A credit card happens to be a practical tool for solving many requirements, from paying for school costs, purchasing a thing, or having a medical emergency.
Having a good amount of credit card with a balance in favor and free of debts adds points in favor of the users, which allow them to access greater bank credits, loans, etc. There used to be several credit cards you can find in the market, and every single one of them has diverse advantages. Especially, related to the maximum credit limit, payment terms, availability of cards in different stores, etc.
In fact, even the same bank can offer several types of credit cards that offer different benefits. There are other credit cards that happen not to be related directly to the loan amount but are used to craft purchases.
These credit cards act as consumer cards in that store, through which you can buy products and then you can pay in comfortable installments.
Each credit card offers credit limits, payment facilities, and even promotions for the purchase in a store associated with that card. So, all credit cards are not the same. For this reason, you should know how to choose the credit card that best suits your needs.
On this particular one must be very careful, as many banks or stores invade with advertising to join a credit card. As expected, they offer supposed advantages that while they may be beneficial, they are not really useful for everyone. And they end up being a heavy burden for some users.
How to choose the best?
In this article, there are seven tips for choosing the best credit card. Before selecting any, you have to think with a cool head if there are real needs, present or future, that justify the acquisition of a certain credit card.
You have to verify very well what are its characteristics and conditions to avoid unpleasant surprises.
Check the APR
It is an annual indicator that includes interest, expenses and commissions, which is usually between 18% and 20%. Such payments can be made at the end of each month or in flexible monthly installments agreed with the bank. The APR must be checked to see if a card is convenient.
A credit card with a high limit is very tempting, but it can be a double-edged sword. It is best to weigh the advantages and disadvantages of each credit limit according to the purchase needs and actual payment capabilities, according to the bank’s conditions.
Some cards offer extended payment terms, but you should keep in mind that they are usually the ones that penalize the most if you exceed the period to pay.
Certain brands of cards such as MasterCard, Visa, American Express, etc., are usually accepted in more commercial establishments than others. So you have to make sure that it is a card that is accepted in most of them.
There are credit cards that are free, that is, you do not have to pay commissions for issuance, renewal or for obtaining an additional one.
Even these free credit cards allow you to withdraw cash at ATMs without paying commissions. These types of cards are very attractive, so make sure you don’t fall into the trap when it comes to borrowing quickly.
Some credit cards have agreements with certain stores, which offer discounts for the purchase of products using these cards. But it is necessary to compare the prices of these products because it usually happens that their prices are too high so that their supposed discounts are not so beneficial. Even many of these cards charge commissions so high that it is not worth accessing such discounts per purchase.
Some credit cards offer insurance for the purchase of a certain product or service. For example, some credit cards offer travel insurance policies if you buy an airline ticket with them, which includes compensation in case of lost luggage and even life insurance.
After analyzing these tips, you already have a clearer idea of how to choose the most convenient credit card. But now the questions that arise are: What are the best credit cards and where to get them?
This ranking with the best credit card details which are the best available in the Spanish market, without needing to be investigating a lot. With the help of an online credit card comparator, you can investigate the features, products, advantages, and disadvantages of any credit card. This way you can make the best selection.
This online credit card comparator updates your information monthly, so it provides up-to-date information on each of the cards available in the market.
Remember that the best credit card is not necessarily the one with the highest limits, those that use to allow withdrawing cash at ATMs or those that offer fabulous discounts for purchases.
Thanks to this online comparator, each of the credit cards can be placed on a balance, weigh the pros and cons until you select the one that best suits your personal or family needs.
A good credit card can be your best ally if you follow these seven tips to choose the best credit card and avoid falling into the trap of unplayable debts. A good credit card is a solution to your problems, so make a good selection.