Points, airline miles or bonuses: what is the benefit?

In Mexico, 42% of people with a departmental or self-service credit card are between 18 and 40 years old, while those with a bank card in the same age bracket represent only 20% of the population, according to the data from the National Financial Inclusion Report of 2017. As we know, there are different types of credit cards, but it is true that they help you finance yourself, each was created to meet specific needs.

At a family reunion, one of my uncles said that he was going to change his credit card points for plane tickets to take his vacation, and my cousin said that he preferred to accumulate them to buy plane tickets. articles on your bank's rewards page. I've kept thinking if every person with a card takes the time to consider their reward plans and they use their points in a valuable way. I meditated if my loved ones would have the right credit card and would know for sure how to use the benefits and perks.

Most people think that the best credit card is the one that gives you the highest credit limit or the first that they offer and allow; However, these are the typical thoughts that lead you to acquire the worst plastic, with minimal benefits depending on your lifestyle. Do not you understand how to recognize the best reward that a credit card can offer? Before you begin, answer the following questions:

• Do you travel continuously? Or at least 2 times a year?

• Do you use the card for very common purchases such as payment for services and even to go to the mall?

• Are promotions and discounts the most important when it comes to shopping? Make a purchase?

If you have already identified what are the most important activities of your day, it's time to decide which is the best rewards program you should look for. Among the most common are:

• Points. If you are one of the people who want to gain a specific benefit for the expenses you are doing, the ideal is to look for a credit card that offers you accumulate points for all payments made with plastic.

  • How does it work? The bank establishes the amount of money equivalent to one point, these are accumulated in your account, then you can use them to pay in some institutions or redeem them for items from the rewards page of the bank, other experiences and even effective, in some banking entities.

  • Ideal: For those who use the credit card as the primary method of payment

  • Tip: Always keep an eye on the validity of your points, in order to take advantage of your credit card. ;them. In general, they have a validity of 2 years or more, according to each bank.

• Air miles. If you are a traveler by nature and are still planning what will be your next destination, it's best to look for a piece of plastic with which you can earn miles, access exclusive promotions and discounts on vacation packages and travel experiences. Check the plastics that have agreements with the airlines, because they offer you better rewards when traveling.

  • How does it work ?: The bank establishes the amount of money equivalent to one mile, you are accumulating in your account and you can use them to pay for airline tickets.

  • Ideal: For those who travel frequently and / or at least twice a year to international destinations, whether for work or pleasure. ] Tip: Choose the credit card that has an agreement with the airline you use the most. Constantly review the validity and restrictions of miles.

• Bonuses, promotions and discounts. If your goal is to take advantage of the offers whenever the opportunity arises, it is best to look for a card that offers presales to shows, sporting and cultural events, discounts in the stores of your choice and bonuses or refunds of money for your purchases. Currently, there are plastics that have agreements with department stores, self-service and specialized.

  • How it works: The bank enters into agreements with different companies, from all branches, to offer discounts to cardholders and exclusive promotions. With a code or coupon you can apply the discount or the corresponding promotion on your purchase.

  • Ideal: For those looking to make a living

  • Hint: For all the promotions that offer you your card, sign up for the bank newsletter, check also all the pages of your statement of account because it is from here that come the promotions of the month according to the plastic that you have.

* This content represents the opinion of the author and not necessarily that of HuffPost México.