No annual fees
Many cards offer no annual fee. Beware of cards that offer a zero fee the first
year and hefty annual fees afterwards. Sometimes people sign up for a card with
the intentions of cancelling it prior to the fee being charged the next year
but forget to cancel the card and end up paying more to keep it.
Cash back Look
for cash back opportunities that will get you the best return. Some cards offer
a flat return on all purchases. Others offer higher amounts of cash back for
certain purchases such as gas, grocery store or airline charges. Some cards
offer cash back bonuses for signing up. For example, some credit card companies
will give you a $100 bonus check if you charge $3,000 in the first three months
of owning the card. Look for a card that will give you the most cash back based
on your spending habits. Also be aware that many cards have a limit on how much
cash back they’ll reward you.
Rewards Many
cards offer specific rewards. For example, many airline credit cards allow you
to earn miles toward a trip. Be aware that many airline miles earned via credit
card can be difficult to cash in. Blackout dates and other restrictions can
keep you from booking the exact flight you want. Retailers often offer rewards
for using their credit cards - many
allow you to earn bonus dollars to spend at their stores and may offer
exclusive coupons and promotions to their credit card holders.
No foreign transaction fees If you’re likely to travel outside the country it’s
important to look for a card that doesn’t have any foreign transaction fees. These
charges can add up fast. If you’re shopping online from a foreign country,
foreign transaction fees can apply.
Balance transfers If you have a high interest credit card and you’re looking to transfer
your balance, there are plenty of cards that can save you money. Many cards
offer 0% interest on balance transfers for a specified period of
time.
No late fees
If you’re forgetful about paying your bills on time, a card without late fees
can save you a lot of money. Many cards will forgive a late payment once or
twice a year without charging hefty late fees. Of course one of the best ways
to save money with a credit card is to avoid carrying a balance each month. Paying off your card in full and enjoying the
perks can help you stick to your budget.
About the Author: Amy Bennett writes about finance and
small business topics such as how to use a wireless credit card machine.
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