Choosing The Right Credit Card Deal

By: Joseph Kenny

When you are considering applying for a credit card you probably will have several offers available. The credit card companies will spend about a million dollars a year to send us their particular offers for credit. Trying to choose which one among them that is best for you can be a hard decision to make. Should you choose the first pre-approved offer and send in the application?

The best way to begin your search for the best card is to first decide what exact purpose the card will serve for you. After making this decision it would be a good idea to review all the offers you have and try to select the one that best fits your needs.

Some people use their credit card for an emergency only or to make a special purchase and then they usually pay off the balance immediately. Some people use their credit card to pay their monthly bills and to make other purchases and they will have carry-over balances month after month. Knowing whether you will use your card on a regular basis or if you will use it only occasionally will help you make the decision on which card best suits you.

Many cards have rewards and features that provide incentives to the cardholder to use their credit card for specific things in order to receive something in return. This can be a huge draw for most people but it can also be quite irritating if you have to pay off the balance completely to earn the rewards. If you take into consideration all the aspects of each card it will help you understand which card is best for you. The level of annual percentage rate (APR), the credit limit, and incentives like rebates, frequent flyer miles, and rental insurance are all common things to be considered when deciding which card is best for you.

The credit card companies offer three types of cards and each card has its own specific features, price, and limitations and advantages. These three types are regular, premium, and security cards.

Security cards have very small limits on their credit lines, usually only $200-$300 and they also may require a security deposit to be paid by the customer. Regular credit cards are the most common type of card and they come with higher credit lines and there is no security deposit required. The regular credit cards sometimes offer some reward incentives. At the top of the line is the premium credit card also known as either a gold, platinum, or titanium card. It offers the most incentive features and has the highest credit line.

If choosing a credit card is something you may be doing in the near future, do not settle for the first offer you receive in the mail or read about while browsing the web. Keep in mind all the purposes you want this card to serve for you and then carefully check out all the features and incentives offered by several different card companies and compare them. If you proceed in this manner making your selection should be easy.

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