Published February 27, 2018
WASHINGTON – It is common to open your mailbox and find credit card offers. Before you apply for a credit card you should know your needs as a consumer. You should only appy for a credit card that fits your needs. Everyone has their own spending habits that play into what type of credit card you should apply for.
Cardholders who carry a balance should look for a card with the lowest interest rate, and possibly one with 0% APR introductory financing. A lower interest rate means you will pay less money toward interest charges as you pay down the balance. Meanwhile, those who can avoid interest charges by paying their balances in full every month should choose a card that offers the most valuable rewards in the form of points, miles or cash back.
When picking a credit card it is important to know what your credit score so that you target a card you are most likely to be approved to obtain. There are credit cards for fair credit that provide low interest rates, as well as other benefits.
You should consider any benefits offered by the card, such as purchase protection or travel insurance. Finally, applicants should also take into account any applicable fees — such as annual fees and foreign transaction fees.