Finding the best cash rewards credit card is a mix of research and intuition. That’s because no card is better than another. If you use it wisely, any of them can serve the purpose that you want. But that’s when you should be picky. Not everything will suit your needs. Therefore, you should understand the options you have and see what suits your needs best.
What To Consider
Opening a new credit card account with rewards is something we all want. It’s a great way to get rewards for buying something. It’s a wonderful way to get rewards for buying what you need. If you follow some simple tips, you can earn points for your hard earned money. You’re free to use the points earned in shopping, redeemed in cash or used as travel vouchers.
Select A Card Within Your Credit Range
No matter which card you apply for, ensure that it’s within your reach or within your credit score range. If your credit score is below 620, you’ll have a hard time getting approved for high-end cash rewards credit cards.
You have two ways to mitigate the problem. First, you can check the average score needed to get the card of your choice. That means you’ll have to improve your credit score to get that. If you’re in a hurry, you’ll have to select the card that’s approved against your individual credit score.
Go For A Card With An Annual Fee
If the charges for the card outweigh its benefits, then your cash rewards credit card is of no use to you. If you can do some research, you can get cards which are free of charges. Even though it may seem tempting, check whether it’s an introductory offer or if the card is free for as long as you use it.
Select A Card With A High Percentage Of Cash Back
Note that all cash rewards programs aren’t created equal. Some may come with a cashback of 1 percent while others can offer more. Read the terms and conditions closely before finalizing anything.
Opt for The Card With Cashback And Sign-up Bonus
Many cash rewards credit cards provide additional cash back if you spend a particular amount within the first three to six months of using the card. It’s a great way to maximize your cash benefits without hassle. Even though the bonus offer changes continuously, you can rest assured that you’ll get those specific benefits.
Get A Card With Unlimited Cashback
Even though cards with high cash rewards can be tempting, they tend to have capped amount of cash rewards for a year. That’s why, you should pick cash rewards credit cards which let you to earn as much as you’ve purchased.
These tips can help you get the best cash back rewards card available. Getting a card with rewards can be a great thing, but make sure that you pay the bills of on time.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.