We’ve all been bombarded by credit card invitations and many are very inviting.
But before you go to the party it’s vital to ensure you’re going to the right one and for the right reasons. In these recession hit days it’s easy to become guarded against using even the best credit cards available but they can actually be a good tool if used properly. Many offer cash back, travel insurance and even identity theft protection, so good research can be rewarding in the long term. The key is finding credit card offers containing a low interest rate.
Before taking a look at any credit card company it’s always a good idea to check your credit report. This is available free and there’s plenty of further information available on the net! From there you need to narrow down what type of card you’d like for the job you’d like it to do. Ask yourself things like? Will I be using the card regularly or is it just for emergencies? Is it for business purposes or just a good way of being rewarded for purchases? Do you have bad credit or are you consolidating debts? Transferring a balance from another credit card? Knowing exactly what you need will save you a lot of hassle in the long run.
The United States has the largest selection of credit cards in the world so there really is something for everyone out there. You need to narrow the field and hone in on what is just right for your own circumstances. Gas Credit cards for individuals who purchase gas on a regular basis are becoming very popular in the States. In short you get rewarded for their continual use. Set aside some time during your day to make notes and
THINGS I SHOULD KNOW?
Ensure there won’t be an annual fee though if you use credit cards on a daily basis especially for larger purchases then this might be the best way to go. These cards can carry high rewards from hotel stays to money off at restaurants, discounted flights to travel benefits. But there are two types of available credit cards we need to explain to you.
Unsecured credit cards are traditionally high in number credit cards most people will have. They can include the very big names in the market. A secured credit card requires the holder to deposit a certain amount as an escrow or (asset). If the cardholder stops making payments, the bank is within its rights to withdraw money from their escrow. You can even get a credit card if you don’t have any credit history so take time to shop around before making a final decision.
If you need budgeting help there are credit card companies out there who will fix pre-spend limits or offer you free continual spending analysis. If these companies see you’re willing to use your card sensibly then they’ll be more willing to help if things go wrong from time to time.
WHAT CAN I DO IF I HAVE A BUSINESS?
Business credit cards do exactly what it says on the tin. You need them to manage business accounts, expenses and all the other things associated with running a business on a day to day basis. There are many business credit cards available so again, make sure you carry out plenty of research on any of these financial products.
TYPES OF U.S. CREDIT CARDS
- Rewards Credit Cards
- Gas Credit Cards
- Travel Credit Cards
- Credit Cards For Bad Credit
- Non Credit History Credit Cards
- Balance Transfer Credit Cards
CREDIT CARD OFFER CHECK LIST
- Check your credit report
- Decide what type of credit card is best for your needs
- Ensure you find a credit card with a low interest rate
- When making continual large purchases look at credit cards with an annual fee
- Always read the small print and be clear about what you’re getting into
- Try and find a credit card that brings rewards
- Ensure you can make regular payments off the balance
- Spend time shopping around
There’s a great deal of information out there and the following sites will enable you to look at a vast selection of credit card offers in a short space of time. They can also help you to narrow your selection down and choose the credit card that’s right for you. The more time you spend doing this the more chance you have of getting the best credit card!
- annualcreditreport.com. for your free credit report
- NerdWallet.com. for more information on credit card offers
So once you’ve accepted your invitation you can go and enjoy the party fresh in the knowledge you’ve made the right credit card choice for the future. Don’t be a credit card party pooper!