Find the Best Credit Card for You

There are a number of things to consider when you looking for the best credit card for you. Some things to consider include: age, past credit history, spending habits, and the type of purchases you make the most. You may not have thought about all those things or may not understand why they affect which credit card will be the best credit card for you. You were probably thinking, I just want a credit card with no annual fee and really low interest. Let us explain a little more about why you may want to consider these other factors as well.

If you are very young, have no real credit history, and have never had a credit card before, finding a really low interest rate card with no annual fee may not be very easy. However, if you start looking for student credit cards, you may be able to find a great deal. Student credit cards are a great way to start building a credit history and a high credit score. Just remember, paying your bill on time and not carrying a high balance are essential in helping build a high credit score as well. Most student credit cards will offer reward points that you can earn on almost anything you buy so be sure and look around for a card that has the best rewards, that are easy to claim.

Past credit history is important because the type of cards you will be approved for will depend on if you have no credit history, a bad credit history, an excellent credit history, or if you fall somewhere in between. If you have NO credit history or a BAD credit history, you may want to look at a prepaid credit card. A prepaid credit card is much like a debit card. Depending on the card, you can have you paycheck automatically loaded onto the card and then use the card just like a debit card. Most prepaid credit cards do not require any credit check. This is a great card if you are worried about spending more money than you make because you can only spend as much as you have on the card.

If you have fair to good credit you will probably have to pay a little higher interest rate and may have an annual fee. Always look around. Try to find a card that offers rewards at retailers where you shop a lot or on the type of merchandise you typically purchase with your credit card. Work hard to show your financial responsibility, i.e. don't max out all your cards and pay your bills on time every month. After a few months of maintaining a low balance and paying your bill on time, call your credit card company and ask if they will lower your interest rate. If they can see you are showing financial responsibility, most companies will reward your efforts, if you ask.

If you have excellent credit, look around for the best deal. There are a ton of reward cards out there so look for one that will reward you with things you will use: air miles, cash back, gas rewards, or whatever you will use. Check around for the best credit card deals and then apply for the ones that will best fit your needs. With an excellent credit history, you don't want to settle for the first offer that comes to you in the mail. Be pro-active and find the best deal for your needs!!