Most of today’s lifestyle cannot do without a credit card. And this is true especially among individuals who need to make emergency purchases or cash advances. But before going to a particular bank, or secure any online credit card application, you have be very sure that you’re applying for the best possible card for you.
It is best if you can shop around for the different credit cards available in the market. If you plunge into cards offering low interest rates at first glance, you might regret it in the end.
Most cards offer very low interest rates for a maximum period of six months, and after that, they would be charging a different rate. Other credit cards also charge annual fees, which can eat up the savings that you’ve been making for several months.
You can find in the net sites that provide credit card comparisons many search engines. You can make use of these tools to aid you in choosing the best credit card available in the market.
If you currently have a card and is unsatisfied with its services, you can always ask your credit card company about possible new offers, or find out if another company has a better arrangement.
Most experts will likely tell you that a card with a low-fixed interest rate is much better that a card with variable rates. This would entirely depend on how you are going to use your card. Different cards have their own advantages and disadvantages, and it would help you a lot if you can get information about this matter.
Other important considerations include understanding all the conditions, terms, and the key numbers such as annual fees, APR, penalties, grace period, interest on cash advances, late/over limit fees, and other deal terms.
Most of today’s credit cards have cash perks. You should be aware that these cash perks is not all good news. It might even cost you a lot. Some of these options provided by card issuers are automatically added to your account, some you can actually turn down, and some asks for your consent. Before going any further, you must clarify all the necessary details with your card company to avoid any misunderstandings.
Credit card companies usually provide for options like purchase protection, discounts, insurance, flyer miles, and cash rebates.
You should also be aware that there are people around you who are completely dishonest, and want to make a fool out of you intentionally. So make sure that you watch out for these scammers:
– offers for debt suspension; other banks offer this especially to those who can’t settle the full amount of their bills monthly because of a disability/job loss; they hold the amount, and after you’re back at the working scene, the balance is still there waiting for you.
– advance payment of fees: people who are in desperate need for a credit card are likely to fall prey in this kind of scam, once you make an advance payment, you will never find or hear from those scammers again.
– purchase credit protection; you must be aware that there is already a law that protects credit card users, so make sure that you immediately report if your card is stolen or missing.
Finding the best credit card among so many different card issuers is a daunting chore. But with a little research and knowledge, you may be able to find the best card to fit your lifestyle.