Choosing the Best Credit Card for You

Posted on December 03, 2012 by

In an age where the average person carries multiple credit cards, it still pays to pick the right ones, or know which one among them is your most reliable credit card. You'll certainly need to choose between them while travelling, because the last thing you want to happen is to pack the wrong credit card for your trip. It's also important for you to choose which credit card or cards best suit you if you haven't picked one up yet. Nowadays, credit, not cash, makes the whole world go round, so it's important that you pick up a personal or business credit card that best suits your individual or company needs. In fact, the credit card you use the most is a good reflection of your current economic status and monetary capabilities, or at the very least your financial sensibilities. Before you jump into signing up for a new credit card. Try doing some research about the credit card provider, its customer service help and find out what credit cards are on offer with credit card comparison charts.

What to Look For in Credit Cards

Banks and financial institutions all over Australia as well as the world pitch all sorts of promos, particularly special offers on travel, in order to vie for a favoured position in their clients' wallets. This can rage from picking up fees for your checked baggage or waiving transaction fees that can pile up to 3% to your international purchases. With that said, rewards and promotional deals are viable factors in choosing a credit card depending on your needs and wants. Whether you want to do away with about two percent foreign transaction fees on purchases abroad with a platinum card or avail of an airport lounge access for more than three hundred cities in the world, it's all good.

There are also cards that provide timely discounts and rewards depending on the card type. You have your business cards that provide a lot of leeway when it comes to purchases in order to help you with your overhead, your interest-free days cards that allow you to use your credit card without worrying about the interest in your piling bills for a certain period of time, and your rewards cards that enable you to win prizes, merchandise, and discounts on restaurants or movie theatres depending on how many reward points you've earned. As for those of us who are on a budget, a low-rate credit card with a steady credit limit, no annual fee, and affordable rates on balance transfers and cash advances is the perfect companion. 

Recommendations and What to Watch Out For

When choosing a credit card, always pick one that best suits your lifestyle. Whether you're a constant traveller who's interested in travel discounts and global travel clubs with a variety of perks and privileges, a housewife who's buying furniture and appliances for her new home, a businessman who's setting up his first start-up business, or someone with bad credit who wants to improve his rating by completing his payments on a low-rate card, there's a credit card waiting for you! Pick the card that best suits your interest and fancy.

  • Low Interest Rate Credit Card Advantages: Low interest rate cards (particularly on balance transfers) will allow some with a balance credit card debt to fix his credit woes, put a stop to new charges, and earn back the trust of lenders and financial institutions everywhere.
  • No Annual Fees and a Rewards Program: If your balance requires monthly payment, you should search for a credit card that lacks annual fees and offers a solid cash rewards program in order to maximize your savings and ensure the completion of your monthly payment without the hassle of extra fees.
  • Unique Benefits: Every credit card is unique, and some of them are specialized to suit your needs. Aside from the examples above, there are also credit card specifically used for gas that rewards you on your auto expenses or a credit card that encourages shopping and department store purchases.

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