Solidifying A Better Future For My Kids
3 Added Benefits Of Having The Right Credit Cards
Jackie Watts
If you do not have a single credit card to your name, as a way of preventing going into debt, you should reconsider this decision. Having at least one credit card is a good idea to have, even if you do not use it all the time, and it is important to know that many credit cards offer some added benefits, which are often called incentives. If you decide that you want a credit card, you might want to look for one that offers some of the following added benefits.
Cash bonus for spending a certain amount
One of the top things people often look for when applying for a credit card is a cash bonus. A cash bonus is not available with all cards, but there are some offers that are almost too good to pass up. For example, a card might state that you can earn a $200 bonus if you spend $1,000 within the first three months of having the card. This means that if you spend $1,000, you really only have to pay back $800, because you will receive the bonus amount.
Cash back spending percentage
A second great benefit you can find with some credit cards is a cash back spending percentage. For example, a card might offer 1% cash back for all purchases you make. If you spend $1,000 in the first month, you would instantly get a $10 credit. The nice part about this type of bonus is that it is forever. You do not just earn the bonus during the first few months of having the card. Instead, it is permanent. Some cards even pay higher rates than 1%, so you could look around for a card with a high rate for the cash back bonus.
Credit monitoring services
The other added bonus you can often find with credit cards is free credit monitoring services. With these services, you will have access to your credit report. If something on your credit report changes, you will receive a notification. Having this type of service is a great idea if you are trying to work on your credit, as it can help you know what to do to improve your credit score. It is also a good idea for protection, as you will receive a notification if anything changes, and this can help you spot problems right away.
If you are interested in applying for a credit card with any of these features, look for one today and begin the application process.
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One day a few years ago, I was forced to take a good, hard look at my finances. I realized that my husband and I were living outside of our means, and I knew that we needed to make some changes and fast. I started looking for ways to spend less money, and I was able to completely eliminate some of our largest expenses. It was a lot of work, but it really helped us to feel more free financially. This blog is here to help other people to spend a little smarter and to avoid the hassles that come along with spending more than you have.