Your Guide in Choosing the Right Credit Cards

Not all credit cards are created equal. Know what they offer and choose the best one for you.

13:41 30 March 2013

There are so many things that you need to consider when getting a credit card.This includes having a deeper understanding of your spending patterns and understanding the features of each credit card being offered out there.

 

Having the right credit card that compliments your preferences and spending can definitely help you save hundreds or even thousands of pounds over time. Below are the types of credit cards that you may want to consider: 

 

• Credit cards with a standard low rate. These are the most common and popular credit cards out there but industry experts agree that they aren’t the best cards for many people.

 

These are recommended for borrowers who tend to use credit cards infrequently and don’t always pay off the bill in full. 

 

• 0per cent on balance transfer credit cards. These are best for people who have existing debt and who are likely to pay within a specific period of time without incurring additional interest.

 

These credit cards are advantageous, as they will allow you to concentrate on repaying more urgent debts. 

 

• Low-rate life of balance credit cards. These are for you if you want to transfer your existing credit card debt to another card without incurring additional interest so long as you pay the minimum charge every month.