Selecting the right option “is all about personal preference and how you use your card,” says Elizabeth Rose, AVP, Deposit Product Manager at Independent Bank. Rose offers these three steps for finding the right card and getting the most out of your rewards:
Know your lifestyle. “You want to make sure you’ve got a card that’s going to best fit your needs,” says Rose. If you swipe your card a lot and like to travel, then a travel reward is probably best. If you’d rather your card help pay down your bill each month, then a cash reward may be the way to go.
Research your options. Sites such as CompareCards.com or ConsumerReports.org offer comparison tools and guides for selecting credit cards. Independent Bank also offers a variety of credit and debit card options. Explore whether certain types of purchases give you more rewards. Other perks such as up-front bonuses, teaser rates, and waived annual fees should all be weighed carefully against your long-term needs.
Review the fine print. Be sure to check the details of introductory offers, what happens when those initial offers expire, and what happens if or when you decide to close the card, “so you know what the life of the card is going to look like,” says Rose. “Each account is a little bit different, and you want to be sure you know all of the stipulations before you sign up.”
* Independent Bank is not recommending any specific website, and the customer is responsible for researching the privacy and security policies, as well as verifying the legitimacy of the website to determine if they would like to proceed with services.
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