There’s a misconception that the only people who benefit from credit card rewards are those who frequently jet off to tropical destinations or who can rationalize a card with an annual fee. While it’s true that some credit cards have high annual fees – which are often offset by perks both travel-related and not – the best credit cards have no annual fee. Don’t let a misconception lead you to missing out on the benefits of a credit card rewards. Use this guide to familiarize yourself with the benefits, then go online to find your perfect match.
3 ways credit card rewards can benefit everyone
1. You can earn rewards on everyday purchases
Credit card rewards have evolved significantly over the years. They're no longer limited to just airline miles and luxury hotel stays. Many credit cards offer rewards on everyday expenses, such as groceries, dining, gas, and even utility bills. This means even if you're not a frequent traveler, you can still earn valuable rewards points or cash back on purchases you were going to make anyway.
The best credit cards also come with additional benefits, such as purchase protection and digital wallet compatibility. These perks can provide convenience and peace of mind, regardless of whether you're a frequent traveler.
2. You can build positive credit history
Using a credit card responsibly is an excellent way to build and maintain a solid credit history. Responsible credit usage involves paying your bills on time and keeping your credit utilization low – that is, not using too much of your available credit. As you establish a positive credit history, you may become eligible for better interest rates on loans, which can save you money in the long run.
While you could always get a more basic credit card without a rewards structure, why not earn points or cash back while building your credit history? Learn the difference between cash back and points in this brief guide.
3. You can redeem points for more than just travel
While some credit cards do offer travel-related rewards, there's no obligation to chase after these perks if they don't align with your interests. Many rewards cards now offer a variety of redemption options beyond travel, including statement credits, gift cards, and merchandise. This flexibility ensures your rewards can be used in ways that make sense for your lifestyle.
If you’re ready to embrace the benefits of a credit card with no annual fee, turn to General Electric Credit Union’s (GECU) suite of cards. Our industry-leading rates will keep borrowing more affordable long after the introductory offer expires. Plus, there are opportunities to earn unlimited cash back with our Gold1 card or rack up points with our Visa Signature®2 or Platinum3 cards. Apply online or visit us in branch to review your options with a GECU team member.
