Choosing your credit card, whether it is your first card or not, can be quite daunting given the numbers of credit card in the market that offers different rewards and benefits. But identifying your goals and priorities first will help you determine which credit card complements your spending habits.
To help you out, we listed different types of credit card that will suit every lifestyle and steps on how can you choose which one suits you best.
Identify your goal
The first thing you need to do is to think about your goal. Do you want to earn air miles? Do you spend more on shopping and groceries? Love to have exclusive deals and promos? Asking yourself these questions will narrow down your choices.
Each card has its own features and benefits that will address these requirements. Moreover, some cards have a combination of one or two benefits. So, make sure to determine your needs first to get the best card for your lifestyle.
Consider fees and charges
Using a credit card comes with different fees and charges. When selecting for your card, take a look at the various charges that are associated with your preferred card. These are annual fees, late payment charges, balance transfer fee, and foreign transaction fee, among others. Make sure that when choosing for a card, the benefits outweigh the fees that come with it. As much as possible, choose for a card that does not charge annual fees.
Compare different card providers
Most of the time, different credit cards offer almost the same features and benefits. They can only be different with the combination of rewards and fees they charge to their cardholders.
With this, ensure that you carefully look into the advantages of each card and aligned it with your spending habits. Use comparison sites to make your research easier and faster. They may also provide a smooth credit card application as well.
After you do these steps, it’s time to choose for your credit card. Here are some of the available types of credit cards that you might want to get:
- Cashback card – this card gives back a portion of what you spend.
- Rewards card – reward card provides different perks and promos.
- Air Miles card – this card lets you earn miles every time you make purchase.
- Motorist card – a motorist card provides different perks especially made for drivers, such as fuel rebates or discounts at gas stations and repair shop.
- Shopping card – this card lets you get bonus points or rebates every time you shop.
- No annual fee card – this card does not charge annual fees.
Using a credit card brings convenience since it allows you to make purchase without the need of cash. Plus, credit card helps you build your credit profile. So, it is important to do research to be able to get the best card for you. Make use of the different comparison sites to compare a wide variety of cards with just few clicks.