There are many choices that we are faced with in life, some more important than other for sure, but making the right decision will often help you to save money or at least achieve a deal of satisfaction in the knowledge that you have chosen well.
Deciding whether to go for the Chrysler 300 for your next car purchase is one such decision and another example would be when you manage to pick the right travel credit card.
Flickr Creative Commons Jason Matthews
A card fit for purpose
It would be right to suggest that all credit cards work in the same way, but with some many different providers around and plastic money an integral part of modern life, it can prove to be an expensive mistake if you don’t choose a card that provides the sort of benefits that fit your needs.
If you are looking for the perfect travel-related card for example, that is not an easy task, as the various different benefits that each card offers, might be more relevant or appeal more to your circumstances than someone else.
The starting point would be to decide what sort of benefits you are looking for, such as air miles or cashback, so that you can narrow down your options and least find a list of credit cards that offer the sort of travel perks that you are looking for. Chase Rewards, for example, considered the most valuable points in the rewards space; they are easy to earn, you can transfer them to your preferred airline or hotel partner, they are easy to redeem and offer cash back.
A big bonus to boost your balance
One positive aspect to consider is to maybe look for a travel-related credit card that offers you a big sign-up bonus on your rewards points.
When you shop around you should be able to find a number of cards that are trying to entice you with the sort of mileage account bonus that almost gets you close to a free flight before you even get started, with some even going that extra mile as it were, and giving you enough to get you a seat on a plane, just for signing up.
Just as an example rather than a specific recommendation, some offers that have been noted, include a 25,000 mile bonus on the Alaska Airlines card, and the Citi Prestige card could reward you with 50,000 points if you exceed $3,000 of spending on your card in the first three months.
Getting a big bonus from some of these and other card providers is a real no-brainer and choosing a card that offers a big sign-up bonus is probably a deal-clincher if you are trying to decide between a couple of choices.
Work out your spending pattern
You can’t expect to get something from nothing and you may well find that in order to get some of the biggest bonuses available, you are going to have to get your spending boots on.
Take a look at the minimum spend requirements in order to unlock the bonuses available, so that you know whether it fits your spending pattern. If you are a regular traveller and are likely to meet these minimum spend entry points, then you should be able to find a card that rewards you for using your card regularly.
Be careful about signing up for too many cards to get the deals, as it could cause some issues with your credit score, which is why it is better to make an informed choice and go for deals that tick your particular boxes, such as good air miles or generous cashback.
Richard Kees likes to be frugal, and as a family of 6 is often looking at ways to save money whether that’s on groceries or vacations. He writes about personal finance and savings, his articles having been published on various websites.