These days, we are bombarded by credit card deals all offering us what appear to be amazing deals. But where should we start when considering which one to get? Is there really such a thing as the ‘best’ reward credit card ?
Well, the answer to that is that there will be a best reward credit card but the chances are that what is best for you might not be best for your friend. In reality, what is best for you depends on a number of factors.
Because we all have very unique lives, different lifestyles and personal interests, the idea of a best reward credit card isn’t a one size fits all solution. You need to think about this when choosing a card as once you get it, you won’t be looking to change it for a while usually.
So, when that new offer lands on your doorstep, don’t get carried away by the glitz and glamour of the images. Look at the detail of exactly what is being offered and shop around a bit.
With each reward credit card offering something quite different, you need to make sure that the rewards suit your own personal circumstances. If you get one through the post and it is offering lots of rewards or discounts on sport-related products and services and it has been ten years since you were last at the gym, this is probably not the deal for you.
However, if a card comes through offering great travel-related rewards and you are an avid explorer, this may be right for you. Don’t forget to look at the small print to check what the terms and conditions are before signing on the dotted line though.
Applying for any kind of credit card affects what is termed your credit score. This is because credit card companies do an online hard search through your credit files to check that you are someone they can trust with their service.
Each hard search affects your credit rating so you need to be mindful of this as you may also be looking for things like a new mortgage or car finance in the near future so you don’t want these to be affected by credit searches for credit cards that don’t suit you down to the ground.
Make sure that the reward credit card is something that you will benefit from on a regular basis. It could be reward points towards products and services you love or free coffees from your favorite coffee shop. Some cards even offer cash back on purchases so if you love going to the mall, this might be right up your street!
The reality is that there are some great ways of finding out which reward credit card is best for you. Look at reviews from customers and on other sites such as this one. to get a list of the pros and cons of each card. Doing your homework first will really help you make the right decision for you.