Consumer Watch: Picking between travel and money back rewards

There are different types of credit cards that will work for your credit score. Picking the right one will increase your approval chances. People with a good credit score can take advantage of many rewards credit cards. Deciding which is right for you can be tough. This is the easiest way to choose what’s right for you.

Sites Credit Karma, WalletHub, and NerdWallet have made a name for themselves by giving consumers information about credit cards and which one could benefit you most. All three say that even if you love to travel, a cash back credit card might be your best option.

There tends to be more flexibility in how you can spend to get rewards. Travel reward cards do have major perks if you already travel a lot, including things like not having to pay extra money if you use the card outside the country. If you are already a frequent flyer, you will also gather points more quickly for later flights. NerdWallet says if you are not spending a minimum of $8,600 on travel in a five-year span, then consider a cash back rewards card instead.

Rewards are excellent perks, but just remember that it is actually not the most important part when choosing a credit card. Check things like interest rates and if your credit card has a yearly fee before picking what you want to apply to get.

There are credit cards available for people who are working on improving their credit score. Those interest rates tend to be much higher. It’s a better plan to pay down debt to increase your credit score before applying for a new credit card.