Nearly all of us use credit cards on a regular basis, and many of us could always use one more. Getting that best credit card, however, is not something that you just happen to come across, but you can get some real good deals, these days. So, before you sign-up on the next credit card application you receive in the mail, here are a few things you need to look for – otherwise you may not be getting quite the deal you thought.
In order to get that better deal on your credit card, you need to take a couple of minutes and think about on which of the following categories of items you regularly spend the most money.
3. Business expenses – office, travel, etc.
4. Food, medicine, and gas
5. Other travel expenses – hotel, car rental, etc.
6. Vacations, sightseeing, etc.
After you think about this, and choose one the closest categories that describes your primary use of the credit card, then you are ready to look at the various credit card offers, and choose your best credit card. Here are some things to look at in order to make the best choice.
Credit Rating Needed
Most of the online credit card ads will show you the level of credit that you need in order to successfully apply and get the card. Make sure that your own credit rating is good before you apply for one of the best cards. If you are applying for a business credit card, then you may need to know that the lowest rated user of that card could affect the overall business rating.
This is an especially good feature if you have any other credit card debt. It allows you to transfer your existing credit card debt, for which you may be paying high interest, and allows you to move it to the new card and pay no interest for the period of the introductory offer. Be sure to read the fine print on the potential new card because some of them will charge up to 4% of the amount transferred. Many card companies will do this for free – in order to get your business.
0% APR Interest
For the length of the introductory offer, you may have 0% APR interest on some or all of your purchases. You will also want to look at the details on this, too, since it may not apply to every purchase. The time length of the introductory offer will vary anywhere from 3 months up to 15 months. Remember that you are trying to get the best credit card deal, so do not settle for an offer that is less than what your credit rating will allow.
Later on, after you get the card, remember that the 0% APR will run out eventually. At that time you will either need to make sure that your monthly balance is paid on time, or get a new card.
Credit Card Rewards
The last feature you want to look at (which is usually highlighted the most) is the rewards that any particular card offers. If it is an airline card, then the incentive is often a large amount of air miles. If you are looking for an air miles rewards credit card, then be sure to find out not only how many free air miles they are giving at sign-up, but also discover how many miles are needed for your first free trip, too – it could be a real eye opener.
Other offers are extended to some student credit cards – they will even give some rewards to those that have good grades, and may be used to build up your credit rating, too. The highest cash back rewards on these types of cards are usually given to purchases of gas, food, and medicines.
As you look at the rewards, be sure that it will make a real difference in savings for you in the areas that you need it most. The best credit card for you is the one that meets all these criteria, and also allows you to have something to look forward to each month in the way of savings or rebates.