Finances

Find your perfect match: Choose the right credit card

Are you looking for a new credit card? Then you're in the right place! Pick a credit card option based on your financial needs! Read on!

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Select your ideal card based on your credit score!

Are you looking for the perfect match for your spending? Then a credit card could be the answer, but how to choose it, right?

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That’s why we’ve put together this guide, designed to help you take the guesswork out of finding the perfect card for you! So read on!

What makes a good credit card?

Credit cards can be a useful financial tool for those who want to make the most of their spending! But you can either use right or wrong.

Overall, if you read the terms and rates of a credit card, you will know it is a good one. Especially if you know what you’re looking for.

There are several credit card options in the market. Each has its features; some are more advantageous than others!

For example, credit cards offer reward programs that can help you earn while spending, be it cash back, points, or miles!

Others offer some lifestyle perks that might be useful. So consider your needs; I’m sure you’ll find a good credit card.

Creditworthiness: how does it impact my approval?

Happy young woman paying bill with a contactless credit card in a restaurant. Female smiling holding a creditcard and giving a payment transaction to the cashier.
Find your perfect match: Choose the right credit card. Source: AdobeStock

If you’re looking for the right credit card, I’m sure you’ve encountered the term “Creditworthiness.” It determines if you’re trustable with credit.

Credit issuers will look closely at it, especially your credit score, before determining your approval for a credit card.

That said, you must know that having a good credit score will increase your chances of getting approved for a better credit card.

This means the higher your score, the lower your rates and the better features you’ll get! Not that each credit card has its requirements!

So make sure to check it before applying. After all, you don’t want to hurt your credit score, especially if it’s already low.

What is the best credit card to build a credit score?

If you want to establish or reestablish a credit score, there are some credit card types you can rely on. Firstly, there are credit cards for bad credit people.

Those cards are easy to get and won’t have a strict eligibility requirement. However, they won’t offer great features to cardholders.

Also, you can opt for secured credit cards! These require a security deposit that will be your credit limit! They allow you to build credit!

In addition, you can get your security deposit refunded! It is an affordable option to save money and build credit.

Also, there are student credit cards. These require enrollment in an educational program! They won’t request a minimum score.

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What types of reward programs can I find?

As said, some credit cards provide excellent offers to cardholders! These allow them to earn rewards while spending!

One of the most known is the cash-back rewards. It is easy to get—most card ratings range from 0.5% to 10%.

Another common offer is reward points! You can earn either 1 point or more per $1 spent! These points can be redeemed for cash back, miles, etc.

In addition, some cards offer miles, which can be advantageous for frequent travelers. These miles allow you to get discounts or fly for free!

Either reward program you choose, make sure it fits your lifestyle! After all, you don’t want to lose your hard-earned money, do you?

How do I choose the best credit card for me?

When choosing the right credit card for your financial needs, the best thing you can do is consider your wants and needs!

In addition, there are other financial factors that you must take into account before applying for any credit product.

After all, making the wrong move can negatively impact your finances!

Check out some key things to consider when choosing a credit card!

1. Check your credit score

As said above, your creditworthiness and credit score will majorly impact the card’s issuer’s decision! It will tell them how likely you are to pay your debt.

As a result, having a higher credit score will improve your chances of getting approved for credit cards with better features.

For example, you can get a good reward program, an intro APR period, and discounts.

If you need, you can get a free annual report at AnnualCreditReport.com.

2. Consider the card’s costs

Winner, phone and credit card with a black woman online shopping in studio on a gray background. Mobile, ecommerce and wow with a happy young female shopper in celebration of deal or sale success
Discover how to choose the best credit card for you! Source: AdobeStock

One essential factor you must consider is the general costs of the credit card! Make sure you read the rates and terms before any decision.

Compare fees, especially if there are any annual or monthly fees. Also, check the credit card’s interest rate, which can cost you a lot!

3. Find out the type of credit card you need

Discovering your needs is a must! So ensure you find out what features will be useful daily!

Do you want to build credit? Do you need to save on interest? Or do you want to earn rewards?

Ask yourself all these questions before choosing a credit card. This way, you’ll know what you’re looking for and can consider the right features!

I’ve decided what I want! What happens next?

Now that you know what type of credit card you want, it is time to start your search! Make sure you compare your options before applying.

Also, most companies allow you to prequalify with a soft credit check. This way, you can see whether you qualify for that card without hurting your credit.

So take your time and research; I’m sure you’ll find the best credit card!

Further, discover what happens if you don’t use your credit card! Keep reading and learn more!

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What happens if you don’t use your credit card!

An unused credit card can impact your finances! Keep reading and discover how! We've explained everything you need to know!

About the author  /  Luis Felipe Xavier

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