Are you in the market for a new credit card? Do you have reason to believe this could change your finances for the better? Are you ready to apply for a credit card in the near future, but a bit worried that you could make the wrong choice?
Although there is a lot to think about, here’s something you need to know: there are hundreds upon hundreds of credit cards to choose from.
With the average American family carrying roughly $8,300 in credit card debt, it can be a challenge to make a final decision as to which offer is best for you. After all, you may have some concerns about bringing a tool into your life that can cause more harm than good.
If you’re ready to move forward regardless—maybe because you need something that can help you pay for your law school expenses—it’s time to learn more about the many credit card offers that are available.
Here are five things you should be looking for in an offer:
- Low Interest Rate
It goes without saying that you want to find the credit card with the lowest rate possible. This way, if you carry a balance from one month to the next you want pay out as much in interest.
As the month goes by, there’s a good chance that your expenses will add up. From those new appliances to online electric guitar lessons for your child, you never know what will hit your budget hard during the month. If you have to carry a balance, it’s nice to know that a low rate won’t lead to too much extra money due.
- Rewards Program
Is there anything better than the idea of getting something in return for every dollar you spend? This is exactly what you get with a rewards credit card.
When you make a purchase, you are rewarded with points. In the future, you can use these points for everything from travel to cash back (depending on the rewards program itself).
Although you don’t have to opt for a rewards credit card, with so many benefits it’s something that you definitely want to consider.
- Good Customer Service
The last thing you want to do is choose a credit card company that provides less than ideal customer service. This can get you into trouble down the road, and that is not something you want to think about.
You can learn more about a company’s approach to customer service by calling them on the phone and asking a few questions. Along with this, don’t hesitate to read online reviews, as these can tell you a lot about the approach a company takes in regards to serving its customers.
- Online Account Access
This is one of the many features that people often overlook when searching for a credit card. Online account access can make life much easier, as you can stay on top of your spending without having to track anything on your own.
- Low Fees
There is nothing worse than carrying a credit card with a long list of fees that can cost you quite a bit of money as the year goes by.
For example, some credit cards have an annual fee. Others have a fee if you use your card outside of the country.
Before applying, request a list of the fees associated with the card. This will give you a better idea of what you could face at some point in the future.
These are just five of the many things you should look for in a new credit card. If you keep these details in mind during the search process, you’ll find it much easier to settle on an offer that suits your every want and need. From there, you can feel good about applying and moving forward with your life.
What steps did you take the last time you were searching for a credit card? Did you do anything in particular to speed up the process, all the while ensuring yourself of the right decision? Share your personal approach and strategy in the comment section below.