How to Choose a Credit Card for Newlyweds

Whether it's saving more, going on a dream honeymoon, or refinancing a home remodel, there's a credit card that can help.

Newlyweds often have a lot going on. Even when you've already built a life together, getting married is still a big step. While you may be busy, one important step you and your spouse shouldn't ignore is figuring out which credit cards you'll use.

Credit cards can be extremely useful, as they allow you to build credit and save money through rewards, among other perks. You could do this on your own, but after getting married, it makes sense for you and your spouse to take advantage of credit card benefits together.

There are lots of great credit cards for couples available. Here's exactly how you and your spouse can choose the right card -- or cards.

Go over your financial goals

Credit cards have a variety of features and perks. Before you start looking for cards, talk with your spouse about financial goals. This way, you can choose a card with perks that best match those goals. Here are some of the most common examples:

• If you want to take amazing vacations, look at travel credit cards to help cover the cost of your trips.
• If maxing out your savings is the priority, check out cash back credit cards that give you money back on every eligible purchase.
• If you have a big expense coming up that your savings won't cover, compare 0% APR credit cards that don't charge interest during an introductory period.

That narrows it down to a type of credit card. Now, we'll cover features to look at based on the type of card you want.

Travel credit cards: Redemption options and bonuses

For couples with a serious case of wanderlust, travel cards are a natural fit. The only thing better than travel is free travel, and you could do that with credit card points.

The tricky part about travel cards is that redemption options vary. That means the way to use your points could be completely different from one card to another. Here's a quick rundown of the typical card and redemption options:

• Airline credit cards earn miles redeemable for air travel.
• Hotel credit cards earn points redeemable for hotel stays.
• Some travel cards, in particular no annual fee travel cards, earn points you can redeem at a fixed rate (normally $0.01 per point) toward travel spending.
• Travel cards that are part of major credit card rewards programs provide a combination of the above options. They let you transfer credit card points to airlines and hotels, or redeem them at a fixed rate.

The last type of credit card is usually best for starting out, especially if you value flexibility. In that case, look for a card in any of the following rewards programs:

• Chase Ultimate Rewards
• American Express Membership Rewards
• Capital One Venture Rewards

As you compare credit cards, pay attention to the bonuses they offer. Most travel cards include sign-up bonuses, which are introductory offers available to new cardholders, and bonus rewards on certain types of purchases. The more bonus points you earn, the faster you and your spouse will earn free travel.

Cash back credit cards: Rewards rates in your top spending categories

Cash back credit cards make it easy to save more money. How cash back cards work is as simple as it gets -- pay for purchases with your card, earn a percentage back.

This means comparing credit cards that earn cash back isn't too hard. All you need to do is pick the card, or cards, that will earn you the most back. There are three types of cash back cards:

• Flat-rate cash back: Cards that earn an unlimited, flat rate on purchases. A few of the most popular cards offer an unlimited 2% cash back.
• Bonus categories: Cards that earn higher rates in bonus categories, such as groceries, gas, or dining.
• Rotating bonus categories: Cards that earn higher rates in bonus categories that change every quarter. You must activate bonus categories every quarter to earn the higher rate.

Compare cash back rates to your spending habits to see which card is a good fit. If you and your spouse handle different expenses, then it's probably best to get separate cash back cards. For example, if you always pay for gas and groceries, look at gas and groceries credit cards for yourself. If your spouse pays for more meals out, they'd be better off with a dining credit card.

0% APR credit cards: How long the 0% intro APR lasts

Sometimes big expenses come up shortly after marriage. Maybe you two are moving into a new place and need furniture, or you want to upgrade your kitchen, to give two examples. If an expense will be hard on your wallet, but you can't avoid it, a 0% APR credit card is a great solution.

This type of credit card has a 0% APR on purchases during the intro period. After the intro period is over, the card's standard APR applies to new purchases and any balance you have left over. That means you save the most money if you pay off everything before the intro period ends.

Look for a 0% APR card with an intro period long enough to pay off what you plan to purchase. If you estimate that it will take you 18 months, get a card with at least an 18-month 0% intro APR. If you can't find a card with a long-enough intro period, go with the longest one you can find.

Once you're ready, decide how you'll apply

After you and your spouse pick one or more cards that you want, the final step is deciding how to apply. Most card issuers don't allow joint credit card applications anymore, so you have two options:

• One of you applies for the card and adds the other as an authorized user. This works well if you want to share a credit card.
• Both of you apply for your own credit cards. This could be a better choice if the card has a sign-up bonus. By applying separately, you two could each qualify for the bonus and get double the rewards.

Both are good options. It just depends on which is better for you and your spouse, based on your financial needs and the card you're getting.