Best Credit Cards For The New Breed Of Consumer
There are many credit cards companies who want to entice you to sign up for their best credit cards. The only problem is that not all of these companies will offer you the best deals or the best perks. It will be very important that you know which credit cards companies are the best to go directly to when you want to get credit cards with no hassle. Here is what you need to look for in credit cards.
Cash Back: The cash back rewards can be a good perk for those who prefer to get rewards in the form of cash rather than points. You will only find this type of reward in the top 7 best credit cards. Any card that offers an option to get cash rewards should be considered. If you have a monthly bill payment, this can be one of the best credit cards to go for.
Balance Transfer: Another thing that you should look for when you want to go for the best credit cards is the lowest interest rate. Balance transfers are very popular with cardholders since it can help them save a lot of money. This is also one of the easiest things to do. Just go for the cheapest credit card that you can find and transfer your balance to it once you have paid off your balance. You should see instant savings in your expenses.
Offers: Different credit card companies offer different incentives to cardholders. They vary from rewards, interest rates, etc. When you want to go for the best credit cards, make sure to consider the following factors:
Credit Card Interest Rate: This factor is perhaps the most important one. It will determine how much you will end up paying in interest. Most credit cards will offer you a low interest rate if you maintain your payments. Hence, it is imperative that you look for the lowest possible credit card interest rate and fees information at all times.
Cash Back Reward Programs: You should consider cash back reward programs when you want to go for the best credit cards. Most credit cards today offer some form of cash rewards when you use your card to purchase merchandise or services at certain stores. You should first consider the annual percentage rate or APR of a particular card before you decide to apply for it. The first three months of cash back rewards programs should not be too much because it will only help you get started.
Account Opening Fee: The opening fee for credit cards is also an important thing that you should consider at all times. You should never forget that this is a fee that is being charged just to open your account. The account opening fee varies from company to company so it is best that you get as much information as you can about it before you decide to apply for one. The best thing that you can do is to shop around for the best deal and once you have found the one that suits your financial needs, you can apply for it. Account opening fee is one of the most important factors that you should consider at all times when you are looking for the top 7 best credit cards.
Annual Percentage Rate: APR is another factor that you should consider when you are looking for credit card offers. This percentage is a calculation that is applied to your monthly payment and it represents the amount of interest that you will pay over a given period of time. This can be confusing so it is best that you look up some information on APR before you go directly to the application form. The introductory periods that most credit cards offer usually last for the first three months but you should always remember that if you go directly to the application form, the APR for your purchases will be lower. Hence, you should not only calculate your interest payment but also compare it with other offers you have received so you can choose the best one.