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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I did not know any of this. I mean, I would see this information plastered on the back of the forms that credit card companies would send me but I didn’t really understand what they were talking about. So glad I read this.
sonds good
no one should have a credit card without a steady income period. if you get a credit card without that steady income, you are setting yourself up for failure in so many ways!
I agree!
1 – I have a Citi-Bank Diamond Preferred Rewards Card
2 – I charge everything I can on it (also Electric Bill I pay online & other bills online)
3 – But I Do NOT charge so much that I can't pay it off when due.
4 – Balance is Always paid monthly & I pay NO FEES
5 – I GET REWARDS – like a Walmart Cash Card (there are others I can get), Have also gotten Restaurant cards, (I usually get Walmart Cards & use them to Buy GAS…)
my name is Asyia Ashiq
It helps me alot.
There are great tips! I always wondered how to make a wise choice when getting a credit card. Thankfully I had someone teach me how to use my credit card so I have zero credit card debt.
that is a good idea
well so far i have my own bank card under my mom but once im ready ill be well aware
I never knew what the whole APR rates meant, but this has helped me out some.
Great info!
I'm glad to know this info for when I actually decide to get one I'll know where to start.
it's dangerous to use the credit card because u will be in debt if u can not control yourself
this is very cool especially for young people like me
am Albert from ghana how can you help me
I'm loving these tips. They're so helpful. I never even knew this.
i can't get a credit card yet, everywhere i apply they decline me because i don't have credit
I have a US bank, Visa credit card
Vital Info!
sounds good
i dont think im going to get a credit card…
Great tips!
That reminds me that I have to close my credit cards with annual fees.
yap, that's good idea
this is really interesting! its good to know this tips =]
This offered some valuable information!
cards smards who needs them when you have cash