How to Get the Best Credit Cards

Everyone these days needs a credit card. For most transactions it is simply convenient. Plus you can actually save some money by using a credit card. For example, if you purchase items over the internet you often pay less than you would at traditional brick and mortar stores. You can pay bills, make purchases and secure reservations all with a credit card. There are also some transactions that require a credit card. For example, if you have ever tried to rent a car without a credit card you will know that it is impossible to do so. So, a credit card is really a requirement these days. But you want to get the best credit cards available that will suit your particular situation, credit worthiness and spending patterns. Plus, you don’t want to waste money. So, finding the best credit cards is necessary.

The Best Credit Cards May Not be the Best for Someone Else

One thing you need to realize is that everyone is different, everyone spends differently and everyone has different credit ratings. So, there is no such thing as the best credit cards for every situation. There are instead the best credit cards for particular situations. In order to determine which ones will work best for you, analyze your spending habits and lifestyle. You will also need to look at your finances, ability to pay and most importantly, your credit. The more financially sound you are and the better your credit the more powerful a position you will be in to negotiate the best terms.

Have the Best Credit

One of the best ways to ensure you get the best credit cards is to maintain stellar credit. The better your credit, the more options you have to choose from and you will be able to better negotiate terms. You will be eligible for high end rewards and low interest rates. In order to maintain good credit you should have a good debt to income ratio. In other words, your income should greatly exceed the amount of debt you carry. Next, you should pay your bills on time, every time. Having late payment histories on bills is one of the fastest ways to ding your credit score. For some, a financial emergency may dictate a late payment and that may be unavoidable. However, there is no excuse for forgetting to pay your bills when you have the ability to do so.

Pay more on your cards than the minimum balance. If you pay more than the required balance you will pay off debt faster and accumulate fewer fees in interest charges. The final part of maintaining good credit is to regularly check your credit score. If you do everything right you could still have less than excellent credit because of an error or even fraud r identity theft. You can get a good handle on your credit by checking it regularly and fixing any problems immediately. Those who have the best credit will have the ability to qualify for the best credit cards.

Shop Around

As with anything else, in order to get the best cards you need to shop around and compare fees and benefits. Look at several credit cards side by side and see which ones have the best mix of all the features you want in a card. The credit card industry is highly competitive and you can get great deals if you are patient and shop around, especially if you have good credit. Look at both the regular credit card terms as well as any introductory specials they may have.

The Lowest Interest Rates

The single most important aspect of a credit card to determine the best credit cards is the interest rate. You want to get the lowest possible annual percentage rate. Make sure the interest rate is what you would expect to get for your credit score. Another part to look at is an introductory offer. Often this includes a 0% APR for a particular period of time. If you have such an offer, you can transfer your balance you have already and pay off the amount faster, lessening your debt and increasing your credit score.

Additional Benefits

Nowadays a low interest rate is not the only determination for finding the best. Because the credit card industry is so competitive, other perks are often thrown in and there is really no reason not to take advantage of them. The best cards offer rewards such as cash back on purchases, points you can accumulate that is good toward bonus items or travel miles that can be redeemed for air fare, hotel or other travel related expenses.

Look at Additional Fees

Interest charges are the most obvious of the fees associated with credit cards but certainly not the only one. The best credit cards have the lowest, or no, additional fees. Check for items such as an annual fee, late payment penalties, over limit fees or processing fees. Also, check the terms carefully to see if interest rates can be raised or additional fees applied for certain situations.

The Best Credit Cards for Poor Credit

When you have fair to excellent credit you have several comparisons you can make. However, for those with poor credit you will be faced with high interest charges and fees or secured cards requiring a deposit. Make sure when you choose a credit card that you do not overextend yourself further making your financial situation and your credit worse than it already is.

The best cards are the ones that best suit your needs and credit rating. Look for low interest rates, low fees and great additional benefits. The best credit cards for you will be the ones with the most lucrative combination of everything. Choose wisely and maintain your credit cards and you will see your buying position increase as well as your credit score.