Credit cards have already reached the status of being on the most wanted list for most people. Due to the popular demand, there are so many companies offering different cards in the market today. For someone who does not have an idea on how to choose the best card, the result could be sticking with a card that does not suit the individual’s financial needs. It pays to know the features that you should look for to get the best credit card deals when you go shopping for one.
Watch out for cards that offer zero or low APR. APR or Annual Rate Percentage measures the cost of credit or the actual interest that is converted to the annual rate. A card with 0% or low APR may sound very appealing but do ask if it is a fixed rate or just a variable rate because this might be just an introductory offer. Find out what will be the rate after the offer expires. A fixed rate will assure you of a stable interest rate but it does not necessarily mean that it will not change. A variable rate, on the other hand, fluctuates depending on the movement of the stock market.
Take note of the fees and charges involved. There are cards that do not charge annual fees that usually amount from $25 to $50. There are some who do charge annual fees yet they offer cash back rewards and services in exchange. It is best that you learn about these so you can make comparisons when choosing the best credit card deals.
Go for a company that offers grace periods. There are companies that allow you to use the card for a certain number of days without charging interest. When shopping around for the best credit card deals, try to check out as many companies as you can. Do not settle with the first one you find, as there might still be better deals that you have not encountered yet. It is also wise to look for cards that offer low interest rates and scrutinize how they calculate their finance charges so you will get the accurate credit cost. Take into consideration as well your limitations in spending and paying. Do not aim for higher credit limits if you know for a fact that you do not have sufficient means to pay it.
If you are in a rush to own one, then look for companies that offer instant approval deals. But to be able to get the best credit card deals, it is important to remember these features.