How to Choose the Right Credit Card for You

Disclaimers: This is based on my own experience and I have no financial gains or any incentives from any of these companies.

If you are shopping for a credit card, you need to consider the benefit of it. I can tell you from my experience that which card works best for me and why. You can decide which one works best for you.

Discover-I find that is not doing much for me with the cash back. For example, there are certain period that you can sign up to earn more percentage of the cash back just shopping for ordinary daily products, such as gasoline. I find that annoying because if I am using the card and buy certain things, should it be automatically? When I first signed up for the card, you can redeem as little as $20. I thought I would wait till I earn more to redeem my points. Well, they raised it to $50. One of the benefit with this card is you can withdraw cash at the stores and ATM without any fees. I used it in the past at the grocery stores to get some money in my pocket instead of going to the bank. There is a limit and the store might charge a nominal fee as well.

Capital One Visa-The one that I have earned me the mileage. It was great when I had to go to New York for an emergency trip to book a few airline tickets. It saved me a couple hundred dollars based on my mileage. Now you have to read the policy. You either have to purchase the tickets with the card online or you can send in the proof later. If you are not sure, I suggest that you call the customer service hotline.

American Express, the blue sky-After I made the trip to New York, I realized that my American Express would earn me the mileage faster and it gives me better benefit. I now use this card more often. This card comes with some extra benefit such as car rental loss and damage protection, travel accident insurance, emergency travel assistance. There is some exclusion. Check with the company if you are not sure.

American Express, Hilton Honor-This card will earn you hotel stays within the Hilton stays. I have not used the benefit yet because I don’t travel that much. It sure will come in handy if you are planning a vacation. I have to speak from my experiences that I am always treated with great customer service by the company.

Besides all the above which I mentioned, you still need to consider the interest rate, late fee, finance charges, etc. All my cards have no annual fee. Most of the cards come with the fraud protection in case your card is stolen and was misused. The reason of having the credit cards for me is to build up my credit. Credit cards are not made for short term loans. If you pay in full every month, that is great! Otherwise, you need to think twice about signing up for one or two. I hope this would help you narrow down your selection and choice of the credit card. My advice to all of you is to shop smart.