Finding The Right Credit Card For You Is As Easy As 1,2,3

Preferred Type of Credit Card?

How Much Do You Spend Monthly?

Do You Carry a Balance?

Compare Credit Cards to Get the Best Deal

Just about every adult in the United States currently has or has previously owned a credit card of some type. Credit cards are convenient and more secure than cash. If you are currently shopping for your very first credit card or you’re just looking for a better one here are a few tips on how to compare credit cards.

Compare Rates

The annual percentage rate (APR) is going to vary with each credit card. Even credit cards within the same company could have very different rates. You want to get the absolute lowest possible rate and this is especially important if you plan to carry a balance from month to month. If you don’t plan to carry a balance, it’s still a good idea to shop for the lowest interest rate in case you need to carry a balance at some point in time.

Compare Fees

It’s just about impossible to find a credit card that doesn’t charge some type of fee and many cards will carry several different fees. One of the most popular fees is the annual fee, which is basically a fee that you pay just to be able to use your card each year. Sometimes it’s broken down into smaller monthly payments but it’s still part of the annual fee. Other fees likely include late payment, over-the-limit and balance transfer fees. While most credit cards will have these types of fees, compare credit cards to find the card with the lowest fees.

Compare Grace Periods

A grace period is a window of time where you won’t have any interest charged for the balance you are carrying. This is generally anywhere from 20 to 25 days. You will have time to pay down your balance before getting charged interest so compare credit cards to determine what kind of grace periods they come with and watch out for those that don’t offer them at all.

Compare Credit Card Companies

Once you have a list of a few potentially good credit card choices, compare the companies. Try to find reviews online from previous and current customers to see what their likes and dislikes are. Many people don’t take the time to do this and end up wishing they had. Reading reviews can really help you weed out the companies that consumers seem to really like and those they wish they had stayed away from.

It may be a time-consuming process to compare credit cards but you’ll be happy you did. You’d be surprised by how much money you can save by shopping around. You already know this to be true when you’re shopping for things like clothes, vehicles and other items so you should carry that over to shopping for credit cards as well.

Related Information:

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  3. How to Deal with Sudden Credit Card Interest Rate Increases If you are one of the millions of Americans who have recently seen your credit card interest rates increase sharply then you can at least take comfort in the fact…
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