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Comparing Credit Card Programs

Authored By: Jeff Glaser, Marketing Director on 12/16/2021

Which is better: Credit card rewards, or a low rate? Annual credit card fees, or no annual fee? Choosing the best credit card might be trickier than you think. After all, why would anyone choose to use a card with annual credit card fees? Here’s what you need to know.

It might be your only option

Typically, people in Royal Oak, MI who qualify for cards that don’t have annual credit card fees have good credit already. If your credit score is less than stellar or you don’t have a bank account or established credit, you may find it hard to qualify for a card with no annual credit card fees.

If this is the case, you might be forced to choose the card with an annual fee over one that seems to offer better credit card rewards. Keep in mind that you can watch for future offers and switch to a better card in the future if your credit improves.

The rewards might outweigh the fee

Sometimes, annual credit card fees might be worth it if you reap enough credit card rewards. For example, if you get cash back for your purchases that totals more than the fee, this could be a better card option for you than one that has no fee but offers less in terms of credit card rewards.

Look carefully at the terms as you decide which card would be your best option. Consider your spending habits and budget to determine if the rewards will be worth the fees for any cards that aren’t free.

You might enjoy travel perks

Are you planning a big trip? Do you travel frequently for work? Do you take a vacation every year that involves flight and hotel expenses? Common credit card rewards include travel perks. If the card has an annual fee but will pay for your vacation, it might be worth the investment.

Consider how much you can save by racking up travel points and rewards and weigh this against any fees you will pay. For assistance, consult with a local financial professional who can help you determine the best option based on your travel habits.

What about other rewards?

Some credit cards offer unique rewards, theft and fraud protection and other perks. How can you find the best credit card rewards? It’s crucial to choose the card that includes rewards that are important and useful to you. The best way to review your options and choose the best card for your lifestyle and needs is to consult with a financial expert. A brief conversation that covers your credit, spending habits and future goals can reveal what card the professional should recommend for you.

Get the best rate

Not sure which credit card option to pursue? Let our experts help. At OUR Credit Union, we’ve been helping members move toward financial success since 1959. For generations, we’ve been Royal Oak, MI’s go-to source for sound financial advice. Contact our team today to learn more about credit card options and which would be the best for your needs. Reach our professionals at 586-751-245


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