Finding the Credit Card That Best Fits Your Needs
Anyone can find a credit card offering a low introductory interest rate. Many credit cards out there advertise offers to entice customers. The challenge is to find a card with the best terms that you can live with. Opening and then canceling a card affects your credit score, so it is preferable to select the one that meets your needs before applying.
The most popular credit cards are Visa, MasterCard, American Express and Discover card. Each has its own website that you can check out for offers. You want to select a card with a reasonable annual fee or one without an annual fee at all. Some cards, like the American Express Platinum card, charge an annual fee but provide side benefits such as free airfare for your companion.
Most cards also offer roadside assistance, zero liability on unauthorized charges, rental car insurance coverage, and other benefits.
If you want to be rewarded for using a credit card on everyday purchases, get a reward card. If you are into traveling, choose an airline card. Miles that you earn by using the card can be exchanged for an airline ticket. Other cards reward gift certificates, merchandise, hotel stays, and cash to their customers.
Specialty cards may offer free credit scores, discounts on your utilities, theme park tickets, or allow you to support a cause or charity by donating your reward earnings.
The next kind of reward card is the rebate credit card. Most of these cards reward you one to five percent of the amount of qualified purchases. Some rebate credit cards offer gas rebates. To get the full rebate, these gas rebate credit cards are best used at stand alone stations rather than at wholesale club stations.
Whatever card you decide on, always read the terms and conditions in full. Interest rates and annual fees may change in an instant and increase dramatically. If you know what to expect, chances are you will be pleased with the credit card you’ve selected.
To maintain your good credit score, don’t spend over your limit. Pay off your statement balance every month. It is wise to carry two or three major credit cards such as Visa and American Express for credit purchases. You may also decide to keep one credit card for emergency use.
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