When you are shopping around for a new credit card, it is always to know as much as you can about credit cards so that you can ensure you are getting the best possible deal for yourself. There are hundreds of types of credit cards, so how can you be sure which the best fit for your life is? Would you do better with a reward program card, or maybe one with low interest? When you compile the different types of cards together along with our five tips on how to pick the best fit, you will feel more confident after you have made your newest financial decision.
The internet is a vast well known world that has a whole lot of information, especially customer reviews and critics who are sure to get their words out to the public somehow. There is one special tool that was created by world renowned search engine Google, which helps show the different types of credit cards side by side, showing interest rates, rewards, and other major factors that need to be brought into your decisions. Google is not the only website, so if you cannot find what you are looking for, do not give up… keep researching until you have the information that you need about credit cards.
Different types of cards come to you with different types of protection, whether you paid extra or it is simply a standard feature with your company. You could have theft protection, extended warranties, and non-delivery protection. These are all very important in their ways, and should be taken into consideration when you are researching for your best fit credit card. However, it is okay to be picky on what protections you will receive; look for some that will fit your life style. For example: if you travel quite often for work or leisure, you might find it accommodating to purchase a credit card that comes to you with travel insurance. Even though this may sound too good to be true, you should always read the fine print included in the information to see exactly what you are getting in to with this credit card, and what exactly the card offer entails.
Freebies Are Not Worth It
We know that free t-shirt or pen can be very enticing, but more than likely when a company has to distract you with free items, it is not because they value you as a customer; it is because they are moving your attention to the good so you do not realize the bad. Becoming sidetracked by free stuff is just another way of credit suicide.
Unless You Have Zero Debt, Be Careful:
When looking at rewards cards, they can seem so beneficial and like the right type of card for you. Wrong. You may really benefit from this offer from this card; or you may sink down into debt with high interest rates. When you sign up for some type of reward plan, it is best to do it when you have no debt hightailing behind you, or you will face severely high interest rates. When you have debt, you need to know all about interest rates and credit cards to ensure you will not increase your debt over time.
Even if it is written in black and white in front of your face, it can probably be tweaked to better accommodate your needs, or even negotiated to better enhance your finances. If you have always had great credit and little to no debt, the company may be willing to work with you on your payments and interest rates. It never hurts to ask, and you will never know until you try. The more you know about credit cards, the more they will respect you. You just might score the credit card deal of a lifetime when you reach out to the company and ask about how much leeway they will give you for being such a good and prompt customer over the past years.
There is nothing wrong with signing up for a credit card that has extra rewards, or even that has a company that is giving you freebies, that is great if the terms are correct and you understand what you are signing up for. No one likes to be hit at the end of the month with hidden fees and confusion on how in the world they owe that much. Debt is a big factor that comes into play when deciphering between credit cards. Create a long term plan to pay off your debt so this will no longer be holding you back when you are looking to get lower interest rates and payments. Always be careful when dealing with companies and ensure you know as much as you can about credit cards to make sure you are getting a great deal for your lifestyle.