With the so many credit cards being offered to you, it can sometimes be overwhelming to choose the best one. Each credit card has its own advantages and disadvantages but no matter what these advantages and disadvantages are, there is always a way to find the best credit card that would suit all your needs. Finding the perfect credit card for you depends mainly on the following categories:
• You have a balance that you want to pay off.
• You don’t have any balance and you always pay your bills on time.
• You sometimes carry a balance and you don’t use one card for your purchases.
• You have no credit history and/or you don’t seem to qualify for any card.
Depending on the category your needs fall into, there are some things that you need to consider to make sure that you’ll be choosing the best card for you and for your needs. Here are some of them:
1. Paying off your balance
If you have a balance that you want to pay off, choosing a credit card with low introductory interest rate is a perfect way to pay your debts faster. Remember, though, that there are probably some perks that you would need to give up, like cash rewards or airline miles. If you fall into this category, you should look for new credit cards 2019
• The best interest rate
• A card without annual fee
There are also some things that you need to watch out for. These are:
• Rate Games
• Steep fees or penalty rates
2. You don’t have a balance to pay
If you fall into this category, the best credit card for you is the one that offers some perks and reward points that will allow you to earn airline miles, freebies and even cold cash. For this category, you should look for credit cards that:
• Gives a 20-day grace period
Since you are not carrying any balance, you should not pay any interest however, some cards have a short grace period and even though you are not carrying any balance, paying later than the grace period will require you to pay some interest.
• Low Fees
Since reward cards carry annual fees, it would be better to check if the rewards you’ll get from these cards outweigh what you have to pay for them.
To really make sure that you’ll land on the best credit card under this category, you’d better watch out for the following:
• Usage fees
These are the fees that you have to pay when you don’t use your card enough.
• Points expiration dates
There are some mileage programs with “use it or lose it” policy wherein the points you accumulate must be used within the year otherwise, these points will not be carried over into the following year.
• The credit card’s spending requirements