Looking for a Credit Card? | See This Year’s Best Credit Card Offers
In today’s financial landscape, establishing good credit history is crucial. Your score can impact your ability to buy a home, purchase a car, take out a personal loan, or even rent an apartment.
Aside from maintaining a good credit score, many consumers like having the security of a credit card in their back pocket for emergencies, travel, or daily purchases.
Of course, not all lines of credit are created equal—depending on your unique financial situation, there are both good and bad credit card offers.
Ultimately, you want to get a credit card that sets you up for financial success, rather than encouraging further debt.
Important Credit Card Features
One of the key factors in choosing a new credit card is to make sure that the features and benefits match your unique financial goals and needs.
This means considering a core set of credit card features, including:
- Credit score requirements
- Promotional rates
- Annual fees
- Points or rewards programs
Credit Score Requirements
It goes without saying that you should never apply for a credit card unless you know what your credit score is first. In fact, most credit cards will advertise the average accepted credit score for exactly this reason.
In order for your credit card application to be processed, the lender has to make a credit inquiry, which will impact your overall score for 12 months afterwards.
If you have good credit, this probably won’t hurt your score much—but if you have less than desirable credit, you don’t want to have multiple inquiries from continuously applying and getting denied.
If you don’t already have a method of checking your credit, using a free service like Credit Karma is a good place to start before looking for a credit card.
Many of the best credit cards come with promotional offers for interest rates and balance transfers, which can be instrumental in keeping a line of credit both affordable and manageable.
If you choose a credit card with a promotional rate, make sure that you keep track of when the introductory period ends. You’ll want to make sure that any transferred balances or new charges are paid off before then to avoid hefty interest fees.
Some credit cards also come with annual fees simply for having a line of credit. While this isn’t necessarily a bad thing, it could certainly impact the overall affordability of the credit card.
Before signing up for a credit card, you should always read the terms and conditions to make sure that you aren’t hit with a surprise annual fee at the end of the year.
Points & Rewards Programs
If you are planning on using your credit card often, or for specific purchases like groceries or gas, you may want to consider signing up for a rewards-based line of credit.
Many credit cards will offer points based on specific purchase categories that can be redeemed for cash or account credit, which is a great way to increase the value of a credit card.
Even better, some cards offer a percentage of cash back on all purchases, making it easy to earn account credit and keep your credit card debt under control.
Ultimately, choosing the best credit card will come down to having a keen understanding of what your unique financial needs and goals are.
Whether you are looking to transfer a balance, collect points, or simply want a lower interest rate, you’ll want to select the credit card that provides the best overall value for you.
No matter what your financial needs are, there’s a line of credit out there for you—the trick is being willing to do a little bit of research to find the best credit card offer that best matches your individual needs.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.