How to Find the Right Credit Card for You
A lot of people have credit cards that offer “cash back,” “rewards points,” or “miles,” but finding the card that gives you the most value can be tricky and confusing.
What to do
Visit www.creditcards.com. The site offers information that is updated regularly and gives brief comparisons of credit card offers with links to apply for the cards online.
Compare the cards based on what type of card you are looking for. You may need to go to a company’s website to get the full details.
Select the card that is best for you and apply online.
A Little More
While creditcards.com is maintained by the credit card companies, the information is less biased than their advertising. But if you are going to use the site, make sure to do the following:
Maintain good credit. There are a number of sites that give advice on how to maintain good credit. Maintaining good credit will decrease interest on future loans which is more valuable for your bottom line in the long run.
Do the math. Every credit card is different and some cards that are not #1 on the list might be the best for you. For example, an American Express Card listed under cash back only gives you full cash back after you have a yearly balance of more than $6,500.01. If you don’t spend much more than that, a different card may give you more cash back at the end of the year.
Don’t pay interest. If you are in debt or carry a balance from month to month, your best option is either pay down the credit cards that you own now, or open one that has a lower interest rate. In short, any interest you pay on a credit card will almost always cancel out any benefits you otherwise receive.
