Credit Card Quick

Your Guide to Getting the Best Credit Card in your Wallet

If you’re like most credit card holders, your goal is to get a credit card with the lowest interest rate and the most perks. However, how do you begin to find the perfect credit card?

Well, it is best to start your search online, as many websites will compare credit cards, side by side, according to their APR, annual fee, terms and conditions, and perks. This will give you a broader picture of what types of credit cards may be available to you and what you can expect in terms of APR and promotional rates.

However, beyond that, here are some tips that will help you score the credit card that best fits your lifestyle and your budget:

• Chuck the annual fees – There is simply no reason to pay an annual fee for a credit card anymore, unless of course you are involved in an advantageous rewards program. But for most credit card holders, it just doesn’t make sense to fork over an annual fee for a credit card.
• Think “fixed” in terms of interest rates – You may find a credit card with a fantastic, variable interest rate, but beware that this interest rate can shoot up at any given time. The new credit card legislation has clear boundaries for creditors when it comes to raising interest rates on fixed-rate cards, but variable-rate cards are still fair game. No matter how attractive the offer seems for a variable rate credit card, your best bet is to find a card with a low, fixed interest rate.
• Don’t get pulled in by an attractive introductory rate – Introductory rates, which are often as low as 0 percent, may seem like a great deal. However, introductory rates are just that – introductory – which means that after the introductory period has ended your interest rate can shoot up to very high levels.
• Pass up rewards programs (most of the time) – For the average credit card user, rewards programs are just not beneficial. However, if you are a big spender, and you pay off your card in full each month, a rewards credit card may be worth it.

Related posts:

• March 16, 2011 -- The Four Most Important Factors to Consider when Comparing Credit Card Offers (0)
• September 27, 2010 -- APR 101: What you need to Know (0)
• September 14, 2010 -- The Top Three Factors to Consider when Shopping for a Credit Card (0)
• May 9, 2010 -- Hidden Credit Card Perks (0)
• August 3, 2009 -- Your First Credit Card: Terms you Need to Know (0)
• July 20, 2009 -- What you don’t Know Might Hurt you: Important Questions to Ask before Signing up for a Credit Card (0)
• May 11, 2009 -- What you Need to Know about Balance Transfers (0)
• August 24, 2011 -- Can you Negotiate a Lower Credit Card Rate? (0)
• July 19, 2011 -- How to Keep Yourself Out of Credit Card Trouble (0)
• July 14, 2011 -- How to Fight Inaccurate Information on Your Credit Report (0)
• July 11, 2011 -- How to Negotiate your Way to a Lower Rate (0)
• June 28, 2011 -- Your Guide to Understanding Your Credit Card’s APR (0)
• June 15, 2011 -- Not Happy with Your Credit Card’s Interest Rate? Here’s What You Can Do (0)
• June 7, 2011 -- What to Consider when Applying for a Secured Credit Card (0)
• June 6, 2011 -- Consequences of the CARD Act You May not Have Considered (0)

Posted on Tuesday, Jun 15, 2010 under "Choosing Credit Card"
Post tags: annual fee, APR, compare credit cards, credit card holder, interest rate, introductory rate, reward programs

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