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Things to Consider when Selecting a Credit Card

creditcardtipsJan 14, 2019, 3:11:36 PM

It is very common to find yourself over over-flooded with credit card offers when you start looking for a credit card to choose. It is likely to get them in your email every day. Be careful not to sign up the first offer you get. You should instead take into account some factors before making the decision to get a credit card. In general, it is good to get yourself a credit card if you can handle that responsibility well. They can really come in handy and help you a lot. But there is also the risk of misusing it. That is why you should be sure you are ready for such a responsibility before you go and get one for yourself. Take into account the following factors when deciding which credit card you will use.

The first thing to consider is the kind of spending habits you have. You can do this by first tracking what things you have been spending your income on over the past few months. This will give you a good idea of how you will be using the credit card if it will only be reserved for emergencies only or day to day usage. Also, determine whether you intend to be paying off the card monthly or you will be spreading the payments over a couple of months. If you will be the type to pay in full then choose a credit card such as Citibank cards Singapore that has a long grace period and also no annual fee.

Also, have a look at the credit card's interest rate. The interest rate can either be the constant fixed figure. Or it can be a rate that varies and is tied to a financial indicator. The good thing about the fixed rate is that you will always what the rate is as you move from month to month as compared to the varied one which changes. Check out for the most convenient credit card from this company.

The other aspect to consider when selecting a credit card is the fees and penalties that are in place. Expect to see fees like transaction fees for balance transfers or when you make a payment on the phone. Ensure the credit card you select has charges reasonable fees.Also, ensure you see what penalties are in place in case you exceed your credit card limit or in the event you pay your bill late. The penalties being charged should be reasonable. Have a look at all these factors and make a good decision that you will not regret.

See more info on this link: https://simple.wikipedia.org/wiki/Credit_card.