Which Credit Card Is Right For Me?
Which Credit Card Is Best For Me?
Credit cards have become a necessity and there are numerous credit card suppliers who issue literally thousands, if not millions of cards each and every day. But which is the best credit card for you?
Credit cards are a safe, secure and efficient alternative to using cash. This is especially so since Chip and Pin has now become an important feature of the modern day credit card.
It is also worth noting that credit card companies are only too keen to attract your business. Don't be afraid to shop around to secure the very best credit card deal from the wide range of rewards schemes and incentives being offered, before deciding which credit card you should settle for.
The answer to which credit card is right for you is firstly, to
ask yourself what purpose your credit card will serve? Only then will you be able to identify which credit card card can fulfill those needs or personal circumstances.
When you look closely at the fierce competition among credit card suppliers, you will see that they offer numerous and often generous incentives to attract your attention, in expectation of retaining you as a customer. Choose wisely and you can bag yourself a good credit
Credit card incentives and credit card offers come in many shapes and
forms; these include:
0% interest credit cards
Low Interest credit cards
Credit card reward programs
Frequent air flyer miles credit cards
Credit cards for bad credit
Business credit cards and much more
How To Decide Which Credit Card Is Best For Me
In many ways, a credit card can been seen as a 'flexible friend'.
Apart from the fact that they are accepted worldwide, credit cards
offer numerous incentives and benefits.
Deciding on which is the best credit card is down to personal
choice. There are a wide variety to choose from, all of which will vary in terms of the credit limits they set and the repayment
terms they offer.
Choosing the right card for you will largely depend on how you plan to use credit card credit. You will therefore need to give serious consideration to the reasons you will be using credit cards before you decide on which is the best credit card for you.
You may for instance want to spread the cost of any purchases you make over a longer period of time, rather than pay back the full balance when it becomes due each month. In this case, you will need to give careful thought to the interest rate you will be charged on any outstanding balance.
You might well have secured a good credit card deal at the outset but when the low interest rate period expires you will be back to paying a higher rate on any debt balance you have accrued. That is, unless of course you shop around for one or more low rate credit cards or 0% interest
Alternatively, you might simply want to use your credit card for every day spending, choosing to clear the balance in full when you get paid at the end of the month. Not only does this afford you a greater degree of convenience and flexibility, it is a far safer option than carrying cash around.
Here is a brief overview of some the most well-known credit card incentives and what they have to offer. It will help you to assess which credit card is the best credit card for you.
Which Low Interest/0% Credit Card
0% credit cards or even low interest cards are good options that either
allows you to borrow money for free or at a very low rate of interes; provided of course that you pay the minimum payment. These tend to be limited to a fixed term from 6 to 12 months, after which you will be charged a higher rate of interest.
Aim to repay any outstanding balance before the 0% or low interest
period is set to expire. Your decision as to which credit cards will meet your needs, whether low or 0% interest is purely down to which credit card offer you the best deal over the best
If you are an existing credit card holder, you can benefit from low interest rates or 0% balance transfers by moving your existing debt over to another credit card. Again, your choice of which credit card supplier you transfer your balance over to, will be influenced by the rate of interest you are expected to pay.
Thinking in terms of which are the best credit cards for balance transfers, bear in mind that more recently, some credit card suppliers have stopped offering low interest rates and 0% credit card balance transfers, in favour of low interest on purchases
only. What this means is, that if you do a balance transfer, you will only benefit from low interest on any new purchases and not
on the transferred balance.
The content on this site is purely for information purposes only and is not intended to replace your seeking professional financial advice.
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