Three Rules For Getting The Best Credit Card Reward Offers
People often wonder what kind of credit card will give them the most valuable credit card rewards. Should they get a travel rewards card, or a co-branded airline card, or a cash back card with rotating reward categories?
The fact is, all of these types of cards can give great rewards and be very worth carrying with you. But the way to ensure that you’ll have access to the absolute best rewards isn’t choosing a great card – it’s making sure you have great credit.
Too many credit card shoppers don’t think about their creditworthiness until they’ve been turned down for that elite travel credit card that offered such an amazing sign-on bonus, or they’ve applied for a store card at the register of their favorite shop and been told they’re ineligible. It’s embarrassing and disappointing to be rejected, even by a credit card company. To make sure it doesn’t happen to you, follow a few simple rules for maintaining a solid credit score and being deemed creditworthy by the credit card issuer of your dreams.
- Rule number one: always pay your bills on time. That goes for all your bills – credit cards, mortgage, utilities, student loans, business loans, all of it. Set up automatic payments to be deducted from your account before the due date, so you’re never late, even if you’re out of town, busy, or down with the flu.
- Rule number two: never max out your credit cards. One of the big things that counts against your credit score is if you’ve used up most of your available credit. It’s called your debt-to-credit ratio, and you want to make sure it stays below 30%. Even better, keep it below 10%. That means if you have a credit card with a $5,000 limit, you don’t want to carry a balance of more than $1,500.
- Rule number three: don’t close your accounts. The longer you have credit card accounts open, the better. Length of credit history is another thing that credit bureaus use to calculate your credit score. So, even if you’re not using an account very often, make sure it stays open, and in good standing. It’ll help boost your credit score over time.
By following these three rules, you’ll have a good credit score, which will make you creditworthy enough to qualify for the absolute best credit card rewards.
Latest Credit Card Rewards Guides
When looking for a new credit card, most people want one that will give them the most rewards. But with so many different types of rewards credit cards to choose from, how can folks know which one is going to deliver the most bang for their buck?
If you have a cash back credit card, chances are it’s one that offers you 5% back in certain spending categories that change each quarter. These types of cards are some of the most popular cash back cards, and for good reason. It’s an easy way to earn cash back in different ...
Double and triple points can boost your rewards balance, while rotating categories of 5% back often let cardmembers earn up to $75 cash back per quarter.
Did you know that a credit card could do much more for you than simply pay for purchases? A credit card is a tool, not just a payment method, and if you choose the right tool, you’ll be able to do more than you ever thought possible.
Rewards credit cards are great for earning airline miles, cash back, and points to use in a variety of ways. But there are some benefits to cash back cards that you might not know about. Here are five unexpected perks that your rewards credit card might offer you