Which Credit Card is Best For Me
Which credit card is best for me? Credit cards have come to stay and are not leaving any time soon. Since they have become numerous and come with various specifications, it is important to know which card is best for which kind of lifestyle.
This piece is about how to know which card is best for you. It contains a number of questions that can help you to select which card is best for you. Credit cards, since their invention by Frank McNamara in 1950 have become a very convenient way to transact business all over the world.
It has become a safe way to carry money, pay for goods and services, withdraw money from the bank and do many more others.
Because there are different brands to choose from on the financial market, individuals oftentimes are at a loss as to which one is best.
Choosing a credit card to use should be done based on how you use the card. Some of the questions you should ask yourself are, are you the type who travels globally? Do you transact or transfer large amounts of money from one place to the other? Are you a beginner, that is to say, is this your first time using a credit card?
These are some of the questions to ask yourself before choosing or selecting a card to use.
That said, here are some of the things to look out for when you want to get a credit card to use.
Do check your credit.
Because there are numerous cards in the system, find out first which card you qualify for. Do this by knowing your credit score first. If your score is good, you stand a chance of qualifying for a card. If your credit score is not a good one, you might want to first check how you spend money or the expenditures. Secondly, if your spending habits are affecting your credit score, you might want to do something about it. If after checking them, there is still a problem, you might want to request a copy of your credit report to find out exactly what is happening. The law permits you to request a free copy of your credit report every year, i.e twelve (12) months. Once you have your report, you can know what is happening and then you can find ways of making your credit score better.
Find out the type of card that will suit you
You need to know exactly which type of card will be okay for you to use. For example, if you are not the kind of person who travels, a travel card would be useless for you. If you are a student, you will need to have a student’s card. So you will need to have a card that you would need and indeed use. This is what will benefit you and improve your credit score.
Averagely, you will find three main types of cards on the credit card market.
The first type is credit cards which help to better your credit score.
The second type helps you to save some cash because of little interest
The third type is credit cards that earn you some rewards in cashbacks and other forms.
As you take a decision on “what credit card should I get” you must go in for a card that will meet your need? For example, if you are not yet having a regular income and are a starter in the usage of credit cards, it is best to go in for a card that has very low interest and zero per cent APR (0% APR)
Before you get a card, ask the correct questions
There are helping aids to assist you to select the right kind of card. https://www.nerdwallet.com/credit-cards/ is one of the portals where you can find out more about selecting or choosing the right kind of card you need.
Some of the questions to ask are:
Will it help you to accumulate credit?
How much is the annual fee for the card?
How much does it cost for the initial account opening?
Can I be allowed to upgrade to a card with better terms later?
If it has a 0% APR, how long with the APR remain 0%
How much is the proceeding interest APR?
What is the transfer policy of the card?
Are there any rewards to get from this card?
What are the complications of this card?
It is user-friendly?
After asking all these questions, what do you do next?
Once you have gotten your answers, choose the card that will best serve your interest and make sure you use the card properly. Go for value for money. If your aim is to build up credit, ensure you are paying your bills fully each month. If you have a debt payoff plan, try your best to stick to it.