Are credit cards good or bad? It depends.
Credit cards can be your best friend if you know how to use them effectively. It’s important to know the 5 factors that affect your credit score so you won’t get into credit card trouble. Once you’ve mastered your credit score, now you can use credit cards to rack up extra rewards and benefits.
Some credit cards come with sign-on bonuses, and others allow you to get points for purchases. Generally, you can redeem your credit card rewards for cash or popular gift cards. Those rewards can be used to purchase your favorite fall flavors at Black-owned beverage shops or enjoy your favorite vegan dishes.
Here are 4 credit cards you can explore, as reviewed by Chicago Southsider’s editor-in-chief.
American Express Rose Gold Card
When did I apply for the card? April 2022
Special offer: Earn Membership Rewards Points when you spend $4,000 on purchases on your new Card in the first 6 months of membership. This offer is subject to change at any time. Review the website for more details.
Annual Fee: $250. I rarely apply for cards with annual fees but I wanted to add another American Express card to my collection.
Strategy: Since I had a big personal expense coming up, I applied for the card to earn free travel for my expense. I set aside funds in my savings account to cover this expense. I will pay off the credit card and collect my welcome bonus.
Use my referral link to apply.
You’ll typically need good or excellent credit to qualify for an American Express card. I applied for the American Express Rose Gold Card card in April. A few seconds after applying, I was approved! I applied on a Friday and received my card in the mail on the following Monday! I don’t think I’ve ever received a card that fast. I love the welcome bonus and perks. I reward myself with Uber Eats at least once a month by using my $10 dining credit. All you have to do is add your American Express Gold Card to your Uber App and you are good to go!
Chase Ink Business Cash
When did I apply for the card? June 2021
Special offer: Earn $750 Cash Back After You Spend $7,500 On Purchases In The First 3 Months From Account Opening. Offer is subject to change at any time.
Annual Fee: No annual fee.
What happened? I started a new business in June 2021. I opened a checking and savings account, and then applied for the credit card. I was offered the lowest credit limit ever. However, my credit limit doubled 8 months later.
Use my referral link to apply.
Capital One Savor One Rewards Card
When did I sign up for the card? December 2019
About this card: This card is available to individuals with excellent credit. Here’s my credit card review. I’ve been using this card the most in 2022. All you have to do is spend $500 within the first three months of account opening and get $200 back. Current offers are subject to change at any time.
Annual fee: $0
Use my referral link to apply.
Chase Sapphire Preferred
When did I apply for this card? Summer 2015
Offer: Earn bonus points with Chase Sapphire Preferred. Your points are worth 25% more when you redeem them for car rentals, airfare, hotels, and cruise lines through Ultimate Rewards. Current offers are subject to change at any time.
Annual Fee: $95
This was the main card I used in 2019 when I traveled around the world. I didn’t have to worry about foreign transaction fees and that was a huge plus.
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