7 Tips to Help You Choose a Better Credit Card Offer

Find out what to look for when sifting through all your credit card offers.

06:40 16 April 2013

Tons of credit card offers flood our post boxes on a regular basis claiming to be the best offers. Should you take advantage of the offers, or pass?

 

If you already have a credit card for credit building and perhaps in the case of emergencies, then you may want to pass.

 

If you don’t have a credit card, many places throughout the course of your life will try to judge your financial abilities by how your credit looks and they want to see at least one credit on there so they get an idea of your spending habits and payment habits.

 

The problem is getting a credit card that works for you. If you don’t have credit established your credit card offers may not look all that tempting. Here are a few things to look for:

 

• The longer you wait to apply for a credit card, the better the credit card offers seem to become. You may get lower interest rates if you don’t apply for any credit for a while.

 

• Look for offers without annual fees.

 

• Look for the lowest interest rates.

 

• Check the fees and what can cause them

 

• Pay attention to the grace period. This tells you the amount of time you have to make a payment before your balance begins accumulating finance charges.

 

• Late payments. This is especially important to note. Most credit card offers will come with information that tells you what to expect if you make a late payment. Depending on the company, your interest rate may skyrocket if they don’t receive a payment on time.

 

• Credit limit increases. You may never need to have a credit limit increase, but just in case, you may want to check the policy on that if you’re looking to have one main credit card.

 

These should help you choose from the plethora of credit card offers and feel that you’ve received the best deal possible.