When you are thinking about credit card comparisons and trying to figure out how you are going to apply for credit card, there are a few factors that should be deemed more important than others. While all credit card companies like to claim that they have the best rewards and lowest rates around, we all know that these claims are rarely true. Instead of looking at the promotions from these credit card companies, you should be thinking about nothing but the bottom line. Don’t let these companies swindle you into taking a deal that is not as good as they claim because you will not want to have to start the process all over again in the future. Here are some things to think about while you are trying to find that perfect credit card:
1. Look for the lowest interest rate. The interest rate is one of the most important things that you are going to find on your card. Credit card comparisons will come down to many different features, but the interest rate should be at the top of the list. See if you can find a card that lets you borrow interest free for a long period of time. These kinds of deals are hard to come by, but it’s great to find them while you are looking to apply for credit card.
2. Next to interest rates, the rewards that come with a card are the most important item to think about. There is no use in getting a credit card that does not contain a rewards program because you are basically going to be missing out on free money. You can get anything from free movie tickets to free plane tickets with certain rewards programs, so try to find the card that will give you the biggest bang for your buck. You can also find cards that give you extra rewards for shopping for certain items, so keep your lifestyle in mind while you are picking out a card.
3. See what kinds of fees are associated with the cards while you are doing your credit card comparisons. Some cards come with an annual fee, while others will hit you with rather large late fees if you miss a payment. These are basically the only costs that come with a card besides the interest that you will sometimes have to pay on your purchases. It’s a good rule of thumb to make sure that you plan to pay off your credit card every month when you go to apply for credit card.
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4. One final thing to look at when you are looking to get a new credit card is the extra perks that they will throw in during the first few months. Some credit cards will give you hundreds of dollars of cash during the first few months just for spending a certain amount of money. If you know that you can handle the amount that is needed to be spent during this time period, then you should go ahead and factor this into your credit card comparisons. This usually isn’t a deciding factor when you apply for credit card, but it definitely gives you something extra to think about while you are trying to make your final decision. At the end of the day, there is nothing better than getting some extra cash in your pocket.