Credit cards offer some incentive and reward for spending, but there are also many expenses that can’t be avoided. A credit card’s main purpose is to get you into debt, which can then be turned into more spending and larger debts. This process will eventually take your money and leave you with nothing at the end of the month. This is why credit cards have two sides. The credit card companies want to make money off of you, but they have to offer you something in return.
If you don’t own a ton of cash, it may not be worth it to go out and get new credit cards. Instead, focus on getting your balance below about two thousand dollars. With a decent credit score, you will qualify for a very good credit card deal. Having a credit card with a higher credit limit is usually advisable, especially if you tend to carry a balance from month to month. Having a credit card with a higher credit limit is usually considered a good credit rating, and some issuers even offer special offers above seven thousand dollars. In most cases, these seven thousand dollar credit cards require a deposit of around three hundred dollars, so be sure to save up before applying for the cards.
If you don’t have a lot of money to put down, then you still have options, though they are much more limited than with a large credit limit. The best credit card offers are those that give you a decent interest rate and a decent or higher credit limit. The better issuer will typically give you a lower interest rate, but it is still better to try to maintain a decent balance to increase your credit score. A good credit history will go a long way towards increasing your credit rating and qualifying you for better offers. On the other hand, a poor credit history will likely disqualify you from most offers, as well as result in higher interest rates.
The second type of offer are those that are advertised as zero fee or low cost cards. These zero-fee credit cards often allow you to make unlimited purchases for a set fee each month. There are different credit cards available at this point, so you can choose the one that fits your needs. Some credit cards offer free air miles, cash back, frequent flyer miles, or other various rewards. It’s important to read all the fine print of these deals to find out if there are any fees that might surprise you. Often times there are extra fees that go along with these types of credit cards.
You also want to look for offers that have some kind of incentive to keep you a card for a long time to come. Most cards out there have some sort of membership program or rewards program tied into them. Many cards will give you a percentage of cash back, or other form of cash back, if you maintain your good credit habits over time. These are good credit habits, meaning that you’ll need to make your payments on time and not get any of your purchases approved.
Another option you can consider is a credit card that allows you to earn rewards for every dollar you charge to the account. These credit cards work very well with your good financial goals already in place. You can earn the rewards by making purchases, or you can choose to let the credit card company to earn the rewards for all of your spending. Either way, your credit profile will be increased, which is a great benefit to having these types of credit cards. Your spending may already meet your financial goals, so earning rewards from spending is definitely a good idea.
The third type of offer you may be interested in is a cash back card. If you already have a credit card that offers cash back, you might want to consider switching to a new card that offers something else. Some cards offer cash back with any purchases, while others require purchases at specific merchants. Look closely at the terms of the new credit card you’re considering to find out exactly what you’ll get when you take it out. You may find that it’s not worth it if it doesn’t offer cash back, so keep that in mind.
Once you’ve found the credit card offers that best suit your financial needs and lifestyle, read about the terms of the offers and how they will affect your credit profile. Make sure you understand everything, because making a mistake when it comes to your credit card usage could cost you more than you bargained for. Then find out how you can earn cash back with everyday purchases at your favorite store or even online. Take the time to compare the different offers available and choose the one that works the best for you. With a little time and effort, finding the best credit cards at a bankrate can be easy and fast!
