Depends on your spending habits..how much do you spend/year? Travel?
Which benefits you more:- hotel points/cash back/airline travel miles?
Pretty much this.
1. Find out where you spend the bulk of your money, gas, groceries, department stores, else...
2. Decide what kind of rewards you want.. as mention above.
3. Determine if you want to have multiple cards, just one, etc.
-- eta: The most effective way to optimize your cash back, rewards, etc. would be a combination of 2-3 cards that cover the majority of your spending habits at cash back rates of 3-5%. However, if you spend large and rather broadly and only want one card, finding a 2% cash back on all purchases may be something to consider.
In addition, you need to determine if the cash back you get back would offset the annual fee is applicable. Otherwise, what's the point.
I would also consider interest rate and other perks as well.
This post was edited on 10/31 at 11:23 am