Are you looking for a new rewards card to use with your purchases? Before signing up, we have seven questions to ask yourself when selecting your new rewards card.

WHAT KINDS OF REWARDS ARE YOU LOOKING FOR?

With so many different rewards available, it can be difficult to decide what card is best for you. Take the time to determine what rewards will best benefit you and what you will be able to use the most –whether that’s points, air miles, or cashback.

HOW DO YOU EARN REWARDS?

Some cards only offer rewards on specific types of purchases. When selecting a card, make sure that you’ll actually be earning rewards on your purchases. Better yet, find a card that will offer you rewards for everyday purchases!

HOW DO YOU REDEEM REWARDS?

Reward redemption is an important part of having a rewards card. Before deciding on a card, make sure you are aware of the process to redeem your rewards and when you have the option to redeem them.

ANNUAL FEES?

Does the card you’re interested in have an annual fee? Not all cards are created equal and some do have an annual fee. If a card you’re interested in has a fee, take the time to decide if the rewards and interest rate match the cost of the annual fee.

WHAT IS THE INTEREST RATE?

While your credit has a big impac ton your interest rate, some credit cards come with a much higher interest rate regardless of your credit. While you may plan to payoff your cards each month, it is important to consider if you can afford the interest rate if something comes up.

DO YOU HAVE GOOD CREDIT?

When was the last time you checked your credit score? As mentioned, your credit score can have a major impact on your interest rate, so it is good to know your score before moving forward. Keep in mind that having multiple credit cards may actually help build your credit, so long as you stay up on payments and a reasonable balance.

DO YOU PAY OFF YOUR CREDIT CARDS EACH MONTH?

Are you planning to pay off your card each month or just make the minimum payment? While paying your balance off each month can positively impact your credit score, minimum payments and a high interest rate can hurt your budget. Wasatch Peaks has another way to help you do more of what you want to do with our new Summit Rewards! With two options for rewards, you can make the most of your purchases. Get started and contact our specialists at 801-627-8700 or visit your local Wasatch Peaks branch.