Finding the Right Credit Card to Suit Your Needs
What Credit Card Should I Get?
Most adults have at least one or two credit cards. However, if you are new to credit, you might be questioning how to pick a credit card that is right for you. It is normal to wonder this, especially if you never given much thought to applying for a card. There are many options available out there, but which one do you apply for and which one do you truly need? It’s important to do your research so you can get the right credit card for your needs.
First and foremost, you should determine what your main goal is with a credit card. Do you travel by plane to many destinations for business or pleasure? Do you already have a credit history that is not exactly sparkling? Do you drive a lot? Do you want a credit card that gives you rewards just for using it?
You should think about the answers to those questions fairly and thoroughly, as it can help you in your quest to find the best option. Now, let’s go over some advice to help you answer your question of “what credit card should I get?”
Check Your Credit
To truly know how to pick a credit card that is right for you, you must consider your credit score, and whether or not you have already established it.
You can check your free credit score online or with a service like Credit Karma or Credit Sesame. Learning your score can make it easier to determine whether you can qualify for a low interest card, rewards cards, air miles cards, credit cards specifically for people with poor credit scores, or gas rewards cards. You can also qualify for more cards if your credit score is good to excellent. In general, you also have a better chance of qualifying for cards with perks.
Additionally, if you have an account with a service like Credit Karma, you can also be shown a list of credit cards for which you should qualify based on your credit score.
Consider the Type of Card You Need
There are three types of credit cards available: rewards cards, low interest cards, and credit cards that can help you improve credit that is damaged or limited. No matter which card you ultimately choose, it should be one that has features that meet your particular requirements.
For example, if you don’t drive, you wouldn’t need a gas rewards credit card. However, if your credit score is on the low side, you would benefit from getting one of the many credit cards for poor credit that are available.
It should be noted that student cards and secured credit cards are often the best options when you need a credit card for low credit scores. They can gradually help you to rebuild your credit score while learning valuable lessons on responsible usage.
If you frequently drive, gas rewards are the best types of credit cards for your needs. Likewise, if you rely on flying multiple times per year, you would want to take advantage of an Air Miles card.
Paying Off Your Credit Card
If your goal with paying off your credit card is to carry a balance, you should opt for a card with a low annual percentage rate (APR). Many offer an initial zero percent APR on purchases and balance transfers for at least the first six months of opening your account.
On the other hand, if you plan on transferring your balance from one card to another, it’s important to carefully read over the terms of a few different credit cards so that you can ensure it’s appropriate for you.
Once you have decided which credit card is best for you, you can narrow down your choices further. Explore a few cards with the same features so you can apply for whatever one best suits your needs.