Choosing Your Credit Card
As you probably already know, there are many credit cards out there. The one you choose however, should reflect
your lifestyle and your ideal spending amounts. If you are looking for the best possible deal and the best company
for your credit card, you’ll obviously need to look around at what you have to choose from and what works best for
The first thing you’ll need to decide when choosing your credit card, is why you need one in
the first place. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make
purchases and buy things, leaving your paycheck or other source of income in your bank account to draw interest.
This way, your money will continue to grow while you continue to buy the things you need. Then at the end of the
month, simply pay your bill.
Others will choose to get a credit card and use it for instant cash purposes. This way, they can use their
credit card at an ATM and get instant cash, which is great for travel or going on a long and extended vacation. If
this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash
With a credit card, you’ll also need to think about the payments. You’ll need to decide if you want to pay the
balance in full each month, or only the required amount. When you select your credit card, you should look at the
introductory rates, balance transfer rates, and other offers that may apply to new credit cards and new holders.
Some will offer you truly amazing deals, especially if you have good credit.
Another important area to look at when choosing your credit card is the incentives. There are several cards out
there that will give you incentives, such as reward points and even cash back with purchases that you can use
towards paying back what you owe. There are several incentives out there with credit cards, all you have to do is
look around and compare.
The key area you’ll need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will
pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is
always in your best interest to compare and shop around. The lower APR rate you get, the better off you’ll be.
Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will
start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is
a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.
When you make that final decision and choose your credit card, you should always make sure that
you know exactly what you are getting. Credit cards are great to have, although they can lead to a downfall if you
don’t choose them carefully. If you put some time and research into choosing your credit card, you’ll find the best one for you. As long as you
take care of your credit card and pay the bill on time, you’ll help raise your credit and eventually be able to
purchase even bigger things - such as a car or even a house.
Credit in Minutes Tip #1
Stay on top of your credit report. Most credit reports contain errors. Make sure you check your credit report
every year (you get one free credit report every twelve months) and if there are errors make sure to challenge them
with the reporting credit agency. Credit agencies are required to investigate each and every challenge that gets
Credit in Minutes Tip
Just because you qualify for all of those credit cards does not mean you should get them. A person with too many
credit cards looks sketchy in the eyes of a potential creditor. Think of it this way: if a person is financially
stable does he or she need ten different credit cards? Wouldn’t just one or two suffice?
Credit in Minutes Tip
The best way to raise your credit score is to make all of your payments on time. It sounds too simple to be
true, but that’s all there really is to it. Staying out of debt and/or making all of your debt payments on time
will keep your score up where it should be.