Which Credit Card is Right for You?
Posted on February 6, 2008 - Filed Under Loans |
There are so many different options when it comes to credit cards today, it isn’t always easy to know which one is best to use. The ideal credit card for your needs will reflect your spending habits and help you manage any consumer debt you might already have.
If you are looking for a credit card to hold strictly for emergency use, consider a card with no annual fee. Paying an annual fee for a card you rarely if ever use makes little sense. You might obtain a card with a slightly higher interest rate, but no annual fee. Since you do not carry a balance on your emergency card, the interest rate is less of a concern than in most circumstances. Another option is a secured credit card that could serve as a form of emergency savings.
For individuals that use credit cards regularly, yet pay them off in full each month, interest rates are also less of a concern than they might be in other circumstances. What may be more important are cash-back rewards or other incentives that allow you to benefit from using your card frequently. If you are less interested in rewards that seem to take forever to accumulate, consider a charity card that donates a small percentage of your purchase amounts, instead.
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