How to Choose the Best Credit Card
If you don’t have a credit card, you’ll want to shop around. You want to get the best card for your lifestyle. This can take a little bit of research before you settle on one. If you don’t shop around, you might end up getting the completely wrong card. The rewards won’t be anything that you’re interested in. You want your card to work for you. The best offer may be something small, but if it works for you, it’s worth it. This article will go over how you choose the best credit card for you.
Get Your Credit Score
Before you can apply for any credit card offers, check your credit score. You’ll need this number so you know what the best card you can apply for. You can get your free report once a year. Once you have your credit score, you can start the research process.
Think About What Type of Card You Want
You want the best credit card with the best rewards that match your lifestyle. There are three main categories of the best credit cards, and they are listed below.
1. Cards That Save You Money on Interest.
2. Cards That Give You Rewards.
3. Cards That Help You Build Credit.
You’re looking for the best credit card for your lifestyle. For example, if you don’t travel a lot, a travel rewards card isn’t the card for you.
Low or Zero Interest Cards or Balance Transfers
The best credit card has low or no interest, at least for the introductory period. This is a good choice if you plan to use the card for emergencies. If you don’t have a steady job, this card will work for you. You may want this card type if you plan to do balance transfers. This could help you pay off any high-interest balances you may have. These might require you to have a higher credit score to obtain.
If you don’t plan to carry a balance and you intend to pay your balance each month, try a rewards card. The best rewards card will offer things like cash back, travel miles, or sign up bonuses. However, these cards can come with high annual percentage rates. If you plan to travel, this is a good card choice for you.
Secured or Student Credit Card
If you don’t have that much credit, or if your credit is poor, you can try these cards. A student credit card is for college students who don’t have a lot of credit. These are unsecured cards, and they’re easier to apply for than traditional cards. You can also get a secured credit card. You’ll pay a balance to open the account, and it’s usually around $200. Once you close the account in good standing, you’ll get your deposit back.
Ask Questions to Find the Best Credit Card
Now that you’ve chosen a card category, it’s time to ask questions. This will help you narrow down your choices even more. The difference in the questions depends on which card you want to apply for.
Anyone Who Wants a Low Interest or Balance Transfer Card
The first thing you should find out is how long the 0 percent APR is for. The best balance transfer credit card will give you enough time to pay off your debts. If you’re going to have a balance for several years, try a low, continuous APR rate. If you’re going to transfer balances, look for those fees. Also, look for any restrictions on how much debt you can transfer. Finally, you can look for optional rewards if you’re only going to use it for a few months.
Anyone Who Wants a Cash-Back, the Best Rewards, or Travel Card
If you shop or travel a lot, look for a card with miles and cash-back. If you plan to travel internationally, pick a card with no foreign transaction fees. Also, look for chip-and-pin capabilities. This is standard in other parts of the world. The United States uses chip-and-signature capabilities. The last thing you want to do is get stranded somewhere and not be able to access your money. If you want a card with low hassle, consider a flat-rate rewards card. Finally, the best credit card will offer quick rewards. Make sure to check how fast you’ll be able to access your rewards.
Anyone Who Wants a Secured or Student Credit Card
If you’re looking for this card, you should ask if it’s going to help build your credit. Pick a card that reports to all three credit bureaus. Double check that they report because many secured cards don’t offer this. The best credit card will do this for you. You should also ask how much it costs to open the account initially. You must also look for an annual fee. Unless you have extremely poor credit, you shouldn’t have an annual fee with a secured card. Finally, choose a card that will let you graduate to a higher credit line. This will make it easier to stick with the same card for a long time. This will also look better on your credit history.
Reviews of the Best Secured Card Offers With Applications
|Capital One ® Secured MasterCard ®||Discover it® Secured Credit Card|
|Citi® Secured Mastercard®||OpenSky® Secured Visa® Credit Card|
Start the Application Process
Once you’ve picked the best credit card, start applying for it. If you still can’t decide on the best credit card, look for other perks. Your rewards card should have lower spending limits. This means you won’t have to wait a long time to get your rewards. If you pick a secured card, look for the lowest on time payments option. This will give you access to a higher line of credit at a faster rate. The low-interest card should have no late fees or penalty APR rates. These questions should help you narrow your card choices down to one.
Use Your Card Responsibly
When you choose the best credit card, use it responsibly. This will be the key to rebuilding your credit. Make sure you make every payment on time. Don’t run up a large balance, and pay it off each month. Your card should help you continue establishing your credit. It can only do this if you use it responsibly.
Now that you know about several credit card choices, you can pick the one that suits your needs. If you choose the best credit card, it’ll work for you. This process may take time, but researching the different cards is worth it. So take your time, and double check every card you’re considering.
Advertiser Disclosure for the CreditFast website – CreditFast.com, provides information about the best credit card applications, as well as other financial products and services. Our goal is to provide you with fair, balanced reviews. Some credit offers that appear on our website are from companies from which CreditFast receives compensation, and some are not.