Top Tips For Finding The Best Credit Card For You
- Compare credit cards
There are literally hundreds of credit cards on the market, but are all the credit cards on the market the right one for you. It is important to choose a credit card based on your own individual needs, just as it is important to compare credit cards based on the features and rates of different cards. Compare cards on price, features and rates to help you find the best credit card possible.
- What is your credit score?
Before you begin going out and comparing cards, it is important that you know what your credit score is. There are a number of websites that will tell you what your credit score is and for a small fee this will let you know up front. This will allow you to shop around for different cards without being pressured. Knowing your credit score is important because it gives you an idea of the various costs and depends of a card. The best way to compare cards is to compare credit cards that are pre-approved, as these have a fixed credit score range.
- What are the annual fees?
It is good policy to avoid the top credit cards, as they generally have high annual fees; however, if you are applying for a card based on its introductory offers, it is worth looking out for cards with no annual fees. If you are looking for a credit card and it will be the first one you ever have, it is important to look out for special offers.
- What are the interest rates?
It is possible that the card would have a high interest rate, due to having a poor credit rating, however, in most cases, it would not be as high as some. Most cards that have a high annual fee are also responsible for high interest rates. If you are considering a card based on outstanding features and rates of APR, it is worth examining in depth. If you want a credit card because you are part of a loyalty scheme, then choose a card that uses self-leted rewards, which are generally available from the best credit cards available on the market.
- Are there hidden fees?
Some fees, especially those for cash advances, are higher than others. Before applying for the card, it is a good idea to research and see what the annual fees are and what is owed in an introductory second year, and if there are any after this introductory period. While these cards are ideal for auto and travel credit cards, they can be just as useful if you travel primarily for business. Make sure you know what the annual fees, interest rates and rewards program are, as these all affect whether the card is worth it.
Finding thebest credit cardgiven these ideas, will help you to find the best credit card for you.