Learn How to Get Best Credit Cards
In our modern world of buy now pay later a few of us don’t have at least one credit card in our wallets. The trouble is the interest rates and fees attached to some of these cards are incredibly high. So perhaps now is the time to learn how to get the best credit cards.
Every day of every week the credit card industry bombards us with bigger and better offers. They are continuously trying to tell us why they are the best and why we should do a balance transfer to their credit card. It can get rather annoying after a while.
After all, we are all aware that a cheap credit card usually only stays that way for a very short period of time.
The best way to find the best card is to put together a list. Your list should outline the current internet rate they are offering and how long that rate is in effect.
It should list what the regular interest rate will be, what the interest rate is on balance transfers, and what the interest rate is on cash advances. It should also include any monthly or yearly fees the card charges, as well as any incentives like cashback or air miles.
But before you can determine which credit card is best for you, you have to figure out what your personal needs are. This means you need to create a second list. You’ll need to list what your requirements are to use the card for, whether you are planning on doing balance transfers, and if you are planning to pay it off at the end of the month.
If you will be doing a lot of traveling you might want to need for that card which offers travel insurance and also travel discounts, or perhaps a card that builds air miles is best for you. Once you know about your needs are you’ll be in a better position to find the right card for you.
The best place to compare credit cards is online. Most offer an excellent description of what their card offers, as well as rates, and fees. Be careful about hidden fees that are usually buried deep within the terms and conditions. Read these carefully!
Some credit card companies charge an enrollment fee; others may charge a yearly or monthly fee while offering a lower interest rate. Do the math including this fee to make sure that it really is a lower rate than other no fee cards are offering.
There are some credit cards that have no fees attached to them. These are generally the best cards to get. They might be harder to find but they are definitely worth the extra effort to search for.
The interest rate being charged by the credit card company is also another important factor in determining which card is the best. Of course, it’s always smart to look for the card with the lowest interest rates but as mentioned earlier make sure it really is the lowest rate after all other costs have been included.
Also, note the long term rates. Some cards offer a wonderful opening rate that’s well below the standard rates. However, these rates are usually just for a short period of time like 6 months and then you can sometimes see the new rate exceed what the standard rate is.
You should also look for credit cards that don’t charge you any interest if your purchases are paid off within a specific period of time. Usually 30 days. Here again, you need to watch because some companies start counting the 30 days from the minute you make the purchase while others do not count it until it actually appears on your bill.
Anyone will need to decide what type of limit he desire on his card. If you are looking for a high spending limit you may find you have to pay a little more in interest. If you don’t care about the spending limit you can often get a better rate on cards with a low spending limit.
If you want to get the 100% best credit cards it requires just a little effort from you. All you need to do is a little bit of research online, and also to ignore all that offers that come your way unless you are sure it really is a good deal.