SELECTING THE BEST CREDIT CARD FOR YOUR NEEDS
There are so many different types of credit cards,
all offering different rates, terms and incentives.
Below is some information that will help you choose the
most appropriate credit card for your needs.
Do your research!
Most importantly, you should always examine more
than one credit card offer and see which will give you
the best deals and rewards, with the lowest fees and
Do you anticipate carrying a balance every month?
-- Paying in full every month -
If you are not going to carry any credit card balance
then you should look into applying for either a credit
card with rewards or a credit card with no annual fee.
Since you won't be assuming any debt with your credit
card, you will not have to worry about the interest rate
-- Carrying a balance - If you plan on utilizing some or all
of the available credit line your card offers, you
should look into applying for a credit card with a low
interest rate. The interest rate will be stated as the
APR, or annual percentage rate.
** Always make sure you never miss making a credit card
payment. If you do forgot to pay one month, your
interest rates will increase to the
How will use your credit card?
Determining how you will be using your card will
help you decide what kind of credit card to apply for.
-- Are you going to be utilizing cash
advances from your credit card? - Using your
credit card for cash advances means that you will want
to apply for a card that offers a lower APR and lower
fees for cash advances. It is common for all of the fees
associated with cash advances to be higher than purchase
APRs. So make sure that you understand what the cash
advance APR is and what the purchase APR is.
-- Do you want a credit card that offers
incentives and rewards? - Almost every credit
card offer has some types of rewards and perks
associated with them. Some popular reward offers are
airmiles, cash back,
gas rebates and discounts on dining
If you plan on applying for a reward credit card, make
sure you select a card that offers rewards that you will
actually use. Also, most reward cards charge an annual
Learn more about the
credit card reward offers we provide.