Good financial management, as far as a credit card is concerned, means ensuring that the card works for you—not the other way around. Whether you're looking to save money, earn rewards, or enjoy exclusive perks, the right credit card product should help you maximize your spending.
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If it's been a while since you last reviewed your credit card’s benefits, now’s a great time to check if it still aligns with your financial goals and lifestyle. If it doesn’t, here are some things you should consider when choosing your next credit card:
Tips For Choosing Your Next Credit Card
1) Rewards That Match Your Lifestyle
Many credit card programs are known specifically for the special discounts, freebies, and exclusive perks they provide. Depending on which card you sign up for, you may also be eligible to receive welcome gifts like free flights, eGift cards, waived annual fees, or fuel rebates—all of which can add significant value to your subscription.
However, this doesn’t mean you should be satisfied with just these perks. Your spending habits evolve over time, and your credit card should keep up.
For example, do you shop at Landers often? If so, check out the Maya card promo on the Landers Cashback Everywhere Credit Card. With every swipe of this card, you’ll earn cashback points on eligible transactions. Once you accumulate 500 points, you’ll be able to apply a PHP 500 discount on your groceries.
Furthermore, some credit cards come with seasonal promotions, dining discounts, buy-one-get-one deals, and event access. You might even score free movie tickets, hotel discounts, or zero-interest installment plans for big purchases.
If you’re planning on upgrading your phone or buying a new car, keep an eye out for promos that can add even more value to your spending.
2) Travel-Related Perks and Protections
If you love to travel, an air miles credit card can be your ticket to big discounts on flights. However, not all air miles are equal. Some programs require more points for a flight, while others impose expiration dates. Read the fine print to ensure that you know the extent of your benefits. Bonus tip: look for cards that also offer free travel insurance when you use them to book flights.
Here’s an additional piece of information that not many credit card users know: if your flight gets delayed or canceled due to bad weather or unforeseen circumstances, some credit cards offer trip cancellation and interruption insurance. They might even reimburse non-refundable expenses, affording you full peace of mind during travel disruptions.
In addition, certain credit cards promise luggage protection. If your bags are lost, stolen, or delayed during transit, you may be eligible for reimbursement for essential purchases or even compensation for the total value of your lost luggage.
These small travel perks can all make a big difference, especially when you’re traveling abroad.
3) Flexible Redemptions
Imagine earning enough points for a dream vacation, only to find out that you can only redeem them for gift cards to stores you never visit. This scenario highlights the importance of flexible redemption options for any card you sign up for.
A card that locks you into a limited selection of rewards can feel more like a restriction than a benefit. Knowing that, look for cards that offer a diverse range of redemption choices, which will allow you to tailor your rewards to your individual needs.
For example, some cards let you choose whether you want to redeem points for travel-related expenses (like flights, hotels, car rentals), merchandise, gift cards to your favorite stores, or even cashback in the form of statement credits or direct deposits.
Beyond these common options, consider whether the card offers unique redemption options like the ability to pay down balances on other cards, invest in brokerage accounts, or donate to charities. The more options you have, the more likely you are to find a redemption mechanism that truly maximizes the value of your rewards.
In other words, don't settle for a one-size-fits-all approach. Choose a card that allows you to redeem your rewards in a way that works best for you.
4) Protection for Online Shopping
Online shopping can be a great convenience, but it also comes with certain risks. Fortunately, many credit cards offer valuable purchase protections that will serve you well when shopping.
For example, extended warranties can double the manufacturer's warranty on eligible items purchased online, thus saving you money on future repairs. Meanwhile, return guarantees can provide a refund even if the retailer's return policy has expired, thus protecting you from buyer's remorse. There are also price protection features that will refund the difference if you find the same item for a lower price online within a certain timeframe.
These protections can be invaluable to you as a shopper, especially for big-ticket purchases. What if you’re searching for a new laptop online and find it cheaper a week later? Price protection can get you that difference back. Or, if your new purchase breaks down shortly after the manufacturer's warranty expires, your extended warranty protection can come to the rescue.
Read the fine print of your credit card agreement to understand the specific protections offered, and any eligibility requirements you have to fulfill.
Choose the Right Credit Card for You
With so many options, you may even be experiencing choice fatigue in your search for the ideal credit card program. The key is to match your card to your spending habits and financial goals. Before making a decision, research its interest rates and annual fees as well as the perks, promos, and protections that come with it.
Consider how often you’ll use your credit card and which benefits will provide the most value. That is what will extend your credit card’s purpose as a mere payment tool and a means to save, earn, and enjoy more of what you love in life.
