Must-have Features You Should Look for in a Credit Card

lady with long hair holding card_16711118_xxlWith so many credit card options out there, how do you know which card is best for you? Don’t get stuck with rewards that you won’t actually use. Be in the know with our quick guide to credit card rewards.

1. Choices

Do you prefer cash back on your purchases or points that you can redeem? Before you apply, consider if the card comes with a rewards program that actually fits your lifestyle. Otherwise, you might get stuck with a bunch of points or miles that you’ll never redeem — something that happens to 1 in 5 consumers, according to NerdWallet’s research on rewards cards.

2. $0 Annual Fee
Why pay for the privilege of having a credit card? If you see this in the fine print, it should definitely raise a red flag.

3. Travel or trip perks
Look for a card that has benefits such as trip cancellation, roadside dispatch, concierge and more.

4. Emergency benefits
Extra benefits such as emergency medical and dental, plus emergency card replacement can really come in handy in a pinch.

5. Flexible redemption options
Be sure that it’s easy to access your cash back or redeem your points. A simple transfer or online points redemption website should allow for ease of use.

Other considerations:

Pick a card that offers rewards you’ll actually use – As mentioned above, decide if earning cold, hard cash or points is best for you.
Budget carefully every month – Be sure you can handle your monthly payment
or pay it off each month. You want the benefit of the rewards, not extra debt to deal with.
Keep your account in good standing – A big mistake is to fall behind on payments. This will affect your credit score.
Be smart about redeeming your rewards – Know when to redeem your points or to cash-in. If you are looking to build up a stash of cash or earn a larger item with points, you may want to wait several months before redemption.

Compare your current credit card today! Click here.

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