How to Find the Best Credit Cards
Finding the best credit cards in today's world can be a bit
challenging. Although you may receive hundreds of credit card
applications in your mailbox each year, not all of them are
worth your time and energy. To find the best credit cards, you
should use a general checklist when examining each application.
By using this checklist you can guarantee that you know exactly
what type of credit card you are applying for and what to expect
after you are approved.
Fees
Many people sign up for credit cards without realizing they may
be overlooking hidden charges. Credit card companies have the
right to charge new cardholders a one-time enrollment fee. This
fee can cost as much as $40 in some cases. Most of the time this
fee is only explained in the tiny print on the back of the
application. With most applicants neglecting to read all of the
print, they never know about the fee until the first bill
arrives. Another fee that many credit card companies charge is a
monthly or yearly cardholder fee. This fee is one that is
automatically charged to your credit card each month or year. It
is in addition to any finance charges and other fees. It is
simply a fee that you pay to have the credit card. Even if you
do not make any charges for the entire year, you will still be
charged this fee. The best credit cards available are those that
have no fees. These "no fee" credit cards can be found if you
look and read the applications carefully. Many credit card
companies are even beginning to advertise themselves as being
"no fee" companies. There is no reason you should pay
unnecessary fees when you can get other the best credit cards
without fees. So, be sure you are reading the fine print and
asking questions before you get a new credit card.
Interest Rates
Anyone who has ever had a credit card knows about interest
rates. The best credit cards are those that have a low interest
rate. Many credit cards will charge up to 21% interest on all
purchases. This makes it very difficult for many cardholders to
ever pay off their credit cards. The best credit cards have
interest rates lower than 15%. Some credit cards will even allow
you a lower interest or no interest on purchases paid off in
less than 30 days. It can certainly be to your advantage to use
these options some of the best credit cards offer. If you want
to try to get your interest rate lowered, simply call your
credit card company and request a rate change. If you have been
a good cardholder then companies with the best credit cards will
take your request seriously. Remember, the best credit cards are
not necessary those with the highest spending limit. There are
other behind the scenes factors you should certainly consider.
Hidden fees and high interest rates can haunt you and your
credit for years. Be sure to check these things out before even
applying for a new credit card. You will be glad you researched
the best credit cards and your pocketbook will be glad as well.