With so many options available on the Internet today, it pays to spend some time to do some planning and research I n order order to get the best credit card deals.
Credit card directory is a great way to do this and it is easy to apply online as well.
Here are some factors that you should consider when applying for a credit card online.
First of all, how do you intend to handle the outstanding balance on your credit card.
Do you pay your balance in full every month or are you tend to carry a balance most of the time? The answer will determine how important is the interest rate to you.
If you pay in full every month, the initial and ongoing interest rate will have no impact on you.
Other factors like annual fee and the type of reward program the credit cards offer will plays a more important role in your decision.
But if you intend to carry a balance, you have to look for those deals that offer low interest rate.
Preferably those that start with zero percentage for six to 12 months upon approval.
You should also review the interest rate after the promotion period ends.
Some of the credit cards offer a fixed rate and other may offer a variable rate.
Fixed rates do not change and are not affected by the economic trends.
On the other hand, variable rates will changes as the economic trends change.
The next thing to consider is the credit limit, which determine how much you can spend on your card.
If you have a high income, you will likely get a high credit limit.
However, it may be safer to opt for a limit that match your needs.
A high credit limit is very tempting and you may spend beyond your means.
A safe bet would be to add an extra 30% to your base limit.
For example, you are comfortable with a limit of $3000 but the credit card company give you a limit of $8000.
If you take the safe route, you can request to have your limit reduce to $4000.
In this case, you will likely be able to use the card without getting into debt.
At the same time, you also have some room to spare during an emergency.
The third thing to consider is the grace period.
This is the period where no interest is charge to your unpaid balance.
Grace period plays an important role in your budget and cash flow planning.
If the grace period is too short, you may not have enough time to raise the fund for paying your bill if the need arise.
Most of the time, a longer grace period is beneficial and give you better flexibility in managing your cash flow.
Next thing to consider is the reward program.
As you spend more with your cards, the more reward points you will accrue.
These points enable you to redeem for rewards such as free dinner voucher, cookware, travel discount and other useful stuffs.
Some credit cards also offer cash back instead of rewards.
However, the cash received is usually negligible and probably not worth your time and effort.
To get the most out of your credit cards, you should look for one that best suit your need or lifestyle.
The little piece of plastic is really a wonderful financial tool when you use it responsibly and wisely.
Credit card directory is a great way to do this and it is easy to apply online as well.
Here are some factors that you should consider when applying for a credit card online.
First of all, how do you intend to handle the outstanding balance on your credit card.
Do you pay your balance in full every month or are you tend to carry a balance most of the time? The answer will determine how important is the interest rate to you.
If you pay in full every month, the initial and ongoing interest rate will have no impact on you.
Other factors like annual fee and the type of reward program the credit cards offer will plays a more important role in your decision.
But if you intend to carry a balance, you have to look for those deals that offer low interest rate.
Preferably those that start with zero percentage for six to 12 months upon approval.
You should also review the interest rate after the promotion period ends.
Some of the credit cards offer a fixed rate and other may offer a variable rate.
Fixed rates do not change and are not affected by the economic trends.
On the other hand, variable rates will changes as the economic trends change.
The next thing to consider is the credit limit, which determine how much you can spend on your card.
If you have a high income, you will likely get a high credit limit.
However, it may be safer to opt for a limit that match your needs.
A high credit limit is very tempting and you may spend beyond your means.
A safe bet would be to add an extra 30% to your base limit.
For example, you are comfortable with a limit of $3000 but the credit card company give you a limit of $8000.
If you take the safe route, you can request to have your limit reduce to $4000.
In this case, you will likely be able to use the card without getting into debt.
At the same time, you also have some room to spare during an emergency.
The third thing to consider is the grace period.
This is the period where no interest is charge to your unpaid balance.
Grace period plays an important role in your budget and cash flow planning.
If the grace period is too short, you may not have enough time to raise the fund for paying your bill if the need arise.
Most of the time, a longer grace period is beneficial and give you better flexibility in managing your cash flow.
Next thing to consider is the reward program.
As you spend more with your cards, the more reward points you will accrue.
These points enable you to redeem for rewards such as free dinner voucher, cookware, travel discount and other useful stuffs.
Some credit cards also offer cash back instead of rewards.
However, the cash received is usually negligible and probably not worth your time and effort.
To get the most out of your credit cards, you should look for one that best suit your need or lifestyle.
The little piece of plastic is really a wonderful financial tool when you use it responsibly and wisely.