Credit Cards Which Go The Distance!
Credit cards are a great resource to have, especially in times when money is tight. Unfortunately, having credit cards does come at a risk. However, if you are careful in choosing your credit cards and the details that are associated with each credit card you sign up for.
The Ups and Downs of Credit Cards
There are many positives and negatives of having a credit card, but some credit cards are worth getting, especially if you like to travel. There are many different credit cards that have travel as their main focus. As you spend money, you earn points for credit card miles, which can be used to purchase airline tickets, boat tickets or train tickets. Some of these credit cards offer cash back as well.
Choosing the Best Travel Credit Card
The options you have for getting a credit card that is focused on travel rewards depends greatly on your credit history and your current income. There are some credit card companies that are better than others when it comes to providing opportunities for their customers to earn rewards.
The best credit card available that is geared toward travel is Chase Sapphire. They offer a wide variety of bonus points when you sign up and meet certain criteria, like spending $4,000 in the first three months of having the card. In return for making these purchases, you earn 40,000 bonus points, which is equivalent to $500 in travel when you redeem a ticket.
They have many other incentives for you to earn points, so if you are a frequent spender, you will earn rewards and travel often.
Citi Platinum Select
The runner up in the best travel credit card is Citi Platinum Select. In return for spending $1,000 in the first three months, you receive 30,000 miles. If you have more than one authorized user, you receive an additional 3,000 miles as a bonus.
Cash Back Credit Cards
Credit cards that offer cash back incentives are the second most popular form of credit card. Typically, these cash back incentives provide a small percentage of cash back for certain types of purchases.
Cash back credit cards provide various amounts of cash back, but unless you spend money frequently, you really won’t see much in rewards.
The second form of usage incentives. Basically, the more you use your card, the more cash back you receive. Here are the two most popular cash back credit cards that are available today.
Chase freedom is a card that starts with a 5% cash back on certain purchase. The categories are divided into quarters and the rebates are only usable for the designated quarter. The quarterly spending cap is $1500 per quarter.
The second cash back reward they offer is $100 of cash bonuses if you spend between $100 and $500 cash back if a certain charge level is reached within the first three months.
Discover offers a 5% cash back rebate program with this credit card and uses the same system as Chase Freedom. The card also provides a 1% cash back on all charges that are not covered under their quarterly incentive.