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When it comes to spending money, there are different ways to do it. Some people prefer to use cash, while others opt for credit cards. However, there are a few options that combine the benefits of both: travel cards and cashback cards.
What are Travel Cards?
Travel cards are credit cards designed for travellers. They offer perks such as rewards points, airline miles, hotel discounts, and lounge access. The idea is that you can use these benefits to save on travel expenses and make your trips more comfortable.
Travel cards are usually a good option for frequent travellers or people who are planning a big trip. They often come with annual fees and high interest rates, but if you use them wisely, you can earn enough rewards to offset these costs.
What are Cashback Cards?
Cashback cards are credit cards that give you a percentage of your spending back in cash. For example, if you spend $100 on groceries with a card that offers 2% cashback, you’ll receive $2 back.
Cashback cards are a good option if you want to save money on everyday purchases. They often come with lower interest rates and no annual fees. However, the rewards are usually smaller than travel cards, and you won’t get any additional travel perks.
Which One is Better?
The answer to this question depends on your personal preferences and spending habits.
If you’re a frequent traveller or planning a big trip, a travel card might be a better option for you. The rewards can help you save on travel expenses, and you’ll get additional perks such as lounge access and hotel discounts.
However, if you want to save money on everyday purchases, a cashback card might be a better option. The rewards might be smaller, but you’ll be able to use them on anything you want.
Ultimately, the best choice will depend on your individual needs and financial situation. It’s important to consider things like annual fees, interest rates, rewards programs, and additional perks before choosing a card.
FAQ
| Q: Can I use a travel card for everyday purchases? | A: Yes, you can use a travel card for anything. However, the rewards are usually geared towards travel expenses. |
| Q: Are cashback cards worth it? | A: It depends on your spending habits. If you make a lot of purchases with your credit card, a cashback card can help you save money. |
| Q: Do all travel cards have annual fees? | A: No, but many do. It’s important to consider the annual fee and rewards program before choosing a card. |