Which credit card should I have

Written by zhaotingting January 17, 2008 10:11

Credit Cards not only give you an advantage of not having to carry excess cash around, but also offer safety and flexibility in your financing needs. 

Best way to find an appropriate card is to search through the internet. You should keep some points in mind while finding the card. Try to look for a card that has the least amount of money that you require for your monthly expense so that you can easily pay the amount back when you have enough money in your hand. A credit card is free money for the first few days but you end up paying a lot more back, so try to keep this in your mind.

When choosing a card first look for the companies review. Ask other people about their personal experiences and their opinions about the cards they are using. Also, look whether it works in all the gas stations and shopping centers near you. 

You should look for the annual percentage rate or APR, a financial charge that is expressed as yearly rate. Before signing up for the card also look for the monthly charging rate and whether these are variable or fixed. By variable it is meant that you can be charged higher or lower according to the market (interest rate) conditions. You should ask queries on this issue as how much and how less would be charged from you. You should find a card that offers a free period during which you would not be charged. This is suitable if you can pay in full each month within the due date. Also ask them to send you the bill twelve to fourteen days prior to the due date so you can take advantage of this offer.

Check for the annual fee of the card as these matters a lot. Choose the card with the lowest interest, so you end up paying as little interest as possible. Also, keep in mind whether they give a significant protection against credit card theft. Choose the card that can provide a 24 hrs helpline and can be replaced quickly and with minimum charge if it gets stolen or lost. Make a chart, compare all the cards, award them points according to their services, and choose the one that matches your criteria.