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Card Types
One of the major mistakes people in using credit cards is to not use a credit that has rewards. There are hundreds if not thousands of credit cards that give rewards. These rewards might be generic like get 1% back. Which is perfectly fine and you should use that if nothing else but there are lots of cards that give rewards tailored to your interests. However it should be noted that if you rarely use a credit card these reward cards might not be in your best interest because they often have a small yearly fee. Here a few of my favorites:
1. Delta Visa
This card is fantastic for those who travel. Delta is an american airline now partnered with NWA. For each dollar you spend you get 1 flyer mile. So if you spend $2000 on a new tv, you get 2000 miles too. That is usually 10% on your way to a free plane ticket! Also most will give you a bonus of up to 20,000 miles just for signing up!! Also a few cards will also give you priority seating, discounts, deals and use of their airport lounges. If you travel a lot this can be a great way to rack up miles for your trips. I've seen yearly fees of $25-$100 a year.
2. Paypal Visa
Paypal is a simple credit card that gives you 1% back, but the neat thing is that it dumps that 1% back into your paypal account for you to use rather than wait around for a check like most credit cards. Paypal also gives you deals and free shipping on their site with this card. If you have a paypal account and do alot of online shopping this could be the card for you. Also this card has no fee! This is a good card to get for normal activities.
3. Marriot Visa
This can be used to great effect with the Delta visa. Like it, you rack up points for each dollar spent and you can turn in those points for free rooms, upgrades or discounts at marriot hotels! Works pretty much the same way. So if you use those two cards enough you can pretty much plan on going on a free vacation once a year! How great is that!
Credit cards these days are desperate for new users with people pulling back in the economy. These companies are starting to bump up their reward programs and that is good news for you. Just don't get too carried away. Remember it's not recommended to have more than 2 credit cards at one time. Avoid applying and canceling credit cards. It all affects your credit score. Research for a bit, and then apply and use that card for atleast a few years.
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