If your finances are in order, choosing a credit card is a little like being the Belle of the Ball–you won’t find it hard to get noticed. But even if your money matters are more muddled, you’ll still probably find companies looking to court your business. Either way, be selective–picking the right credit card is of significant importance.
Make sure you know the credit card companies’ respective policies on interest rates, fees, consumer protection features, and so on. Not all cards were created equal, so it’s key to match the right kind of card with its intended use. If you’re going to be charging a lot of business expenditures and you’re likely going to carry sizable balances from time to time, look for cards that make sense with regard to minimum monthly payments and such. If you drive long distances for work, find a gas card tailored to your needs.
Whatever your goals, DON’T just go with the first credit card that comes through your mail slot. With the passage of the CARD Act of 2009, there are now a number of added protections for consumers with regard to hidden fees, misleading or shifting rates, etc. Still, even with some changes in law, finding the right card for you can be tricky.
Be choosy. If you’ve fallen behind on bills owed to charge card companies before, it may feel like you’re working for them, but the opposite is true. Remember: you’re the customer…so buyer beware!
Check out these tips on finding the best card for your situation from the Quizzle blog and beyond: