Today the choice of credit cards is so wide that choosing only one can be really challenging. The one deal, appropriate for you, can differ a lot from the rest. We would like to offer you six questions which will help you to determine the right credit deal to save your money.
Are you a student?
If you are a high school or a college student, you may apply for a student credit card. Most probably your credit card application will be approved, no matter what your credit score is. However, you’d better contact the issuing bank for the information before applying.
Do you need to transfer your balance from one card to another?
If you do, you should search for a special balance transfer card. These cards offer lower APR (Annual Percentage Rate is the total cost of your loan expressed as interest rate) for balance transfers. Credit cards with low APR on balance transfers are a great idea, although they are a good base for fraudsters.
Are you going to make large purchases?
You are a shopping lover, so you will like the deals with low APR on purchases. If you really intend to make large purchases, you will love to get bonus points for these purchases. By the way, consider the grace period, which is different for every card. Grace period is a period during which you can pay off your debt without any extra charges, or you do not have to pay at all, if you can’t. Usually grace period lasts for 10-28 days.
Do you take care of your obligation in full each month?
If you have enough money or your credit card is only for an emergency, you can pay off a bill in full every time you get it. In this case, chose the deals with introductory zero APR or grace period. You will be able to pay off your balance and not to worry about rates.
Do you mind to pay fees?
Very often the issuers charge various fees. And sometimes they can be really high. There are enough of them: annual fees, cash advance fees, balance transfer fees, foreign exchange fees, setup fees, penalty fees… Of course, not all of them are charged, but some (for example, cash advance fee) are charged always. Moreover, some issuers can charge a fee no matter whether you use your plastic or not.
Do you require a good Customer Service?
Sometimes this can be quite an important issue. In some cases, for example, in case of loss of your card or if there is any charge you would like to dispute, etc. you may need such a service. By the way, you probably need a friendly and competent service. So, search for the right bank with great reputation and with really helpful customer service.