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Picking the best credit card offer

SALT LAKE CITY – With only five shopping days left until Christmas, credit card companies are trying to lure more customers by offering deals from airlines, retail outlets and hotels.  So, if you’re looking to open a new line of credit, how do you pick the best one.

What’s in your wallet?  There could be a lot more in there than you realize.  We’ve heard about credit card perks like cash back and airline miles, but, there could be a lot more perks on the credit cards you already have, and you might not know it.

“Best thing you can do would be to call them up and ask what your benefits are.  I know there’s a lot of fine print when you get a credit card, so, not everybody reads it,” says Ellen Billie with AAA Fair Credit Foundation.

Some of these perks might include free rental car insurance, free extended warranties on certain products, and extra fraud protection services.  She says some of the best perks might not involve cash rewards.

Billie adds, “Major credit cards, and some non-major credit cards, will have some really great, easy to use apps, that also let you monitor your credit report and score.”

However, she recommends people really study the incentives being offered before they pick a card.  There are ways people can determine which reward they should go for.

“Take a look at your bank statements and add it up somewhere you can see where your money is going, and then you can focus in on what’s going to give you the most rewards for your purchases,” Billie says.

Plus, she warns everyone they need to be able to pay off their balance every month.  In not, “In that case, the interest rate is of high importance.  You don’t want to choose based on rewards when you’re just going to end up losing that in interest because you’re carrying a balance,” she says.