SUMMARY: Not all credit cards are the same. Study the details and pick the right card for your budget and household.

Credit cards have become an inescapable necessity of modern life. More than 193 million people worldwide are projected to open credit cards in 2023, adding to more than 1.25 billion total cards in circulation, according to WalletHub.

But it’s important to keep in mind that each card has its own individual benefits and perks, which is why you should have a firm understanding of what credit card is right for you.

Anthony Fletcher, American Airlines Federal Credit Union's Vice President of Payments and Digital Strategy, stresses that before you sign up for a card, you should carefully consider your personal budget, individual needs or financial situation.

"For example, I'm a benefits and rewards guy, so when deciding on the best credit card for me, it's all about my earning potential," he said. "I focus on the types of rewards available – like cash back, gift cards, travel and more – balancing that against the rates and fees, including balance-transfer and annual fees."

"That's why I love our Platinum Rewards credit card, because it has a significantly lower rate with great rewards and earning potential compared to other big brand credit cards."

Reviewing your goals, budget and credit history and weighing them against potential card bonuses, benefits and terms can help you make the right decision for your household. To that end, American Airlines Federal Credit Union offers a variety of card options designed to appeal to every type of user. See which one of these fits you best:

The Beginner: The Visa^® Platinum Starter Rewards option is great for first-time card users or families looking to provide kids with their first credit card. It operates similarly to the Platinum Rewards card (see below) but offers lower credit limits. You can also earn Connection Points^TM which can be traded for travel, retail gift cards or trending merchandise.

The Credit Builder: If you’re looking to build (or rebuild) your credit history, the Visa Platinum Secured might be ideal. By putting $250-$5,000 in a premium dividend-bearing savings account, your low-rate card can help you establish a financial track record with every purchase that you make. It also allows you to conveniently shop while starting your credit journey and boosting your credit score.

The Businessperson: The Visa Business Platinum card allows business owners to easily manage operating expenses. You can even issue multiple cards to employees under one convenient account, earning points for all purchases, which can be redeemed for travel, gift cards or merchandise.

The Bottom Line Watcher: Regularly carry a monthly balance? The Visa Platinum Low Rate card can help you keep more money in your pocket. In addition to no annual or balance-transfer fees, you’ll also enjoy travel and auto rental collision insurance, plus identity theft protection and emergency or travel assistance. Click here for terms. 

The Reward Seeker: The Visa Platinum Rewards card is designed for the user who wants to earn points redeemable for fun products simply through everyday spending. Those points can add up to travel, products and gift cards. Similar cards with other issuers can come with costs associated or annual fees, but with ours, you’ll already start saving with no annual fees. Click here for terms.

The Jetsetter: The new Visa Signature^® Cash Back card is the Credit Union’s most recent card option and actually puts money back in your pocket as you spend. Cardholders earn unlimited 2% cash back on all purchases (unlike others that have limited categories, like gas or groceries). Used strategically on routine purchases, you can use it to trim your daily costs and make your household budget go further. This card also comes with personalized travel and lifestyle experiences, so you can jetset in style. Click here for terms. 

 Ways to Shop with Connection Points

One of the best parts of our credit cards are the many perks and bonuses that you’ll earn while using them, including Connection Points, which can be exchanged for popular goods, merchandise, or retail and travel gift cards. Earnings can be redeemed in our new Connection Points mall, where you can trade them for many of your favorite everyday gifts, or airline, hotel, shopping, and grocery gift certificates. You can even use your Connection Points to get online shopping done on Amazon.com.

Visa and Visa Signature are registered trademarks of Visa International Service Association.

Connection Points powered by CURewards.^®