|Credit Card Features Checklist
How much research do you do on credit card features when you are searching for a new card? Do you know what to look for in a credit card?
It’s obvious that different people have different requirements when they are comparing credit card features, but everyone should create a credit card checklist when they are thinking of changing cards, or even getting their very first one.
Do you have a credit card checklist? If not, use the ideas below to create one now. If you do, you will stand a much better chance of choosing the best card for you and your own personal circumstances.
1. What are you looking for in a credit card?
This is probably the most important question of all. Are you looking for your first credit card or your fifth? This will have a bearing on what to look for in a credit card, since you won’t need to look for a great balance transfer deal if this will be your first card.
Some credit card features are important in every card however, such as not having to pay an annual fee.
2. Which credit card features would suit you the most?
Another essential point to make a note of on your credit card checklist is what kind of benefits you are looking for. These can vary widely between cards and while some may appeal to you, others won’t be of any use at all.
Compare the top half a dozen cards and then work out which ones offer credit card features of which you’d make best use. Once you have done that, you will be able to narrow down your choices even more.
3. Check the APR.
The APR – annual percentage rate – is always good to know, especially if you think there is a chance that you won’t pay off the whole balance every month. Be careful not to get caught out by credit card features that offer a great rate to begin with, and then raise it to a much higher level later on.
Half the battle in knowing what to look for in a credit card is in recognizing the difference between a great introductory offer and a great long term offer. Sometimes you are better off shunning the 0% interest for three months deal in favor of a card that gives you a permanent low rate.
4. Make sure you know all the different rates and charges upfront.
This is the last point on our credit card checklist, but it is by no means the least important. We all intend to pay our bills on time; however, for whatever reason, we can sometimes forget or mislay the bill, and when we do, we will incur a charge.
It’s better to know upfront what those charges will be if it should happen, along with any other penalties that can be added to your account for any reason. The moral is to be prepared for everything.
Every credit card features a number of different benefits and advantages for its cardholder. The key to choosing the right one for you with the best credit card features is to put each one through your credit card checklist before making the final decision.
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