subject: Steps You Should Take To Properly Choose A Credit Card [print this page] If you are currently in the market for a new credit card then there are a number of things you must decide upon before you choose the best fit for you. There are tons of available credit card offers to choose from and at times the review process may be overwhelming. Here are a few things that you should focus on in your search for the best credit card for you.
You should first ask yourself how often you plan to use your card and how you plan to use it. Certain cards will work out better for depending upon your situation. For example, if you plan to pay your balance in full every month than this will affect what type of card best suits you. However, if you do not plan to pay the balance in full than you need to be looking at paying interest and fees. Otherwise, you will not be subjected to the interest if you are paying full.
If you are planning on bringing a balance along to your new credit card from a previous account, then one thing you definitely need to focus on is introductory offers. Most introductory offers will offer you zero percent APR for a given amount of time. This usually ranges from about six to twelve months. The great things about these types of accounts is that if you can completely pay off your transfer balance within your intro period, then you have basically capitalized off an interest free loan. This should always be your ultimate goal, as the interest will begin to accrue after the intro period is over.
Another important feature that should not be over looked is the reward program. There are many types of rewards cards available with different categories to choose reward points from. If you are a frequent flier you might want to consider a card that offers airlines rewards. However, if you are not a frequent traveler, such a card will not be good for you. Choose a rewards program that fits your lifestyle or business well. If you are a home improvement buff, than a rewards program at Home Depot might best suit your needs.
Before you being to fill out that credit card application, here are a few more important account features that you should take into consideration. Make sure you read all the fine print and gain an understanding of all fees and penalties that can be associated with your account. Some credit card programs require that you pay an annual fee just for being a member, while a lot of accounts do not. Some credit card companies are more notorious than others in regards to fees. As long as you are using your account responsible then you can avoid the troubles of increasing interest rates or a submission of your rewards program points.
