How to Find the Most Suitable Credit Card?
There are now over 1,000 types of credit cards on the market, with a multitude of benefits and a wide variety of offers. They all have a variety of cash back / rewards, so people often suffer from choices. I don't think there is a perfect credit card, but there must be a credit card that fits your main needs today. Here are some ways to choose a card, let us explore the path of applying for a credit card together.
Identify the type of consumption and explore the demand for cards
Credit card users can be roughly divided into three types: ordinary consumers, small business users and students. However, these three classifications are not unique and the same user can also serve multiple identities at the same time, so the identity to apply for the credit card at the end is the main content of this article. Different types of users have different main credit card needs. In these three types of users, banks meet four main needs, namely credit needs, rewards and returns, purchasing power and loan needs.
Student User Group
Students who wish to apply for a credit card are generally not a luxury experience and enjoy very high credit card benefits. In everyday life on campus, it is difficult to have the opportunity to take full advantage of the advantages offered by these cards. Compared to the high annual fees, it will make people feel that it is not worth the loss.
But if it's mainly for accumulating credit scores and daily consumption, then the cards I would recommend are Bank of America Cash Rewards and Discover it Student Card. Both of these cards have low application thresholds and low credit rating requirements. BoA cards even have Buy Intro APR 0% up to 15 months, both with generous rewards and cashback, coupled with the nature of annual fees, these 2 cards meet almost all student needs and become a sweet dish in the hands of students!
Normal consumer group
This type of user needs is more diverse. Assuming the current emergency should reduce the pressure on reimbursement, the Citi Diamond Preferred Card is recommended. This card provides an introductory balance of 0% for 21 months.
If you need to reduce short-term debt costs and gain additional purchasing power, you can also choose the Citi Double Cash Card, which can not only provide an Intro balance transfer of 0% for up to 18 months. , but also double cash back, 1% cash back at the time of purchase and refund. 1% cash back again and no annual fee.
For users who travel frequently, Chase Sapphire Preferred is recommended. This card can be considered a must for travel enthusiasts. The card opening reward is 60,000 points, which equates to a travel value of $ 750. Most importantly, when we use points to redeem travel-related products, we get an additional 25% of the value. Wouldn't it be nice to treat $ 1 as $ 1.25?
Business user group
Small business users often lack funds and need flexible and preferential financial policies. This type of credit card often offers a higher line of credit to allow customers to obtain sufficient purchasing power to cope with the situation and generate flexible cash flows. At the same time, it will also provide detailed consumption tracking functions, which may limit the quota of authorized employees. In terms of benefits, these credit cards will offer better incentives for large purchases, such as purchasing office supplies. Recommend Ink Business Preferred Credit Card, this card contains 100,000 card opening rewards, you can also
To exchange an additional 25% of the point value.
At the same time, Citi Business / AAdvantage Platinum Select World Mastercard is also recommended, offering 70,000 miles of card opening rewards, an annual fee waiver for the first year and preferred boarding when traveling on American Airlines, designed to offer businessmen the comfort they can. Learn more
Different user groups have different needs, forming thousands of credit card options. In many cases, one credit card cannot cover everything. In addition to choosing the right credit card, you can also use a combination of credit cards to meet a wide range of needs and maximize your overall interests.