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Get the best credit card

Most of us have at least one credit card but usually we have more. So, a matter of choice the best one is a topical today. This article is aimed to help you make a correct decision.

Firstly, you should decide for which purpose you need a card. The range of cards includes: balance transfer, purchase, reward, retail, low rate, etc. Of course, it would be better to have different cards to meet all needs.

To find the appropriate credit card you should take into account a few points. Find out the issuer of the card and decide whether it is reliable. Another important moment is presence of restrictions. Usually restrictions includes: age of cardholder and relevant credit score. Give preference to protected cards. Check the insurance of the financial institution, for example FDIC.

When you decide which one to choose, it is necessary to consider every detail of the card. Check it according to the list below:

  • Annual percentage rate. It is annual percent of money you must pay and includes different fees and additional costs. Compare the APR of cards and select the cheapest one.
  • Benefits. Mostly, it is not the most important factor. Of course, if you do not choose a reward credit card. However, such bonuses are pleasant for everyone. The reward program provides points for every purchase you make with a credit card. However, there is exists a range of bonus sizes according to the kind of purchases and credit card. As a result, some credit cards more suitable for travel while other for daily purchases or business usage.
  • Interest rate. This aspect directly depends on your credit history. Those who do not have a great one can not expect for a low interest rate. Also, you should be aware of the interest type, because some cards charge you from the purchase, while others charge money from the billing date. Improve your credit history to obtain lower interest rate.
  • Fees and charges. Learn all about fees and charges a credit card has. This simple action can protect you from any trouble with hidden fees and other surprises.

Then you must apply for a credit card you chose. You can do it in three ways: by mail, by phone or through the Internet. A lot of users who are pre-approved receive offer letters from banks. But pre-approval does not mean that you have all chances to be owner of the credit card. So, apply if you meet the requirements of the credit card.

Follow the tips given in the article and get a credit card you deserve.