If you are looking to get the best deals on your credit cards, then you have come to the right place. In this article I will show you how to shop for the best credit cards and save hundreds of dollars per year. Are you ready? Let’s begin.
First, we need to look at interest rates. These are where the majority of people make the biggest mistake. They begin applying for a credit card with high interest rates. This is a big mistake. If you want to find the best credit cards, you have to understand how interest rates work.
The interest rate you should be shooting for is about 2%. There are exceptions of course, such as with student credit cards. If you have excellent credit, or you plan on owning the card for a long time, then you may want to shoot for an interest rate of zero percent. This isn’t the type of interest rate, we’re talking about though.
In general, the best credit cards will have interest rates that are just below 3% percent. There are exceptions, but these are the ones you want to avoid. Anytime you get a low introductory rate, you’ll end up paying that same interest rate for the next five years or more. That’s why these interest rates are so dangerous.
How do you know what card to get? Shop for cards that offer reward programs. See if the card offers with frequent flyer miles and other incentives for spending. Also look for a credit card that has no annual fee. If there is an annual fee, it is usually well worth it to get the zero rate card, since you won’t have to pay it off.
The main point is to take advantage of the lower interest rates and apply them to your purchases. For most consumers, this means gasoline. The key to finding the best card is to shop around. See what the credit card offers and compare it to other offers.
Another thing to look at is how you pay off your balance. You can get a zero percent interest card by just paying your bill on time each month. However, what if you don’t have a lot of money left over after paying your bills? If you don’t pay off your balance in full each month, you will accrue interest. The best way to avoid high interest is to pay as much of your balance as possible each month.
You also need to consider any extra services you might be offered. Many credit companies now offer toll free customer service lines for routine questions and concerns. Some of these lines can even help you with your application. If you are in a bind and need a quick answer, look into what options you have. You want to make sure you get the best deal available, so it is worth it to look around.
Keep in mind that not all credit cards are equal. Some cards will offer perks and incentives that other cards won’t. Take advantage of every option you can. These can include things like getting a percentage off your balance or a coupon for future purchases. Look at all the different offers available and choose the one that best meets your needs.
Always remember to check out the annual fee and balance transfer fees when comparing credit cards. These can cost you extra if you aren’t aware of them. There is also the risk of identity theft, which can happen if you don’t cancel your old card before the introductory period ends. Make sure the annual fee fits in your budget and isn’t too high. If you can, get a card with a zero percent introductory rate. You can then use this new credit card for anything you wish.
Remember that you need to be careful about overspending while looking for the best credit card. You also want to be careful about paying bills with your new credit card. This is where you must be very careful. If you are in debt, paying back your credit card is much easier than trying to make your payments on another source. The best credit cards will give you a low interest rate and will charge you only a small amount each month. Once you have paid off your debt, you should be able to increase your credit limit and take out a new loan.
You want to make sure you do not apply for too many credit cards because this will keep your credit score low. If you are looking for a card with a low introductory rate, wait until it expires. When you are looking for a card with a long interest free term, make sure the rate is reasonable. These tips will help you find the best credit card for your needs.