Finding the best credit
cards in today’s world can be a bit challenging.
Although you may receive hundreds of credit card
applications in your mailbox each year, not all of
them are worth your time and energy. To find the
best credit cards, you should use a general
checklist when examining each application. By using
this checklist you can guarantee that you know
exactly what type of credit card you are applying
for and what to expect after you are approved.
Fees
Many people sign up for credit cards without
realizing they may be overlooking hidden charges.
Credit card companies have the right to charge new
cardholders a one-time enrollment fee. This fee can
cost as much as $40 in some cases. Most of the time
this fee is only explained in the tiny print on the
back of the application. With most applicants
neglecting to read all of the print, they never know
about the fee until the first bill arrives.
Another fee that many credit card companies
charge is a monthly or yearly cardholder fee. This
fee is one that is automatically charged to your
credit card each month or year. It is in addition to
any finance charges and other fees. It is simply a
fee that you pay to have the credit card. Even if
you do not make any charges for the entire year, you
will still be charged this fee. The best credit
cards available are those that have no fees. These
“no fee” credit cards can be found if you look and
read the applications carefully. Many credit card
companies are even beginning to advertise themselves
as being “no fee” companies. There is no reason you
should pay unnecessary fees when you can get other
the best credit cards without fees. So, be sure you
are reading the fine print and asking questions
before you get a new credit card.
Interest Rates
Anyone who has ever had a credit card knows about
interest rates. The best credit cards are those that
have a low interest rate. Many credit cards will
charge up to 21% interest on all purchases. This
makes it very difficult for many cardholders to ever
pay off their credit cards. The best credit cards
have interest rates lower than 15%. Some credit
cards will even allow you a lower interest or no
interest on purchases paid off in less than 30 days.
It can certainly be to your advantage to use these
options some of the best credit cards offer. If you
want to try to get your interest rate lowered,
simply call your credit card company and request a
rate change. If you have been a good cardholder then
companies with the best credit cards will take your
request seriously. Remember, the best credit cards
are not necessary those with the highest spending
limit. There are other behind the scenes factors you
should certainly consider. Hidden fees and high
interest rates can haunt you and your credit for
years. Be sure to check these things out before even
applying for a new credit card. You will be glad you
researched the best credit cards and your pocketbook
will be glad as well.
