One of the most often asked questions I get is what credit card is the best? I believe that the differences between one credit card and the next, lies in the perks and add-ons and whether or not you take advantage of them. Instead of delving into credit card offers, I would rather discuss the perks and let you decide which one best suits your needs.

1) Car Insurance: Car rental companies are not shy when charging for insurance. They demand you have proper coverage and it they will charge you $10.00-$20.00 per day. Over the course of a year, this can save you thousands.

2) Cancellation and Interruption insurance: While this is a nice add-on you must be careful as to the amount of the interruption aspect. Some cards only offer a maximum of $2000.00 which would mean that the insurance provider will only pay up to a fee of $2000.00 if you have to come home earlier or later than your expected date (for emergency reasons only). Do you think you can get a one way ticket from the Orient back to United States for tomorrow for under $2000.00? I can tell you I don't think so. You must verify the amounts they cover.

3) Medical Insurance: While most credit cards do not offer medical insurance, with those that do please verify age and health restrictions

4) Credit card points for travel: You must verify the rate of return of your expenses (i.e. some cards offer 5 cents per dollar spent, while other offer dollar for dollar or even better) and what the buying power is for your points (i.e. how many points equals one dollar of value) Some credit card companies state that you can always use their points to purchase a ticket. What they don't tell you is how many points will be needed, so some days it could cost 20,000 points while the next day it can be 120,000 points for the same itinerary.

5) Credit card points for retail companies: As stated above, you must verify the value and will you spend that much in that particular store?

6) Credit card points that are transferable to airline frequent flyer companies: This is a tricky one. Most of these companies will offer a rate of point for point with the frequent flyer company (every dollar spent is a frequent flyer point {50,000 credit card points is 50,000 frequent flyer points}). The major problem is you now must rely on the frequent flyer program to have availability which is iffy at best.

7) Cash back options: Some credit cards will offer 1%-2 ½% cash back at the end of the year. The simple reality here is that if you are not a traveler get a card with a cash back option and at the end of the year buy yourself something like a 60 inch flat screen TV.

Aside from the insurances and assuming you are a traveler, I recommend getting a card that offers 2 options. The 1st being the ability to transfer points into a frequent flyer company because if there is seat availability this option gives you the most bang for the buck (Best example is most frequent flyer companies will charge 125,000 frequent flyer points for a business class ticket to the Orient. The same 125,000 credit card points will equal $1250.00 which is an amazing deal for the Orient.) while converting your credit card points to "travel dollars" or "retail dollars" is not a bad second choice

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