Which is the right card for me?
Firstly you should try to identify what type of
credit card user you are. Do you pay off your balance in
full each month? Do you only pay off the minimum amount
required by the credit card company? Or do you fall somewhere
in the middle, paying off whatever you can afford in that
given month? Also, you should think about what is most important
to you - are you looking for a low interest card, or are
you more interested in the associated rewards offered by
a credit card special offer?
pay off the full balance each month
If you are the type of person who has the required control
to pay off your full credit card balance each month, then
you should be looking for a credit card that offers an interest-free
period or alternatively a credit card that offers a very
low interest introductory rate. You may find that the standard
interest the credit card company charges is often higher
than other similar cards, but that shouldn't really come
into play because you are paying off your balance in full
each month, therefore the credit card company doesn't have
an existing balance left on your card on which they can
apply interest charges.
tend to not pay off the whole balance each month
You should be looking to take advantage of credit cards
with low interest rates offered on a longer term or a fixed
period. The amount of interest-free days offered doesn't
really come into play as you are still most probably going
to have a balance after this period, so look for the best
long-term low interest rate deals that best suit your requirements.
It's worth checking to see when the credit card provider
actually starts to impose their interest costs, the later
this date the better the deal for you.
Each and every credit card provider will have a list of
associated fees that you agree to obide by when you sign
up for the card. Typical fees are charged for late payments
or missed payments, taking cash out of a machine, using
your credit card abroad, plus others to name just a few.
You should always aim to pay your monthly payment at least
a few days prior to the deadline date to allow for payment
processing, postal services and other circumstances that
may delay payment reaching the providers.
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