When you’re looking for a credit card, you’re probably wondering if you should either apply for a low interest based credit card, or a card that’s going to offer you a bunch of rewards, whether it be cash back, or some other type of incentive. I think both types of cards are the best, but before we get close to judge, let’s take a look at which one will work best for you and your wallet.
Pay if off in full – earn rewards
I’m always a fan of paying off my credit cards in full. This way, I don’t have to worry about the interest rate. If you do the same thing, you won’t have to worry about the interest rates as well. This way, when you pay off your card in full, you can get rewards, rather than an interest rate that you don’t have to worry about anyways.
Get stuff for money spent
Instead of having a low interest rate, and paying less to the banks, why not pay your card off in full, and get rewarded? Let’s say that you spend $100 in one month, and you get 100 points. You may find that if you spend $1,000 with your card, you’ll be entitled to a small gift card. I know it doesn’t sound like a lot, but you’re getting something just for using your card!
Low interest is great for intro rates
If you’re going to transfer a balance from one card to another, the low rate cards are the way to go. You’re going to pay less in interest, and you won’t have to worry about paying the higher rate you’re paying today. This works out great for those looking to transfer a balance from something like a mortgage, car payment, etc.
In the end, you’re probably seeing where I’m going with this one. If you pay off your card in full, you won’t have to worry about your interest rates. Instead, I would look toward getting rewards. As long as you’re good with your money, you won’t have to worry about interest!
Related posts:
- Cash Back Cards vs Low APR
- Snagging the Best Cash Back Reward Card
- Best Credit Cards if you want to…
- What To Know About Credit Cards
- Credit Card Fees
