Best Credit Cards

 Best Credit Cards

Best Credit Card

What is the best credit card for me?

Today's consumers are presented with a wide array of credit card choices -- cards with low annual percentage rates, cards with no annual fees, rebate cards, gold cards, platinum cards, etc. So, how do you choose the right card?
 
Here are some factors to consider:

Your Credit History: This is the most important factor in determining whether or not you will receive a credit card. If you have excellent credit, it is likely you will be approved for any credit card you apply for. But if your credit is 'so-so', or poor, you must be more careful in your credit card selection.

Platinum, Titanium, Gold, or Classic?
As a rule of thumb, Platinum and Titanium cards are normally reserved for individuals with excellent credit. If you have good credit, you may be able to qualify for these offers, but you are more likely to be approved for a Gold or Classic card. With increasing levels of status, individuals receive increased benefits such as and higher credit limits and lower APR's.

Secured vs. Unsecured
For individuals with poor credit, or no credit, several types of credit cards are available. These cards are an effective way to establish and improve your credit history.
Secured credit cards are available to most individuals. They require a security deposit (normally between $150 and $300) to receive approval. Unsecured credit cards, on the other hand, do not require a security deposit. Both normally have higher rates and additional fees as compared to standard cards.

Prepaid cards are also available as an alternative for those with poor credit. They operate on a 'pay as you go' basis and boast Guaranteed Approval!

* Tip: Apply for an unsecured credit card first!

How is your credit? Please visit our freecreditreport.com section for more information on credit reports and find out how to get a * FREE copy of your credit report online. >>>

Your Spending Habits: When choosing a credit card, consider how your will use the card. Will you pay off the outstanding balance in full each month, or will you carry a balance?
If you carry a balance, you'll probably be more interested in a low APR credit card. On the other hand, if you always pay your monthly bill in full, and reward offers such as frequent flyer miles don't interest you, your best choice may be a card that has no annual fee and offers a longer grace period.

Your Specific Interests: Do you do significant amounts of traveling, use a specific brand/service, or shop at a specific chain of retail stores?
 
Many credit card issuers will allow you to earn rewards for your devoted service.

Travelers: If you are a frequent traveler, many companies allow you to earn bonuses to benefit you. Frequent Flyer cards also known as travel reward cards allow individuals to earn free air travel with every purchase. Other offers such as gas credit cards allow you to earn free gasoline, or earn credit towards automobile purchases.
Shoppers: If you are a frequent shopper, or prefer a certain retail store or brand of products, many companies allow you to earn cash rebates when you make purchases. Cash Rebate also known as cash back credit card offers allow individuals to earn cash back on all purchases made. In some cases, they offer increased incentives for purchases on certain products or brands.

Below you will find a sample of the Best Credit Card in each category: