How to Find The Best
Credit Card for You
As you probably already know, there are a number of credit cards out there. However, the one you choose should be able to reflect your ideal spending and lifestyle. Despite the bad rap they have, credit cards can be one of the most precious assets in your wallet. They can provide identity theft protection, rewards and cash back, travel insurance and countless of other benefits depending on the card type you have. This article will outline some tips on how to find the best credit card for you.
Why do You Need a Credit Card?
In the first place, the question you need to ask and answer yourself is actually why you need one. You may choose to get a credit card for cash flow purpose. With such you can buy things and make purchases, leaving paycheck or other sources of income in your bank to draw interest. Your money will still continue to grow while continue purchasing the things you need in this way.
You may also choose to get a credit card for the purpose of instant cash. You can use your card to get instant cash from an ATM, which is great for extended vacation and going for great distance. If this is your purpose, the one with lowest cash transaction cost will work for you.
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Incentives
Some credit cards that will give you incentives in the form of reward points or even cash backs that can allow you pay what you owe towards payback. Incentives are different according to different credit cards, all that you have to do is look and compare them.
Annual Percentage Rate
This is what you will pay after the incentive period runs out on what you purchase. The rate will vary according to the different type of credit cards. It is upon you to shop around and choose the best that works for you.
Minimum Payment Amount
Most of the credit cards minimum amount will start at around 3% although some can be a bit low or slightly higher. The period that you will have for interest-free is also a concern since you should want to have the longest period possible.
Conclusion
If you are out there trying to shop for the best credit card for you, try not to limit your options too early. There a lot of different forms that vary when it comes to travel rewards, percentage rates, among other factors you may want to experience. Also, take advantage of the internet and online comparison sites.
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