Happy Card Shopping

Category: Finance, Credit.

There are literally hundreds of credit cards on the market. When you decide to apply for a credit card, how do you decide which one is best for you?

They come in all different colours, and all with, shapes varying features and benefits. The following points should be looked at when choosing your credit card. Compare the interest rates of all the cards you are considering. Interest Rate. Many cards would show you an introductory rate of 0% which at face value seems like a pretty good deal. With some cards this could be as much as 29% . But be sure to read the terms and conditions to find out what the reversionary APR would be.

After your introductory period, you could be faced with a large monthly payment you were not ready for. The introductory period varies from card to card. Introductory Period. The average time is about twelve months. Bear in mind introductory periods would allow you to enjoy interest free credit card use, so the longer the better. If you look around you could find cards with longer periods but based on your circumstances, you would need to decide which introductory period is best for you. Bonuses.

This is essentially a way to earn cash on your purchases and this can add up based on how frequently you use your credit card. Some credit cards carry extra benefits such as cash back when you use your card. There are rewards, miles and points cards available as well. Depending on which appeals to you more, you can choose to apply for a card that allows you to earn free flights if you fly a lot. With these cards you get the chance to earn air miles, rewards or points towards specific programmes. For sports fans, there are credit cards that offer you NASCAR race points or NFL points.

If you are all about giving back, then there are even credit cards that donate a percentage of what you spend to named charities. Gifts To Charities. It gives you that good feeling to know that while you are spending on yourself, someone else benefits as well. Be sure to look at the rate charged for cash advances, late payments or going over your card limit. Extra Fees. These fees can add us quickly and would vary amongst credit cards.

Annual fees can add an unnecessary debt to your credit card, so you should choose a card without one. Annual Fee And Repayment Grace Period. The repayment grace period tells you how many days you have before interest is applied to the account. Be sure to read the fine print. In order to get this benefit, some card providers require you pay your New Balance Total from the previous statement by certain dates. Bases on your circumstances and what you want in a credit card, you ll have your own tick boxes that must be matched.

Happy card shopping. Whichever card you choose, make sure you read the terms and conditions to avoid any surprises in the future.

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