The 3 Keys to a Great Credit Card: Rewards, Interest Rates, and Fees

Tuesday, June 30th, 2015

When you’re looking to add another credit card to your wallet, there are three things to remember: rewards, interest rates, and fees.

While there are plenty of other things you can focus on, these are the keys to a great credit card. There’s no need to read all the fine print and go over the terms and conditions with a fine-toothed comb if you just take a look at these three important components of any credit card. Let’s go over them one by one and see what you should look for in each.

Rewards. This is obviously the most fun part of shopping for a new credit card. Will you go for a credit card with travel rewards? These can offer frequent flyer miles, hotel points good for a free night’s stay or longer, and things like train trips, cruises, car rentals, and vacation packages. A cash rewards card offers you either a statement credit or the chance to redeem your cash back for gift cards. Points cards can usually be used for gift cards, travel credits, charity donations, or statement credits. There is plenty of flexibility built into most rewards credit cards, so you can choose the best redemption option for you. When you’re looking at rewards credit cards, remember a couple of things: the better your credit score, the better the rewards card you can get. And the second thing – don’t be afraid of an annual fee. Often, cards with an annual fee offer the absolute highest value rewards. These rewards more than pay for the annual fee. Also, most cards waive that annual fee for the first year you have the card. So don’t automatically reject a card with an annual fee, even a steep one.

Interest rates. Less fun, but still important, is the interest rate you’ll pay on your new credit card. It’s best to get a low APR credit card, in case you end up carrying a balance over from one month to the next. Theoretically, it doesn’t matter how high your interest rate is if you plan to pay your credit card bill in full each month. However, it can be hard to predict whether or not you’ll find yourself in a situation where you can’t quite cover the full amount one month. If this happens, having a low APR will pay off.

Fees. Every credit card has a fee schedule. There might be an annual fee, a fee for making a late payment, a fee for going over your limit, a fee for taking cash out of an ATM, even a fee for calling customer service or getting a paper statement in the mail. Look over the fee box and make sure you know what each of these things will cost you, if anything. Many newer credit cards are no longer charging late fees or over limit fees, at least for the first time it happens. If you think you might benefit from this, because maybe you get a little distracted or you have a lot on your plate, look for a card that won’t charge for these infractions.

When these three keys guide you, you’re sure to find the card that’s right for you.

Latest Low APR Credit Cards Guides

How To Know Which Credit Card Is The One For You August 10th, 2016

You’ve searched and searched, but you still can’t decide: which is the one for you? The one that will make you happy for the rest of your life and meet every one of your needs?
Continue »

The Credit Card Number You Need to Know Now January 2nd, 2016

Do you know your credit card number? No, not your account number. There’s another important number you should know: your APR.
Continue »

Why Your Credit Card APR Matters December 29th, 2014

When searching for a new credit card, many people don’t read the fine print. Distracted by the offers of frequent flyer miles, the promise of no interest on purchases for the first 15 months, or the cash back on every purchase.
Continue »

Why Your Credit Card APR Matters July 8th, 2014

Credit cards come with lots of terms attached. Most of the time, those little pamphlets with the fine print end up in the recycle bin, unread. Wading through pages of terms and conditions isn’t most people’s idea of a good time—and besides, all that legal language is hard to ...
Continue »

Stop Throwing Away Money with a High-APR Credit Card February 3rd, 2014

When your new credit card came in the mail, a whole bunch of pamphlets with small print came with it. If you’re like most people, you either threw them away or filed them somewhere you’ll never have to think about them again.
Continue »

Best Credit Offer
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 4 / 5
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 BestCreditOffers.com All Rights Reserved.

* The BestCreditOffers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.