You need to be sure you can pay off your credit card each month without falling into the trap of credit card debt. If you are able to stick to your budget, it may make sense to apply for a reward-based card.
If you have a gut feeling that it’ll be challenging to pay off the credit card wisely, you need to cancel it. You can use this opportunity to search for a new spending plan that actually saves you money.
If you are diligent in paying off all balances every month, you can start using credit cards to build credit and save you money. All of my cards are cashback credit cards and offer me higher cashback depending on what I’m purchasing.
Before signing up, make sure you check the fine print to ensure you’re not signing a contract that has an introductory rate but later changes to a high-interest clause. Take your time and be certain that what you are signing up for will actually benefit you in the long run.