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With a new year comes new resolutions and new ways to live everyday life. Perhaps your 2019 goals include being smarter with your finances and credit card strategy so that you can maximize points and get rewarded for your regular purchases. With a bit of extra care and consideration of your needs and spending habits, you can choose the best travel credit card that allows you to benefit greatly. These tips will help you choose your next credit card for 2019.
Know Your Credit Score and Credit Situation
Before getting any , it’s always a good idea to have a general idea of where your finances and credit stand. While you don’t need to know your exact score, having a general idea of it will help. Some cards require you to have better credit than others in order to qualify. If you don’t have the best credit history or score, it may be worthwhile to take some time to work on improving it first.
Consider Your Normal Spending
Take a look at your everyday spending habits to see what you’re spending your money on and what you’re usually charging to your credit card. Do you go to restaurants a lot? Do you spend a lot on gas or rental cars? Are most of your purchases travel related?
Some credit cards will reward more points or miles for certain spending categories. That means if you tend to spend a lot more money in one category, you’ll want a card that dishes out the most points. Take some time to comb through your last few credit card statements to see what categories are the most popular for your own spending.
Outline Any Big Expenses for the Year
While you may stick to your normal routine with everyday purchases, you may have a plan to buy some bigger expenses, too. Those items with a larger price tag should be thought out ahead of time. Are you planning to take a big trip? Do you need to buy a new laptop? In the market for a cell upgrade?
Planning out when you buy these items or when you apply for next credit card for 2019 can make it easier for you to hit your minimum spend for credit card sign up bonus points.
Compare Bonus Point Offers
Some cards offer more attractive bonus point offers. If you’re planning to get a credit card anyway, you might as well get a good amount of bonus points so that you can use those points for a better reward later on. Many cards keep their sign on bonus point offers relatively the same throughout the year. Others offer limited-time promotions where they increase the bonus points to get more people to sign up for their card.
Some cards with great sign on bonus point offers:
: 60,000 points after $5,000 spend during the first 3 months.
Chase Sapphire Preferred® Card: 50,000 points after $4,000 spend during the first 3 months.
Ink Business Preferred℠ Credit Card: 80,000 points after $5,000 spend during the first 3 months.
Make sure that you choose a credit card for 2019 that has a minimum spend that you can meet so that it’s easy for you to earn your sign on bonus points.
Understand Terms, Fees, APR When Deciding on a Credit Card for 2019
Before applying for a credit card for 2019, you want to have a full understanding of the terms and conditions of the card. Knowing what the APR is and if the card has an annual fee is also essential. This allows you to use the card smartly in the coming months. As always, it’s best to pay off your balance each month avoid fees and to make the points you’re earning more worthwhile.
If you’re in the market for a new credit card, now is a great time to outline your financial plans and goals for the new year. Decide how you will spend and what cards you will use for your purchases. You can get a great new credit card for 2019 that meets your individual needs and rewards you well for your spending.
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