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Four Tips for Choosing the Ideal Credit Card

tips for choosing the right credit card
Written by Ben Davis

When you have the right credit card, you’ll never have to worry about carrying cash around with you again. It gives you an additional sense of security and access to money whenever you need it the most.

As you probably already know, there are many great benefits to getting a credit card.

Some of them will provide you with cash back on purchases, others have valuable rewards programs to take advantage of, and some provide airline mileage. Ultimately, you’ll have to choose which option best meets your needs.

To help you pick the ideal credit card, we’re going to share four tips with you today to make the credit card selection process much easier.

  1. What Credit Card Benefit Are You Looking for the Most?

Before picking a card, you need to figure out which type of reward will provide you with the biggest benefits on a personal level.

As an example, if you happen to be somebody that travels a lot for work, you may run into more vehicle maintenance and gas expenses than the typical person. Plus, you might even have to pay for lots of restaurants and hotels. On occasion, you may even need to take flights as you travel.

Depending on your situation, you could either benefit from an airline miles card, a gas credit card, or a driver’s credit card. So figure out where you’re spending the most money and choose your benefit from there.

  1. Run Your Credit Report

Credit card companies decide whether they are going to give you credit based on your credit report. They also decide how much interest they are going to charge you based on the same report.

So, if you want to get the lowest possible interest rate on your credit card, it makes sense to fix any and all errors that are on your credit report to help raise your credit score.

Take some time to look over all three of your reports, not just one of them. If you do locate any errors, make it a point to dispute these errors with each of the three credit bureaus.

By doing so, you may be able to get the negative blemish removed from your credit reports, and this will ultimately raise your credit score and help you qualify for a lower interest rate when choosing a new credit card.

  1. Pay Attention to Potential Credit Card Fees

As you may already know, certain credit cards are going to charge annual fees and others will not.

In some cases, it may be worthwhile for you to pay an annual fee because these cards typically provide much better rewards. You’ll have to weigh the pros and cons in this situation to determine if it’s worth it to pay a fee or not.

On the other hand, if you’re just trying to get a basic credit card, you really shouldn’t have to pay an annual fee. This is something to keep in mind as you look at all of your potential options.

According to The Points Mom, a website sharing a breakdown of the best credit card rewards programs, the author said “They made me an offer in which I need to use the card for five purchases of $20 or more over the next three months. If I do this, Citibank will credit the $95 fee.”

  1. Think About Additional Credit Card Benefits

Are there any additional credit card rewards and benefits that you’d like to get from your new credit card?

Maybe you’d like to transfer your balance from one credit card to another. A good benefit in this case would be a 0 percent APR on balance transfers for up to one year.

At the end of the day, you should look at all of the potential credit card benefits by locating them online, and then determine which ones best meet your personal needs.

Conclusion

Please use these four tips to choose the ideal credit card the next time you apply.

About the author

Ben Davis

If hard hitting, factual news is what you are looking for, only Ben Davis has it.

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