It’s a question you may ask yourself time and time again: what is the best credit card for you?
You assume there’s a simple answer, until you realize that there are hundreds upon hundreds of offers to choose from. Furthermore, since no two consumers are identical, what’s best for you may not be best for the next person.
So, deciding which is the best credit card to apply for is a personal decision. You need to answer questions such as:
- What types of features are you looking for in a credit card?
- What don’t you like about your current credit card (if you have one)?
- What are some of the things that you must have in your next credit card?
- What does the word “best” mean to you?
- What are others saying about the credit cards on your shortlist?
- What is your credit score?
Once you answer these questions, you’re in better position to decide which credit cards deserve more of your attention. You can then compare the features, pros, and cons of each, with the idea of making a final decision as to which one you should apply for.
How to Prevent a Mistake
With so many offers closely resembling one another, it’s possible you could make the mistake of choosing the wrong credit card. It’s not the end of the word, but it’ll slow you down while potentially affecting your finances.
Here are the steps you can take to prevent this type of mistake:
1. Compare every available offer
Okay, you may not be able to learn more about every offer that is out there, but you can focus on the five to seven that really pique your interest.
When comparing, don’t hesitate to go beyond the internet. For example, call the issuer of each card to ask targeted questions and better understand the type of customer service they provide.
2. Don’t get caught up in the bright lights
Every credit card issuer will display the benefits of its products above all else. While you can pinpoint the potential drawbacks, they’re not likely to be displayed an easy to find and follow format.
If you get caught up in the bright lights – such as the benefits of the rewards program – you could overlook disadvantages that you want nothing to do with.
3. Create a checklist
The more research you conduct, the more you’ll realize that you’re bogged down by loads of information. With a checklist guiding you, it’s easier to “score” each offer and maintain a high level of organization.
Your checklist can include as many or as few points as you want. Just be sure it’ll help you compare offers so you can make a more informed decision.
You want to find the best credit card for you, but you may not know what that means. Hopefully, the above information and advice will provide a better idea of the steps you can take to make a confident decision.
Once you have the best credit card for you, you’re in good shape for the time being. It’s your hope that you’ll be able to rely on it for many years to come.