Part of what some people find overwhelming if they are inexperienced with credit cards is that there are simply so many of them out there. There are hundreds or even thousands of cards from which to choose, and it can tough trying to figure out which is most appealing to you. Are you attracted to low-interest credit cards, or do you want ones with cash back on certain purchases? Is it travel miles that gets you excited, or some other form of perks that gets your heart palpitating? You can narrow the choice of cards by looking at these four fundamental factors.
Is the Card Accepted Everywhere?
Some cards seem to have the perks that you want, but they are not accepted everywhere that you go. Some places might not accept American Express cards, for instance, while for others it’s Mastercard that they won’t take. If you’re okay with this, then it won’t be a problem for you. However, before you settle on a card, do some research. You might check with some of your favorite establishments to see if they take the card in question. If they don’t, you may want to look for one that is accepted almost anywhere. Visa cards tend to be accepted virtually everywhere you go.
Is There An Introductory Rate?
The interest rate for your card should be a point of focus for you. You might find a card that charges no interest on balances that you carry month by month for the first year, for instance. After those twelve months, though, it could jump to an extremely high-interest rate. You might be looking for a card that has an interest rate which attracts you. If that’s what you want, there’s nothing wrong with it. Just be sure that you understand what’s going to happen after the first six or twelve months that you have the card.
Does It Have A Yearly Fee?
Some cards that have great perks also come with a yearly fee. You might come across one that allows you access to all of the different lounges at the airports across the country, but there’s a fee of a few hundred dollars per year. Another card might let you into private or exclusive areas of sporting facilities. If this is appealing to you, you may be willing to spend the money on these cards. If you’re starting in the world of credit cards, though, it’s not likely that you’re going to be willing to pay for one.
Does It Have Good Reviews?
The worth of a credit card also has a great deal to do with the support system that goes along with it. Be sure to look online and see what the reviews are like, not only for that card but also for the company that manufactures it. If you notice that lots of people have negative experiences with the parent company if there was a problem with their card, you may decide that you want to go with a different one.
When you find a card that you like, it could very well be that you will carry and use it for many years. Just be sure that you do all of the necessary research beforehand, and that you know everything about the card before you start charging purchases with it.