You’ve probably seen tons of commercials on TV and magazine articles with companies touting the credit card they issue as the “best credit card.” Everybody wants to be the best of course, but the truth is there’s really no overall best credit card for everyone. Every individual is different, and that means what might be the best card for one person is completely wrong for another person.
In order to find the best card offer, it is essential to consider how you use your card and focus on offers that will either save you money in interest to help you pay down your credit card debt, or help you earn more money/rewards on your purchases. Read on to learn the main factors to consider when looking for the best offer for your needs.
1. High Interest Credit Card Debt
If you carry a high interest balance on your card from month to month, the best card for you is generally one that features 0% APR balance transfer offers. With a balance transfer, you can move the balances on your high interest cards to a card with a low 0% APR promotional rate. You can then use the interest fees that you save during the 0% period to reduce your overall balances, which can help reduce your overall debt a lot faster. In addition, if your original credit card company raised your interest rate last year, there’s a good chance you might get a lower long term interest rate with your new card once the introductory 0% APR period expires.
2. Planned Large Purchases
If you plan on making some large purchases that you want to repay over time, and you don’t currently have a high balance or debt, look for a card with a 0% APR on purchases. Many companies currently offer 0% rates for up to 1 year on purchases, and you can use this time period to gradually pay down your balances without accruing interest. Note that many 0% purchase cards may only offer the special promotional rate on select purchases. For example, a store issued card will offer 0% financing on all purchases from their store. Be sure to always read all the terms of an offer prior to signing up for it.
3. Credit Card Rewards
If you use your card frequently but pay it off in full every month, the best card for you is one that offers rewards. Cash back and airline miles are the most popular types of rewards, and many no annual fee rewards cards are currently still available. When choosing a rewards card, look for one that provides things you actually want or need, like extra cash-back or airline miles on everyday purchases like gas or groceries.
http://www.SmartBalanceTransfers.com/ provides visitors with a balance transfer calculator, informational articles and the targeted information necessary to maximize the savings that can be reaped with balance transfer credit cards. SmartBalanceTransfers.com also provides its consumers with the opportunity to find 0 APR balance transfer offers.