points.” If that’s not enough for your daily needs, consider getting a different rewards credit card with more features or better perks.
Gas Credit Cards
Gas credit cards can be a great way to save on gas. If you’re someone who spends a lot of money on gas or drives frequently, a good option is to get a gas credit card. They typically have lower interest rates than most other types of credit cards, which means you won’t have to pay as much interest if you’re carrying a balance from month-to-month.
Cash Back Credit Cards
Cash back credit cards are the most popular type of credit card for a number of reasons. First, they offer a percentage of your purchase as cash back.
If you’re hitting the mall and you make an $800 purchase, you could get anywhere from $40 to $80 in cash back—straight into your wallet. Second, cash back cards are great for people who don’t carry a balance since they don’t charge interest like other types of cards do. Third, some cash back credit cards offer category bonuses, like 5% on groceries or 3% on gas purchases—which means more money in your pocket!
Balance Transfer Credit Cards
A balance transfer credit card is a credit card that allows you to transfer the balance of your existing debt from one account to another. The interest rate on this type of credit card can be much lower than your current interest rate, so it’s an excellent way to save money on interest payments and pay off debt faster.
Airline Credit Cards
Airline credit cards are not the best credit card for everyday spending. Many of them have an annual fee, and they give you rewards that are not as generous as other types of rewards cards. You can get an airline credit card if you travel frequently or want to earn miles with your current airline.
Hotel Credit Cards
Hotel credit cards are the perfect way to earn rewards while traveling. They allow you to earn points or miles for each dollar spent at hotels and restaurants. The number of points or miles you receive depends on the type of card you have, how often you travel, and how much money you spend on your credit card each year.
Credit cards are a superb tool to help you manage your finances and save money. While there are plenty of different types of cards out there, let’s hope this list has given you some ideas on which one might be best for your specific needs. Take the time to compare each card’s features before making a decision about what would make sense for you!
