If you’re like most people around, your wallet must be bursting with a slew of credit cards. You may use them to rack up points or miles, or you might just have one card that you use for everything—and then pay it off in full every month. But no matter what kind of card user you are, there’s one thing you can all agree on: the best credit cards for daily spending offer both strong rewards and low fees. Now, you must be wondering how to apply for a credit card. SoFi professionals say, “Some tips can help you get approved.” In this guide, you’ll look at key factors to consider when choosing a new card and share five great options for people who regularly spend.
Sign up for cards with great sign-up bonuses
Sign-up bonuses are a great way to get a free flight, hotel stay or other rewards for signing up for a credit card. If you’re looking for a new credit card, this is an easy way to get something of value in addition to the points and miles you earn with your new card.
Pay your balance in full each month to avoid paying interest
The best way to avoid paying interest on a credit card is to pay your balance in full each month. If you can’t do that, at least pay more than the minimum payment. However, if you only pay the minimum amount due, your interest balance will grow over time and cost more than if you paid off the remainder of what you owe each month.
Consider perks that make your day-to-day life easier
You should also consider the perks that make your day-to-day life easier. For example, many credit cards offer travel credit and other rewards programs that can help you save money on things like hotels, flights or renting cars. For example, if you’re looking to save some money while traveling, look for a card with good travel insurance coverage or free airport lounge access so you can relax before jumping on your flight without paying for food or drink.
Look for cards with no annual fees
The first thing to look for in a credit card is whether it has an annual fee. If you carry a balance, the best choice is to get one with no annual fee.
You might find that cards with annual fees have lower interest rates, higher rewards or other benefits that make them worth paying for.
You may want to pay an annual fee if the rewards are high enough to offset the cost of carrying the debt all year long and you can afford to pay off your balance each month without incurring interest charges.
Avoid cards with high-interest rates and fees
If you want to avoid borrowing money from your credit card company, then don’t carry a balance on your card. The easiest way to do this is by paying off the balance in full each month. If you can’t afford to pay it off, or if you don’t know whether or not you can afford it, then think twice about applying for a credit card at all.
If you’re looking to make everyday spending more efficient, credit cards are an excellent way to do so. But with so many options on the market, it can be difficult to know which one is right for you. Hopefully, this guide has helped you narrow down your search and find a card that fits your lifestyle and budget!