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How to Choose a Credit Card That Works for You

topcreditcardservicesJan 16, 2019, 3:21:10 PM
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There's no such thing as the best credit card ever. People have different wants, needs and requirements. So if you're planning to get a credit card but don't know which one exactly, it's best to first explore your options.

Here are four things you can do to help you find a credit card that fits your spending habits and credit standing to a T:

Assess your credit.

First of all, check your credit score and look for credit card at cardguru.com offers that you could qualify for. Obviously, a better score will give you a better chance of approval for cards with better interest rates and terms. You can get your credit score from your existing card issuer or issuers, from one of the credit bureaus, or from certain websites that provide this info for free. Some of these sites have less than honest intentions though. If they ask for your credit card number, look elsewhere.

If your credit score is not what you have expected, review your credit reports and find out why. Then you can start finding ways to improve. For example, be smarter with your spending, or, if there are errors on your reports, dispute them.

Consider your credit needs.

CardGuru Credit cards come in three general types: low-interest cards, cards that earn you rewards, and those that you use to improve bad or limited credit. The best one for you is one the one whose features meet your particular needs. For example, if you rarely travel, why get a card that offers free miles?

If you want to build or rebuild credit, a student or secured credit card might be your best option. Student credit cards are unsecured cards designed for college students who want to start building credit. Eligibility requirements for these cards are also the easiest, and the same can be said for secured credit cards. A secured credit card will usually require a security deposit of at least $200. Once you upgrade or account or close it in good standing, that amount will be returned to you.

If you're looking for a low-interest, zero interest APR, or a balance transfer card, you have a number of options going. If you plan to reserve a card for emergencies, get one with an introductory 0% APR and a low interest rate. Same goes if your don't have a stable income and carry a balance every now and then. A balance transfer may help you finish off a high-interest debt without paying interest. If you have poor or average credit, however, such offers may not be easy to come by.

Finally, if you're interested in rewards, you can aim for a rewards credit card if you never carry a balance nor incur interest. Such cards usually have higher APRs, but they do come with sign-in perks and offer points, miles or cash back. You can also learn more tips on where to find the best credit cards, go to https://www.huffingtonpost.com/entry/when-is-a-personal-loan-better-than-a-credit-card_us_59edc23de4b092f9f241939c