More than 1,000 credit cards offer rewards, including cash back, airline miles or other special perks, so how can you choose the best one or two for you?Consumer Reports did the homework and crunched the numbers on some of the most popular credit cards that come with perks.Credit card user Alex Joyce said he travels a lot for work, so he wants a credit card that works for him."So, having a credit card that gives me airline miles is great," he said. "With my American Express card, it gives me access to a special airline lounge, which is pretty sweet.">> Download the free WMUR app to get updates on the go: Apple | Google Play <<What perks might work for you? Maybe you're feeding a family, and grocery rewards would help. With the Blue Cash Preferred card from American Express, you'll get 6% cash back annually on up to $6,000 in groceries.If most of your spending is gas and road trip charges, consider the Exxon Mobil Smart Card+. It'll save you 12 cents per gallon on premium fuel and 10 cents on other grades. There's also the Wells Fargo Autograph Card. It charges no annual fee and offers an unlimited three points earned on each dollar spent on gas and at electric vehicle charging stations, plus other related travel charges. "If you're a warehouse club member, those can be great options, too," said Margot Gillman, of Consumer Reports.The Costco Anywhere Visa gives you 4% cash back on gas and EV charging. Plus, you get 3% back on restaurants, car rentals, airfare, hotels, cruise lines and trips booked through Costco Travel. Sam's Club Mastercard gives 5% cash back on gas purchases up to $6,000 annually, plus 3% back on dining and takeout.Fans of Simon-owned malls, mills and premium outlets might consider the Simon American Express card, which offers 5% cash back on purchases at its more than 200 locations.Consumer Reports said it's important to pay off your monthly balance on credit cards. Don't use the cards as a way to increase your spending, but rather use the cards on regular spending to get the rewards."It's never wise to carry a balance and have to pay high interest rates," Gillman said.Smart, responsible spending can be the most rewarding perk of all."The money is being spent on travel, so I might as well take advantage of the rewards," Joyce said.Credit cards can also have more benefits than just the rewards. Your current cards could have perks such as cellphone insurance, purchase protection and car rental coverage.
MANCHESTER, N.H. —
More than 1,000 credit cards offer rewards, including cash back, airline miles or other special perks, so how can you choose the best one or two for you?
Consumer Reports did the homework and crunched the numbers on some of the most popular credit cards that come with perks.
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Credit card user Alex Joyce said he travels a lot for work, so he wants a credit card that works for him.
"So, having a credit card that gives me airline miles is great," he said. "With my American Express card, it gives me access to a special airline lounge, which is pretty sweet."
>> Download the free WMUR app to get updates on the go: Apple | Google Play <<
What perks might work for you? Maybe you're feeding a family, and grocery rewards would help. With the Blue Cash Preferred card from American Express, you'll get 6% cash back annually on up to $6,000 in groceries.
If most of your spending is gas and road trip charges, consider the Exxon Mobil Smart Card+. It'll save you 12 cents per gallon on premium fuel and 10 cents on other grades.
There's also the Wells Fargo Autograph Card. It charges no annual fee and offers an unlimited three points earned on each dollar spent on gas and at electric vehicle charging stations, plus other related travel charges.
"If you're a warehouse club member, those can be great options, too," said Margot Gillman, of Consumer Reports.
The Costco Anywhere Visa gives you 4% cash back on gas and EV charging. Plus, you get 3% back on restaurants, car rentals, airfare, hotels, cruise lines and trips booked through Costco Travel.
Sam's Club Mastercard gives 5% cash back on gas purchases up to $6,000 annually, plus 3% back on dining and takeout.
Fans of Simon-owned malls, mills and premium outlets might consider the Simon American Express card, which offers 5% cash back on purchases at its more than 200 locations.
Consumer Reports said it's important to pay off your monthly balance on credit cards. Don't use the cards as a way to increase your spending, but rather use the cards on regular spending to get the rewards.
"It's never wise to carry a balance and have to pay high interest rates," Gillman said.
Smart, responsible spending can be the most rewarding perk of all.
"The money is being spent on travel, so I might as well take advantage of the rewards," Joyce said.
Credit cards can also have more benefits than just the rewards. Your current cards could have perks such as cellphone insurance, purchase protection and car rental coverage.
