Many of us have a credit card but we may not be using the one that is best for us. This is because cards vary a lot with the features that they have and this means that you might find that there are cards which are better suited to you than the one that you have. There are a few things that you need to think about and check out in order to find out. Then you can decide which card to get if you do not have one or you could swap the one you have for a better one.
This is probably the most important factor when it comes to a credit card. The cost of the card will usually refer to the interest rate because most credit cards will only charge this way. You will find that a credit card will tend to have quite a high interest rate compared to other loans but the rate will vary between lenders. This means that it can be worth comparing the different lenders to see which is cheapest. If you always repay the card in full each month, then you will not pay interest and so you might think that this is not relevant to you. However, you may be in a situation at some point, where you will not be able to repay it in full and you may then regret not going for a card with a better rate. Some cards may also have a yearly fee and although these are rare, do be careful that you check for this as you do not want to pay this unnecessarily.
Some credit cards will offer some cashback. This means that you will get a percentage back for everything that you spend. However, you will find that this is a n extremely small amount of money and it is likely that the credit card will be more expensive as a result. So, you will need to be confident that you will repay the card in full if you go for this sort of card or else it will not offer you value for money. You also need to be confident that you will not use the cashback percentage as an excuse to spend more money. You could easily think that because you get some cashback that it does not matter if you spend more, in fact it will help you get more money back. However, you will be spending a lot more money than you get back and so it should be used as a bonus not an excuse to spend more.
It is important to make sure that the card you choose has a credit limit which is suitable for you. You need to have a think about how much you feel you will need, but perhaps you will not want too much so that you cannot get too carried away with your spending. Different lenders will have different credit limits available and it could even be determined by your credit record. So, it can be a good idea to check with them before deciding whether their credit card is the right one for you.
It is worth thinking about whether customer service is important to you. Some people tend to use customer services a lot and other less so. However, you may still want to make sure that the customer service is decent. You will be able to find this out by looking at reviews. You will also be able to contact the customer services department and then you can judge for yourself whether you feel that they provide a good service or not.