Tips for Picking the Best Credit Card for Purchases

Picking the best credit card for purchasesreally comes down to the kind of purchases the cardholder is going to be making. There are different ways to use credit cards depending on the size of the purchase and the amount of time it may take to pay that purchase off. Here are four tips for picking the best credit card for different kinds of purchases.

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0 percent intro APR

Many credit cards offer 0 percent introductory APR when new cardholders open an account. This can be good news for those planning to make major purchases that could be paid off within the introductory “no interest period” offered by the card. Consumers should consider a 0 percent intro APR card for furniture as well as remodeling expenses. These large purchases can be hard to fund up front with all cash, but using a 0 percent APR credit card can ensure that the purchase doesn’t cost more than it would have if it was paid for in cash. The only caveat for consumers is to make sure these big purchases get paid off before the rate adjusts.

Mileage Cards

For those who spend a lot of time traveling, the best credit card for purchases is probably one that offers miles for every purchase as part of an airline mileage program. Many airlines offer their own credit cards that include miles, but many other cards not associated with airlines to as well. Consumers should also look for cards that offer double and triple miles for certain kinds of large purchases as well which can greatly increase the mileage earned.

Cash Back Rewards

Many banks offer cash back rewards to credit card customers. These rewards typically come in the form of points that are earned for purchases that are converted to cash amounts once a point threshold has been reached. Typically consumers who benefit most from these kinds of programs use their cards and pay off the balances quickly so that the cards can be used again.

Retail and Gas Credit Cards

For those who make a lot of purchases at a particular retailer, the best credit card for purchases may be one from that particular store. Keep in mind, though, that merchant credit cards are not limited to just retail stores and include gas stations as well. The main benefit of both retail and gas cards is that they often offer discounts and promotions at their locations specifically designed for cardholders. Many times card issuers will even provide coupons for merchandise or services, and gas cards often come with cash rewards for spending over a certain amount on fuel.

Deciding the best credit card for purchases really comes down to knowing the kind of purchases the consumer is likely to make and how the card can benefit the consumer when making those purchases. Whether buying large or small items, take the time to consider the card and how it fits with an individual’s spending habits is the only way to determine the best credit card for purchases.

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