How To Choose A Credit Card, And How To Use Them
It is great to have a good credit card. A credit card can be a useful thing to make any purchase or it can be harmful if you are in credit card debt. The credit card can saves money, it’s true, but there are a variety of cards available for you. How to choose it?
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Well, I’m not a guru of credit card and I can not tell you which cards are best. However, each user have special needs about credit card, in order that I can say which are the difference between the credit card out there and their features:
How To Choose A Credit CardMake sure to choose credit card that have low interest rates. This especially if you have a credit card debt. Find card with no annual fees, this is useful if you pay your balance in full every month.
If you spend a lot on travel, look for a card that gives added rewards for flights and lodging. When choosing a credit card, Money magazine recommends you pay special attention to the Schumer Box, a prominent table in every credit card application. Look for:
- An annual percentage rate of 11% or less on purchases.
- If you’re doing a balance transfer find Credit card with low rates.
- Find a reasonable penalty rate, and follow the asterisk to see what triggers it.
Don’t choose credit card with one-time bonus, only because you are sure getting a discount at your favorite store, don’t falling prey to their traps. However, here are some of the top cards available today:
APR - Introductory APR serves as an incentive to transfer balances from existing credit cards to the new, low or no interest credit card to take advantage of a much lower or 0% interest rate to save money on interest charges. If you plan to make a travel, or just anticipate a large ticket purchase, you can use a 0% introductory APR credit card to handle the sudden surge of expenses.
Balance Transfer - A balance transfer is an option offered by many credit card issuers which enables the card holder to use their available credit from one card to pay off the balances due on one or more other cards.
Low-fee credit cards:
- American Express Clear - 0% introductory APR, 3.99% fixed APR on balance transfers for one year. No annual fees or transfer fees.
- Capital One Platinum Prestige - 7.9% purchase APR, 7.9% transfer APR. No fees of any kind(annual or transfer).
Cash-back credit cards: If you want find the best offer with cash back or rebate incentives, here I put all available cards.
Chase Freedom credit card - 14.99% transfer and charges APR. No annual fee. 3% cash back in Gas Stations, Grocery stores, Quick Serve Restaurants. 1% cash back everywhere else.
Capital One No Hassle Cash Rewards - 14.9% purchase and balance transfers APR. 2% cash-back on gas and groceries, 1% cash back on all regular purchases.
Blue cash from American Express - 0% intro APR for one year and no of fees any kind. 5% cash back it offers at gas stations, supermarkets, and drug stores.
Discover - 0% intro APR(6 month on new charges), 12% intro APR(12 month on balance transfers). 5% cash back on select purchases. 0.25%-1% on all others rewards credit cards.
American Express True Earnings Card - 14.99% APR. 3% cash back for gas and restaurants, 2% cash back for travel, 1% cash back everywhere else.
ChosePerfectMasterCard - 0% intro APR. No annual fee. No annual fee. 3%(6% forth first 90 days) rebates on gas maintenance, while 1% on all other purchases.
Discover Open Road - 0% introductory APR on new charges(for 6 months) andbalance transfer(for 12 months). 5% cash back for the first $100 on gas and auto maintenance. 1% on purchases made anywhere else.
If you have had credit card debt, learn more about credit card is crucial for your personal finances.
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