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Choosing the Best Credit Card Among Low Rates, Rewards, Cash Back

There are plenty of enticing offers for credit cards out there, but no card is one-size-fits-all. Some credit card users may benefit most from a low interest rate so they’re saving more over time. However, frequent travelers might make better use of a rewards card with travel benefits, while shoppers may prefer the convenience of cash back.

With all these choices, it may feel overwhelming to decide which card is best for you. If you’re looking for the right card to match your spending habits and take your credit card purchases to the next level, here’s all you need to know:

    If you want to get money back on your purchases, consider a cash back card.

    Cash back credit cards are just as straightforward as they sound: you’ll get a cash rebate for every qualifying purchase you make. It’s usually a percentage of your purchases. You can apply it toward your balance or cash it out to spend however you want. If you use your credit card for shopping or bills each month, this can be a convenient way to boost your bottom line.

If you carry a balance month to month, get a low-rate card.

A high Annual Percentage Rate (APR) may not be a big deal to someone who pays the credit card balance off every month. But if you carry a balance for a longer period of time, the interest can really add up. Stick with a credit card that offers a low rate and you’ll save big-time in the long run, because higher rates mean you’re paying more over time.

If you want cool stuff, gift cards or travel reservations, choose a rewards card.

With a rewards card, you’ll earn points for every purchase. Convert those rewards points into merchandise, gift cards even travel reservations and experiences for your next adventure. You can also convert your rewards to cash or apply credit directly to your balance, which will help you pay off your card even faster.

No matter the card you choose, make sure you work with a trusted lender. The right financial partner will work with you to assess your needs, understand your financial goals and then help you choose the perfect credit card for you. FBN

By Alex McElyea

Alex McElyea is a senior product manager at OneAZ Credit Union. OneAZ offers a full suite of financial products and services, including credit cards for business and consumers. The new OneAZ NAU Affinity Credit Card supports the NAU Alumni Foundation by giving back 1 percent of all purchases to the Foundation. For more information, visit OneAZcu.com/NAU.


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