Rudy Freno
How To Find The Right Credit Card For You – In observance of Labor Day, all USB branches and the Customer Service Center will be closed from Saturday, September 2nd to Monday, September 4th. Remember you can still bank using our online and phone banking options.
Opening and using a credit card comes with a lot of responsibility, but a credit card can be a financial weapon in your arsenal when used correctly. With the right credit card, you can make big purchases, earn points and rewards, and build your credit.
How To Find The Right Credit Card For You
On the other hand, misuse of credit cards can lead to increasing debt, so it is very important to choose the right card and understand how it works. The problem is that there are many credit cards to choose from, all with different interest rates and benefits, which can be overwhelming. If you think it’s time to open a credit card, here’s how you can choose the right one for you:
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Again, credit cards can be used for many things, so it’s important to consider how you want to use one before applying. Ask yourself why you want to open a credit card? What? Do you just want to build your credit? Money for a big purchase? Do you receive gifts? Knowing these goals will help you narrow your search. For example, if you want to get financing for a large purchase, a good interest rate can be a very important part of your decision. Or if you just want a card you can pay off each month to build credit, a cashless card might be right for you.
While there are many credit cards to choose from, you may also want to look for specialty credit cards or cards with special offers to help you meet your goals. For example, a credit card with a 0 percent APR (or annual percentage rate) is a popular choice for those looking to consolidate debt. There are also cards designed specifically for college students age 18+ to help them establish credit with low fees and special rewards.
Almost all credit cards have the ability to earn points that can be converted into rewards, such as gift cards and cash. Point structures can vary from card to card, so if earning rewards is important to you, it’s a good idea to understand your spending habits to get the most out of your chosen credit card. For example, some credit cards offer two or three points per restaurant, so if you’re a foodie, that card might be for you. And if you love to travel, getting a credit card that helps you earn rewards at your favorite airlines or hotels can be a great option.
Using a credit card comes with a catch – if you can’t pay your monthly bills, you’ll pay interest, and the interest rate varies by card. Some credit cards also come with monthly or annual fees, especially if they have more features or benefits. Again, depending on your spending goals, the interest rate can make a big difference in whether you make good use of your credit card or pay off the loan.
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Finally, when you’re narrowing down your credit card options, look at the top two or three and consider all of the above. Which one will work best with your spending goals, which one has a good rewards program and has interest rates and fees? Anything that checks all the boxes is your credit card.
Using a credit card correctly starts with choosing the right card first. Once you make the right decision, you’ll be on your way to building your balance and earning rewards like a pro.
And if you need more help, you can turn to your local bank. Did you know that Union Savings Bank offers personal and business credit cards to suit all your needs? Learn more and apply today.
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If you click continue, you will leave our website and enter another website that may have different privacy or security policies. The Bank provides access to this website to provide you with information and/or features. If you leave our website, you will not be subject to or protected by Union Savings Bank’s privacy and security policies. We encourage you to review the UltiPro Privacy Policy to review our partner’s privacy and security practices. After clicking cancel you will be returned to the Union Savings Bank website. When choosing a credit card, many people take a step back: They are drawn to attractive bonuses or rewards before considering whether the rewards match their spending. This means that many people are walking around with the wrong cards in their wallets.
There is no one best credit card for everyone. The best frequent flyer card is not the best card for someone who lives at home, and the best airline card for someone who lives in San Francisco may not be the best card for someone in Dallas. Most credit cards beat the competition on one feature or benefit, so it all depends on what you’re looking for.
The “best” credit card also depends on what you’ll be using it for. If you’re working to pay off credit card debt, I don’t recommend looking into credit card rewards. You’ll save money with a card that helps you pay lower interest rates. But if you pay off your cards in full each month, there’s no reason not to choose a card based on rewards.
Assuming you’re looking for rewards from your credit card, how do you find the right one for you? Ask yourself three questions:
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Before you look at that list sadly, take a moment to think about how you chose your final card. I would recommend taking the opposite approach, starting at step 3, or maybe 2, and going back to step 1. Almost everyone does this, and it greatly reduces the amount of rewards you can expect.
In my experience, most people have three types of cards in their wallets: one from the same bank where they have a checking account, a card or two from stores that offer a one-time discount at check-in, and a popular airline. . that card gives miles
Among them, the flight card is the most popular for everyday expenses and has been chosen to get free flights, because who doesn’t want to get free flights?
But this approach fails to take into account how credit card rewards are earned. Most gift cards offer rewards in specific categories. For example, airline cards tend to give 2 or 3 points or miles per dollar spent with that airline and only 1 point per dollar elsewhere. So unless most of your money is in travel, you could be missing out on hundreds of dollars in rewards per year.
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To get the most out of your credit card rewards, you need to find the right balance between your spending and the cards available in your credit rating. Otherwise, you’re leaving money on the table.
You want cards that give you higher rewards when you buy more. This means you need to take an honest look at your expenses. Do you spend a lot of money on food or restaurants? Airline tickets or gas? Maybe there are some categories where you spend more money than others and that there are cards that offer more rewards in those categories. To implement that advice, NerdWallet’s credit card tool can help filter cards by their payment types.
Think about the type of gift that will give you the best value and the most happiness. Would you like flexible points or miles? Or you can enjoy the simplest reward of all: money retro.
Now you can look at the more visible things: benefits and bonuses. Need an airport lounge, free checked bags or travel expenses? Or want cash back that you can keep in your checking account or spend when you visit Amazon?
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Finding a good credit card isn’t hard – it just requires a little self-awareness. By following this method, you can increase your income significantly without any effort. In addition, you can get more if you want to carry more cards, and