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    How to Choose the Right Credit Card

    By Wasatch Peaks on November 16, 2021

    Topics: Credit Cards

    You can use your credit card to perform many useful functions beyond paying for items in-store and online. Credit cards can give you a financial safety net, help you shop safer, earn rewards, and even get cash back on purchases.

    So if you're wondering how to choose a credit card, thinking about what you want to use it for is a good place to start. That way, you'll be sure to get the right credit card to meet your needs and lifestyle. Read on to find out which credit card could be best for you. 


    There are many reasons why people get credit cards, so make sure you choose the right card for your purposes.

    Here are some common reasons why people get credit cards:

    • Extra Purchasing Power: You can use your credit card as a line of revolving credit, making purchases and paying them off in an easy cycle. 
    • Financial Safety Net: You can put your card away in a drawer and only pull it out when you need it. 
    • Online Shopping: Credit cards generally offer more financial protection when shopping online, so you may want to get a card for that purpose only.
    • Building Credit: If you're just starting on your financial journey, making timely credit card payments is a handy way to get yourself on the map. 
    • Rewards and Cash Back: Credit cards can offer perks such as rewards to use on products and services or cash back. 


    Different credit cards are designed to match different kinds of lifestyles. Whether you're a budget-conscious person in charge of a household, or a high-flying executive with an expense account, it's worth finding the card that meets your needs best.

    Here's a selection of credit card features and recommended credit cards: 


    The annual percentage rate (APR) includes both the interest rate and any other fees rolled into one figure. The higher your credit score, the lower your rate. 

    If you want a budget-friendly credit card for everyday use, try a low-interest No Cash Back Credit Card


    Credit card fees can quickly add up so you want to find a credit card that has minimal extra charges. Credit unions may provide cards with fewer fees than other financial institutions. 

    Try any of these cards to avoid an annual fee: Summit Rewards Credit Card, 1.5% Cash Back, or 1% Cash Back credit cards. 

    Cash Advance Options

    A cash advance is when you withdraw money from your credit card account at an ATM or over the counter at your local branch. 

    Some credit cards charge you a fee to do this, plus interest on the money borrowed, so be sure to read the fine print before you take out an advance.

    Cash Back

    Cash back means your financial institution gives you a certain percentage of money back on your purchases. For example, 1.5% Cash Back or 1% Cash Back. The cash may be deposited into your savings account quarterly. 

    There may be minimum amounts you need to spend, or there may be restrictions on which purchases qualify to get cash back.


    A rewards program is another great way to earn back on your spending. For example, you might earn 1 point for every dollar you spend with your credit card. You can then redeem those points for gift cards, charitable donations, and travel, or to buy merchandise. 

    With a Summit Rewards Credit Card, you can earn points on every purchase you make, whether for grocery shopping, paying your bills, or eating out with friends and family.

    Fraud Protection

    Some people prefer to use a credit card rather than a debit card for all their everyday spending since a credit card offers better protection from fraudsters, scammers, and thieves. 

    If a scammer accesses your debit card, they could withdraw all your funds from your account and any linked accounts. The money would be gone for good. 

    But if a scammer makes fraudulent purchases with your credit card, your financial institution should be able to reimburse you after you report the suspicious activity. 


    If you're still wondering how to choose a credit card, be sure you start by choosing the right financial institution. 

    Your local credit union will likely offer you the following extra perks with your credit card: 


    A credit card is an important tool in your financial belt, whether you're thinking of getting one for the first time or would like to add another one to your wallet.

    It's important to keep in mind how and why you plan to use your credit card because that will impact which card you should choose. 

    You may also be wondering how many credit cards are ideal for you and your family. Click below to find out more!  

    How Many Credit Cards Should You Have?

    Wasatch Peaks

    Written by Wasatch Peaks