4 Tips to Maximize Your Credit Card Benefits

DEWITT, Mich. - March 23, 2015 - PRLog -- If you're trying to make smart financial decisions, you might initially steer away from credit cards. However, many credit cards offer options that can help enhance your specific financial picture. Here are four ways to maximize your card benefits.

1.  Read the fine print on promotions.
Many companies provide special incentives for opening a new card. These offers might require you to spend a certain dollar amount before you can earn the reward. Some cards also offer bonus points if you spend a certain amount during a billing cycle or in certain categories such as gas or groceries. It's also a good idea to understand any fees associated with the card, such as an annual fee and those you might incur for balance transfers or using convenience checks. Before applying for a card, be sure you're familiar with any requirements and can meet them without financial burden.

2.  Consider how the interest rate impacts you.
If you tend to carry a balance from month to month, make sure the interest rate on your card is as low as possible. However, if you fully pay your balance each month, you might consider a card that can offer the best rewards over one with a certain interest rate.

3.  Be familiar with your rewards program.
Can you get more worth out of your points by choosing one type of rewards option over another? For instance, some credit cards offer a higher dollar amount for travel purchases for the same number of points that it would take to receive a lower dollar amount as a statement credit.
You'll also want to know if points expire or if they will roll over year after year. Make sure you don't accidentally waste any valuable points because you're waiting to accumulate enough for a dream vacation.

4.  Know how your card can protect you.
Many cards carry travel insurance, fraud protection and price protection. Travelers who rent a car often can rely on a card's travel insurance benefit rather than having to pay for costly coverage offered by rental car companies. Fraud protection usually protects cardholders from having to pay for unauthorized purchases made with their cards.

If you find an item you recently purchased at a price that is less than what you paid, you can be reimbursed for the difference if you have price protection. Of course, there are usually limitations on the time period, and you have to prove the lower cost.

If you have an Edward Jones account, be sure to consider Edward Jones as you evaluate your credit card options. Our credit card offers many of the features and benefits listed above, with no annual fee. Learn more or log in to Online Account Access to apply.