Credits cards are in a way similar to chainsaws such that even though they are very handy tools for daily use, they are also capable of inflicting horrendous damages when they are not used properly. The two tools thus require the same advice for anyone that anyone that may be using them and it is making the right choice of the tool for the right use and following the safety rules strictly as well. Bearing in mind how popular credit cards have become in the world today, it is essential to provide some of the tips and guidelines that govern the choice of the cards today as discussed below. Check out for more info about credit cards from EnjoyCompare.
The first thing everyone should ask themselves before they go into the business market in search of a credit card is to how they intend to use the card. It is also vital to determine if one is ready and capable of paying off the card every month as required or if they are likely to carry a balance from one month to another. It is also vital to decide whether the card will be used to pay for everything or only for emergencies. The interest does not really matter for the cardholders that are most likely to pay the amount in full monthly, and it is wise to go for cards with no annual fees as well as longer grace periods to avoid getting hit with finance charges. The ones with the most likelihoods of carrying balances should go for cards that offer the lowest possible interest and introductory rates. People with plans of using the cards to make most of their purchases, on the contrary, should pick cards with the generous credit limits as well as solid reward programs. Those intending to use the card only for emergencies are best with no-frills card options with low fees and interest rates. See more info about Citi cash back credit card now.
The interest rate on credit cards appears as the Apr or the annual percentage rate. It can either be fixed or variable and is usually tied to another financial indicator which is popularly the prime rate. The fixed rate credit cards come with a set rate for every month while the variable one comes with rates that fluctuate from one month to another. The fixed rate card can also fluctuate due to some factors such as paying the card or any other card late as well as exceeding one's limit and also when the issuer of the card chooses to change the rates.
Click on this link for more info: https://en.wikipedia.org/wiki/Choice_(credit_card).