People want options for everything these days, from gluten free, organic and vegan grocery products, to electric and self-driven automobiles, to different credit card options. More than 180 million people in the U.S. own credit cards, and the trend continues to grow, but gone are the days of one-card-fits-all!

Bank of Utah recently switched to Elan Credit Card Services in order to provide additional features and more flexibility from two of the largest credit card networks, Visa® and American Express®, without the high rates and fees typically charged. As a result, the bank offers 10 new business and consumer credit options to fit the needs of every lifestyle and generation, with the added convenience of online application.

Which One Should I Choose?
Will it be difficult to choose which one is right for you? Not at all, says Craig Roper, Bank of Utah’s Chief Deposit Officer. He suggests that you first decide what you want to accomplish with your credit card. Do you want to pay down balances, earn rewards or build credit? Today’s credit cards cater to one or more of these goals and offer additional perks to consider.

Pay Down Credit Balances
If your goal is to pay down your credit balances, switching to a Visa® Platinum Card might work for you with its low introductory rate of zero percent APR for an extended time. You can save on interest payments while paying down your debt.

Earn Cash Rewards
The Cash Rewards American Express® Card that gives three percent cash back on the first $6,000 in eligible net purchases made each year at gas stations and supermarkets, and one percent back on a variety of others purchases, is a way to save money toward special purchases.

Build Reward Points
Building up reward points through purchases is the way to go for some. The Visa® Signature Real Rewards Card that gives 2,500 bonus points after the first purchase on the card provides a good head start.

The Premier Rewards American Express® Card gives card holders scaled point values for every dollar spent on eligible restaurant, airline and gasoline purchases. This might appeal to Baby Boomers who are enjoying the fruits of their labors by traveling.

Build Credit
Young people fresh out of college or working in their first job may might find the Visa® Secured Card is just what they need. It provides a way to start building a credit history and is an option for people who have been turned down for a credit card. This credit card can carry a balance while earning interest on a secured savings account.

Over the next six years it’s predicted that the Millennial generation will surpass Baby Boomers in personal income worth, and by 2025 represent 75 percent of the workforce and 46 percent of total U.S. income. As their income grows, they will be able to switch to different credit options to fit their needs.

Support Your Business
Bank of Utah now also offers four business credit cards with important features such as expense management tools, no fee for additional employee cards, EMV smart chip technology for added security and mobile payment capability for added convenience. These cards also offer options to pay down debt and earn points or cash rewards for business purchases.

Apply Now!

If any of these options sound interesting to you or if you’d like to know how to apply for a credit card online visit us online.
For business credit cards click here.
For personal credit cards click here.