Choosing the right Credit Card

Posted by Jason on Friday, September 26th 2008

26
Sep

As a regular credit card user, I can very well understand those times, back in the day when there was no such thing as a credit card. I can’t imagine leaving my house, without having a credit card in my wallet. After using credit cards for so many years and remembering experiences shared by some people in my life, I have learned some useful tips for choosing the right credit card. And as you can see I am generous enough to share these tips with you

What is the interest rate?

Always look for a credit card with a lower interest rate. If you have similar habits like me, you might be postponing the payments to the last days of the month. Believe me, you need to have a low interest credit card to match your not-so-good habits.

Cash Advance Facilities

Does your credit card offer cash advances? What I mean is that some credit card companies go beyond their munificent nature and offer cash against specified limits. Always look for such cards and you will always have that spare cash handy.

What is your company charging?

It is necessary to watch out for different types of fees charged a by a particular credit card company. Some of these include:

Penalty on late payments made by you.
Service charge on every withdrawal of cash from an ATM
Interest rate charges for the time period of usage
Annual service charges and membership fees.

It is good to research different credit card companies on the basis of these charges and see which one will best suit your usage habits.

Are you a supported customer?

Always look for customer support services offered by the company. With a number of credit card companies mushrooming on the surface, customers are being served way better than before. Thus, you must lean towards a company offering better customer support. Also look at what support they offer incase of theft.

What else do you need to know?

Apart from all those tips mentioned above, here are other tips as a bonus for my valuable readers:

You must talk about the length of grace period with a credit card company.
If you travel, you must make sure that the card is accepted across different geographical locations. Also, obtain the list of ATM locations established by the credit card company.
The company might be willing to offer you with free credit report, so that you are able to maintain the track of your credit history.

As a last piece of advice, it is recommended to look for reviews shared by credit card users and act according to their suggestions. When I choose a credit card, I was helped by a number of people online.

22 Comments Already

Online Consumer Credit Counseling Said,

September 29th, 2008 @5:28 pm

I recently purchased a credit card for emergencies. I chose Visa - my friends and family said they have the best fraud protection and anti-identity theft security. I don’t plan to use it unless I absolutely have to. Does anyone know if there is a card with a better interest rate out there?

Colin Boyd Said,

October 3rd, 2008 @2:38 pm

When you are overwhelmed with repayments against numerous personal or business loans all having different amounts that need to be paid on specific dates you need to roll your all your loans into one with one convenient repayment every month, this is called debt consolidation. This becomes all the more important if you find yourself in a position where you can’t financially meet all of your loan obligations. In such a situation you may find a personal loan consolidation to be a life saver.

stock market pundit Said,

October 10th, 2008 @9:45 am

Always talk to your credit card company. If you can’t pay the minimum tell them what you can pay and they will work with you. Just avoid paying late.

book Said,

October 11th, 2008 @5:22 am

It is very important matter. Otherwise most of the people just regret for ones credit card.

buy essay Said,

October 11th, 2008 @5:07 pm

I recently purchased a credit card for emergencies. I chose Visa - my friends and family said they have the best fraud protection and anti-identity theft security.

Niccolo Svengali Said,

October 13th, 2008 @11:25 am

6. Ask yourself: Am I a comple fool when it comes to money?

If yes, do not proceed further.

California Business Training Said,

October 15th, 2008 @1:26 pm

Thanks for the advice. I’m in my sophomore year of college and was just told I have no credit history. I’m going to try to get a credit card to use for emergencies. Does anyone have any suggestions as to which type of card I should get? I’ve heard Visa is pretty convenient.

Ice Rabia Said,

October 16th, 2008 @5:12 am

it is true. Credit card is widely used. But in owning a credit card, comes great responsibility. There are times your swiping can get offhand. Thats what happened to me. Now I am paying off huge amounts of credit card debts. And I learned it the hard way.

Roger Hamilton Said,

October 17th, 2008 @8:15 am

Thanks for sharing with us on how to choose the right credit card! Some people might regret it when they chose a wrong one.

Car classifieds Said,

October 18th, 2008 @10:23 am

Always talk to your credit card company. If you can’t pay the minimum tell them what you can pay and they will work with you. Just avoid paying late because the interest rate is big.

Kaka Said,

October 18th, 2008 @12:59 pm

I disapointed with my credit card

Armen Shirvanian Said,

October 19th, 2008 @3:57 am

The penalty on late payments sure is a factor to clearly go over with the individual that sets up the credit card. Also, one should think about their limits and budget accordingly.

Press Said,

October 19th, 2008 @1:19 pm

Thanks for the advice! It’s good to have an impartial run-down on an important matter like credit cards

LCD enclosures Said,

October 22nd, 2008 @3:50 am

Be careful if you take card protection out, as this is something I have found out recently, the amount you pay every month increases with your outstanding balance, so if you owe $5,000, it’’s greater than if you owe $500!

Then if you cancel it, you have to wait a full calender month, so they can get another month out of you, and boy do they pressure you to NOT cancel it!

Tony Bradley.

Left Hand Drive Cars Said,

October 24th, 2008 @10:18 am

I recently purchased a credit card for emergencies. I chose Visa - my friends and family said they have the best fraud protection and anti-identity theft security.

Movies Said,

October 29th, 2008 @7:50 am

I haven’t had any problems with my credit card, but this information is very useful for me

carla Said,

November 1st, 2008 @4:52 am

I am considering taking a credit card but I think taking this can just lead me to spend too much. And also some credit cards has a hidden charges that you will just discover in the long run. It is useful to some other point but It can also make you dependent out of some benefit it might give.

willb-dog training Said,

November 4th, 2008 @7:01 pm

I have written the similar post on my own blog but I missed a lot of stuff(I realized it after reading your post). I think increasing number of CC companies are making it tough to make some decision.

Beth Pallet Said,

November 6th, 2008 @12:19 pm

I never take out the protection things they offer on cards, 9 time sout of 10 you cant claim or they manage to get out of following through on the policy anyway! Waste of money if you ask me

bedava oyun Said,

December 28th, 2008 @9:14 am

Credit Cards sometimes dangerous in my country you must be carefull if you spend

Web Design And Development Said,

January 1st, 2009 @5:46 am

Hi,
This was a very useful infomation. But there are two major credit card providing companies : Visa and Master Card. I want to know which one of them is more globally accessible?? Hope to hear soon from you….

Web Design Company Said,

January 3rd, 2009 @4:54 pm

This does not seem to be the best of times for new credit card accounts. Due to creadit crunch, the APr seems to be on a higher side. Credit card companies are much more cautious.