How
to Shop for a Credit Card
By: David Medlock
With so many credit card offers available to nearly anyone
who wants one, it can be difficult to find a reasonable
offer that fits your personal needs. Here are some things
to look for when shopping for cards:
•Interest Rate: This is one of the most obvious, yet
important, things to look for when shopping for a creditcard.
Interest rates can often be as high as 24% and sometimes
as low as 0% for introductory rates. Make sure that you
know what the rate is before signing up. Also, if it is
an introductory rate, find out how long that rate lasts
and what it will go up to after the introductory period
is over.
•Annual Fees: You can often obtain a credit card without
having to pay an annual maintenance or membership fee. If
you can find a deal that allows you to avoid annual fees,
it is highly recommended that you do so.
•Rewards: One of the most requested features for creditcards
is to receive rewards for using the card. If a credit card
company is willing to offer you a cash-back incentive, free
gasoline rebates or frequent flier miles, it may be worth
looking into. Some creditors have even begun offering mortgage
rebates, where they will pay a certain amount of principle
on your mortgage if you use their creidt card.
•Balance Transfers: If you have other cards that you
plan on transferring balances from for your new card, be
sure to check on the balance transfer rate of the new card.
Many times you can find a 0% introductory rate that would
allow you to pay the card off within the introductory period,
thus saving you a significant amount of money in interest.
•The Fine Print: Always read the fine print on creditcard
applications. I know it isn’t any fun and sometimes
it’s difficult to understand, but if you have problems
later because you didn’t read the fine print, you can
only blame yourself and your creditor may show no mercy
in dealing with you.
Do your research before you buy a card. Compare the interest
rates, balance transfer rates, introductory periods, rewards,
benefits and annual fees. Consider the fine print and make
an informed decision. This way, you’ll be sure to get
the most benefit out of any card you choose to use.
About
the Author
David Medlock owns GetSomePlastic.com, a premier provider
of online creditcard applications and instant approvals.
GetSomePlastic.com always encourages responsible use of
credit cards and informed decision making in financial matters.
http://www.getsomeplastic.com
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