What’s the best credit card for me?
o Reward programs. Visa, MasterCard, Discover, or American Express and other major credit card companies have reward programs. Reward programs give you special privileges or services for being a credit card holder. Some of these programs include frequent flyer programs, where you are given one frequent flyer mile for each dollar spent. If you are quite a traveler, then a credit card with this program might be for you. Some offer cash-back options. Most common are discount offerings at retail stores or online chains.
o Annual fees. The annual fee is an important consideration, especially those who have a hard time paying off their balances monthly. If you think that the annual fee you have to pay to keep your card is way too high compared with the privileges you get from your card, it would be probably better to stop using the card.
o Member benefits. Credit cards promise various benefits. Some have travel protection as part of the benefits, while others offer roadside assistance. You have to consider your lifestyle in checking out a card’s benefits.
Remember: On choosing credit cards, choose wisely. If you need to, discuss your specific financial needs with your financial advisor.
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