How to Choose the Right Credit Card
When acquire a credit card, everyone knows that not all are equal. You can apply a Low Apr Credit Card, a Travel Reward Credit Card, a No Annual Fee Credit Card, or an Instant Approval Credit Card. Each has its own characteristics which makes it difficult to compare them to find the right card for you.
To do this we should consider various factors, including interest rates, commissions, rewards programs and benefits to members. At the time of purchase cards, you must be taken into account various factors, especially to see the wide variety of plastics that we can find.
For the type of card, we can clearly distinguish three:
- Secured cards: They require a security deposit. Are designed for people who have no credit history or who are negative.
- Cards conventional deposit not required: Credit limits are broader than secured cards, but credit is lower than the first line card. They may have some advantage as an additional delay of payments, getting cash, etc..
- First line of cards: cards are gold, platinum, titanium, which offer larger loans and often have additional advantages, such as buying insurance, travel rewards, etc.
Also another aspect that must be considered is the period of grace that gives us each card to pay the full amount of the invoice, but not generate any extra charge.
Must also take into account both the annual fees in the case of exceeding the credit limit, fines for late payments, charges on transactions and operations, IE read the fine print that always blessed us with so many problems.
In demanding advances have to pay attention to the interest rate they have.
In addition, we will have to pay attention to incentives and rewards programs that offer the cards for our purchases, as well as additional rules and coverages, the discounts on travel, with many of them, or even discounts for when renting vehicles. If your credit history we have is bad or does not exist, surely compel him to first have a good profile to give a card with these characteristics.
In short, how to choose the best credit card for you, the key is to according to your individual needs and way of life. When applying for a card the best we can do is well studied and compared, taking into account our possibilities and our income, and therefore there is no better way to use a calculator like the cards we have in Capitalist. If you are a person who tends to drag debts, convenient is to request a card with low interest rates, which eventually will be felt in our pockets.