![]() Do the perks make you feel like you need to change your lifestyle in order to take advantage of them?Įarning bonus points for spending a certain amount of money when you first open the card is a pretty common (and alluring) offer. If you don't do much traveling, then it doesn't make sense to pay for a credit card that mainly boasts travel perks like free checked bags, hotel elite status, airport lounge access or rideshare credits.Ĭonsidering your personal values first will help you find a credit card that more closely aligns with your lifestyle and you can avoid feeling like you're paying an annual fee for things you may not care about or have a use for. You should also consider if you even care about the perks being offered. "Once you feel convinced you can handle credit responsibly, then you can look for cards with additional perks." "If you're just getting started with your credit journey and you aren't confident that you can use credit responsibly, start out with a standard secured card or a student card to get into the habit of being a responsible credit user first," said Tara Falcone, a Certified Financial Planner and the founder of the financial literacy program ReisUp. Doing all this work to take full advantage of the card's perks may feel overwhelming in and of itself. ![]() Plus, you'll need to take extra steps to make sure any insurance perks or subscription discounts are activated. With rewards cards, you'll need to follow the issuer's steps to maximize your point redemption, which can sometimes be complicated. Some cards with more perks and higher annual fees may have many moving parts that include more than just paying your bill on time each month.ĭepending on the card you choose, you might have to spend in certain categories to receive bonus points. How confident are you with managing the credit cards you already have?įirst and foremost, honestly ask yourself if you are a responsible and confident credit card user. Here are some questions to ask yourself to figure it out if the annual fee is worth the expense: 1. The annual fee can very well be worth it for some people, but not for others. This basket of benefits will cost you $95 per year. For example, right now the Chase Sapphire Preferred® Card is offering new customers 60,000 bonus points after they spend $4,000 in the first three months after account opening (that equates to $750 toward travel booked through Chase Ultimate Rewards®), 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, rental car insurance, trip delay protection, a $50 annual Ultimate Rewards Hotel Credit and more. There are tons of credit cards out there with tempting perks. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds ![]() Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Taxes +More All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds Small Business +More All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief
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