Most people use their credit cards on a constant basis. During the COVID-19 episode, a lot more people relied on these to help them get through financially. Many used them for purchases that they may usually use cash for. Items that became common to buy with the credit cards during this time were groceries and cleaning supplies along with what protective equipment they could source out. There were two reasons for the increased usage of these cards during this time. One was because of the shortage of cash, and the other was for shopping online.
A Discovery
This is the time where most credit card users really learned what the extra benefits were with the cards they were using. A lot of people will opt into a credit card because they received easy approval. Then there are some who will do some careful research into which card is going to provide them with extra benefits that are best for them.
Options
The provision of credit cards is a very competitive business. This works to the advantage of the consumer, if they capitalize on this. Aside from what interest rates are being offered consumers need to focus on what are the best rewards being offered. They all have something different that they promote. You need to set your priorities as to what rewards will serve you the best, then seek out cards that are going to offer you this.
Some rewards areas that you may want to focus on are:
- A card that is the best for grocery shopping
- Which one is best for overall shopping
- Which card is good for bulk shopping like Costco offers
- A card that is most appropriate for the small business owners
- Which card is best for those that are still commuting and need to make gas purchases.
A careful study of what the major credit cards have to offer will quickly reveal which of these categories they fit into.
More Than One
It is quite common for individuals to have not just one credit care but two or three or even more. To become a savvy credit card user it isn’t just a matter of using the one with the lowest balance for your next purchase.
Know what your credit cards are offering by way of rewards then use the one for your next purchase that is going to bring you the greatest rewards.
Types Of Rewards
When it comes to grocery buying you will want to use those credit cards that give you the greates cashback. There can be some significant differences in these. One of your cards may give you 2% while the other one is going to provide you with 4%.
Some of the cards are much better for online shopping. These are the ones with no spending categories and some will even give you as much as a 15% cashback.
Even when it comes to Costco shopping there are some cards that offer distinct advantages.
It all comes down to getting the most for your money. Which means when it comes to credit cards capitalizing on the extras.
Another area where you are going to want to get the most for your money is with your tax preparation. For no-hassle tax filing and reasonable costs be sure to contact me for your tax needs.
