3 Tips for Picking a Credit Card
If you’re in the market for a credit card – be it your first or not – the complexity of picking one can be overwhelming and pretty confusing. There are tons of different features and benefits in play such as Purchases APR, Balance Transfer APR, annual fee, cashback, etc.
Let’s outline a few basic rules to make the process easier and less stressful for you.
1. Lower APR is always better.
Don’t be fooled by the APR “ranges” that are listed on credit card offers. Always find out exactly what your APR would be before committing to a card. Ideally, you want a Purchase APR lower than 13%.
2. Avoid annual fees like the plague.
In 2010, if you find a card that has an annual fee on it, just toss it out. Seriously. There are so many credit card companies gunning for customers that there is no reason why you should have to pay THEM an extra fee on top of the interest that already will be capitalizing on your purchases.
3. Don’t get blinded by introductory offers.
0% APR for 6 months! 0% APR for 12 months! We’ve all seen those advertisements and tend to find them pretty tempting at first glance. However, you need to keep in mind that those offers usually exist to conceal something that will make them way more money in the long run – a high interest rate. It’s OK to accept this kind of promotion, just keep an eye on the APR after the promotion period ends.
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great read!
useful information
Great tips!
I wish I had done my research before I got my credit card.
Great tips. Will definitely keep them in mind when applying for a new card
This is actually interesting stuff!!
This stuff will certainly come in handy, I know. Credit is, of course, essential so knowing how to get good credit in an intelligent manner is always a bonus.
this is very useful for someone like me, and its so true
this was helpful
excellent information
this is awesome.!!
helpful info thank you
hoorah!
i agree..
thats nice to learn
thank you all
I agree and thanks for the advice. i will be using it in the near future.
thanks for good infos
Agreed.
great!
i dont like credit cards because they always seem to be trying to trick you.
but thanks for the info.
great tips. thanks for the information.