Using credit cards for daily expenses can be ideal. Not only is it a convenient payment method, but it is also a tool to establish your credit and take advantage of their rewards.
Having a good credit history is one of the factors that helps us the most in banking institution evaluations when we make important investments, such as mortgages, when we buy or lease a car, or apply for a personal loan.
In addition, based on your credit, it is determined how high or low an interest rate can be on a lease and/or an annual percentage rate (APR) on financing, including credit cards.
If you do not yet have a credit history, a credit card can help you establish it if you use it responsibly and make all payments on time.
There are cards for all tastes and financial habits. It will all depend on your lifestyle and preferences. Here are 3 options that fit 3 different styles.
There are cards that give cash as a reward for your use. For example, with the Visa Cash Rewards1 you earn 1.5% cash back for every dollar you spend on eligible purchases.
#PlateaReco: This would be an ideal card for a foodie. For recurring expenses, you can use the cash back that you receive to visit your favorite restaurant.
There are cards that offer rewards through points you earn for your purchases. You can redeem points for cash, digital gift cards, travel on multiple airlines, hotel stays or cruises, among other options.
For example, we offer two cards that earn PREMIA1 points, with which you can earn between 1.5 or 2 points for every dollar in purchases, depending on the card you choose.
#PlateaReco: This card would be ideal for a Planner, the person who knows the rewards they would like to get, short and long term.
If you collect stamps in your passport, consider a card with travel benefits1. Depending on the rewards program associated with the card, you can earn miles or points to redeem for tickets, vacation packages, car rental and more.
In addition to points or miles, some of these types of cards usually include additional benefits such as: preferred boarding, no foreign transaction fees, or free first checked bag. It is always recommended to check the terms and conditions of each card1, as the benefits may vary.
#PlateaReco: Cards with travel benefits are ideal for an Adventurer who loves to live new experiences and meet different people and cultures.
If you are undecided and don’t know which one to apply for, take a look at the welcome bonus introductory offers and/or additional benefits. That can be the tie-breaker for the card that is right for you. Also, check out the annual fee. Some cards have an annual fee in exchange for greater benefits than cards that do not carry such a fee. You balance the benefits to obtain versus the fee you would be willing to pay. On the other hand, many cards have no annual fee and give you rewards. Win, win!
Compare them all and pick the one with the best benefits for you (points, cash back or travel).
The suggestions and recommendations related to credit cards are offered only as financial guidance or advice. Remember that credit products are subject to credit approval. Certain restrictions and conditions apply.
Cards issued by Banco Popular de Puerto Rico. Subject to credit approval. For terms and conditions of the Visa Cash Rewards card click here, for the Visa PREMIA® Rewards click here, for the JetBlue Mastercard click here and for the AAdvantage® Signature Plus click here. For more information visit popular.com/cards.
