ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
29.08.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Comparing Credit Cards

Author: Richard Greenwood Author Ranking Silver | Posted: 05-07-2008 | Comments: 0 | Views: 1 | Rating:  (163) Article Popularity - Blue (?) Got a Question? Ask.
Sign Up Now!
With the vast number of credit card offers on the market, all with different offers yet still claiming to be the best, trying to compare credit cards seems like a complicated business. To make it easy and find your perfect card you have to figure out what you want from a credit card and how you will use it.

Credit cards come with a variety of interest rates, fees, introductory rates, penalty charges, and "bonus" items like cash back, insurance, or air miles. When you compare credit cards, you'll want to look closely at the ones that offer the biggest advantage in the area that's most important to you.

For instance, if you plan to carry a balance even for a few months on your new credit card, you'll want to look for cards that offer low ongoing interest rates. Some cards will advertise an introductory, or "teaser" rate, but after the introductory time period is over the default interest rate will take over. That rate may be quite high, but you won't know that unless you read the credit card agreement  which is something you should do before you decide if this is the card for you.

It's possible that your suited to a frequent flyer credit card earning air miles. If you'll be paying your card off every month, that may be true. Be warned that most credit cards with a rewards scheme such as cashback, frequent flyers or points will compensate with higher fees and interest rates. You may see a fee to obtain the credit card, an annual fee, and very high interest rates if you do not pay the card in full each month. Once you calculate for all the fees and charges you will probably find the so called 'free' airline points work out to be very expensive.

Now you have established the features of greatest importance you can search for products that best meet your criteria using a financial comparison website. You can compare cards by classfor example, Rewards cards such as Frequent Flyer, Low Rate or Premium cards. Use this to decide which card you should apply for. For instance, if this is your first credit card or you're early in your career with a beginning salary, a Standard or Classic card is probably your best idea. Many 'premium' cards, e.g. Gold, Platinum have stricter requirements for approval and may be aimed at high income earners. If you don't have a well established credit record, it is not likely you'll meet the requirements. If you apply for credit and are denied, your credit score will take a significant hit that will remain for several months.

However, if you charge quite a bit every month and pay the balance in full, a card that offers rewards like purchase insurance or cash back may be a better offer for you. If you do your homework and find a card with rewards you really want and will financially outweight any costs incurred then you could consider a rewards card. The key when comparing credit cards is to find the best credit card for you based on your planned use of the card, your credit history, and what "extras" you're looking for. If you take the time to know what card you sare suited to you should find one that will fit your needs for the long term.
Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/finance-articles/comparing-credit-cards-473776.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

Richard Greenwood runs a range of financial websites to compare credit cards including low rate credit cards. The sites also look at other banking products such as loans, mortgages and investments.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Related Articles

How To Get The Best Credit Card Deal
By: Leo Chu | 23/04/2007 | Non-Fiction
Before you sign-up on the next credit card application you receive in the mail, here are a few things you need to look for - otherwise you may not be getting quite the deal you thought.

Credit Cards Which Give Cash Rebates
By: Matthew Meyer | 04/11/2006 | Finance
Cash rebate type credit cards. Are they worth it?

How to Avoid Getting Late Fees With your Credit Card
By: Matthew Meyer | 04/11/2006 | Finance
How not to get late fees with your credit card

Five Tips To Reduce Your Credit Card Bills
By: Leo Chu | 25/04/2007 | Non-Fiction
Outstanding credit card balances can get the better of you if you do not keep them under control. Here are five essential tips for reducing the amount you owe

How to Protect your Personal Credit Card Information
By: Matthew Meyer | 06/11/2006 | Finance
How to protect your personal information when applying for credit cards

Should Students Get Credit Cards?
By: Matthew Meyer | 06/11/2006 | Finance
The pros and cons of students and credit cards

What Are Bank Secured Credit Cards?
By: Matthew Meyer | 02/11/2006 | Finance
What exactly are bank secured credit cards?

How to Compare Credit Card Offers
By: Matthew Meyer | 02/11/2006 | Finance
Credit card offers. What should you consider

Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:
Powered by Yedda 

Latest Finance Articles

Why Finding the Right Coin Price Guide is Important
By: Gareth Bray | 29/08/2008
If you're new at coin collecting, you might find yourself overly excited at the prospect of finding or holding a coin that's priceless. Some coins are worth more than others, while other coins are not worth anything at all. To help you figure out if what you have is treasure...

The How and Why Behind Online Stock Investing
By: Jack Benson | 29/08/2008
Do you want to get involved in stock trading? The modern and easy way to do it is online. Let's explore a bit of the history of stock trading. The first continuous stock exchange trading took place in Amsterdam during the 17th century. Before this stock exchange, during the 13th century...

Benefits To Refinancing Your Mortgage
By: Edwin Hezron | 29/08/2008
A lot of people don't really understands what it means to refinance your mortgage, Though it a popular term but it has been greatly misunderstood.Despite the several factors that may influence it, there are different benefits to refinancing your mortgage. Refinancing your mortgage has a lot of advantages in this our...

Finding Finance Inside Your Business
By: Rakesh Gaikwad | 29/08/2008
Many businesses are finding it increasingly difficult to secure funding for expansion at the moment due to the credit crunch, but there are still ways to raise the money that you need for expansion. The first thing to remember about borrowing money is that you will need to be able to...

Try An Asset Protection Trust In Mauritius To Pass Your Assets On To Your Family!
By: Ramapati Singhania | 29/08/2008
Asset protection trusts are time tested legal instruments to save your wealth and pass it on to whomever you choose.

Why You Need To Avoid Repeated Finance Applications
By: Peter Kenny | 29/08/2008
Over recent months lenders have had to really tighten up on their lending criteria, and this means that many of those that may have been eligible for a credit card, loan, mortgage, or car finance last summer may now find that they encounter real difficulties when it comes to getting the credit that they need

How To Use Debt Consolidation To Get Yourself Out Of Debt
By: Peter Kenny | 29/08/2008
With the increased costs of energy, fuel and food, more and more homeowners are finding themselves in financial difficulty having to cope with these rising prices as well as higher payments on their mortgages because of higher interest rates charged by lenders

Make Sure You Get A Fair Price For Your Home
By: Peter Kenny | 29/08/2008
Most people have heard that the property market has slowed down considerably over recent months, with a number of factors affecting the level of property sales that are being seen. Estate agents have reported very poor property sales, and many homeowners are struggling to try and sell their properties

More from Richard Greenwood

How to Avoid Credit Card Interest
By: Richard Greenwood | 28/08/2008 | Finance
Credit cards can be a great way to manage your money if you use them the right way but most of us know just how easy it is to fall into the trap of debt and paying interest. Interest on credit cards can be high so how do you avoid paying interest on credit cards? Find out now.

How to Save Faster
By: Richard Greenwood | 27/08/2008 | Finance
High interest savings account offer a safe and reliable way to get a return from your money over time. While they may not offer the potential of such high returns as other options such as shares or managed funds they come without the risks those options have. Find out how to boost your savings faster than ever.

How to Stay Debt Free
By: Richard Greenwood | 25/08/2008 | Finance
Debt is the biggest cause of stress in the USA and most developed nations. As much as we may be lucky to access to lending it is now all too easy to get into debt. Find out how to manage your money to live debt free and have one less thing to worry about!

Shopping Online - Credit Card Security Tips
By: Richard Greenwood | 25/08/2008 | Education
Shopping online is a quick and easy way to shop. You can shop 24/7 without leaving your home and access a bigger range than any mall and prices that are often hard to beat. However, shopping onlibe involves giving out your credit card details so how do you make sure your details don't end up in the wrong hands?

Family Finances - Budgeting for Baby
By: Richard Greenwood | 22/08/2008 | Home and Family
Having a baby and starting a family is an exciting time but it does mean a tough time for your finances. You may go from two incomes to one income and have another mouth to feed. find out how you can plan your finances for a baby and avoid going into debt.

How to Avoid Credit Card Fraud
By: Richard Greenwood | 15/08/2008 | Home and Family
Credit card security has always been a concern, especially since the rise of online shopping over the past decade. Find out the measures in place that the best online stores use to keep your details safe and how to avoid letting your details fall into the wrong hands.

Credit Card Debt - Top Ten Tips to Wipe it Out
By: Richard Greenwood | 06/08/2008 | Finance
Credit cards getting out of control? It's all too easy to happen but can seem like an endless battle to get out of. Find the top 10 ways to slash your credit card debts fast.

Managed Funds or Shares?
By: Richard Greenwood | 24/07/2008 | Finance
The stock market provides unlimited investment opportunities. But what is the best way to manage your investments - trading direct buying your own stocks and shares or investing into a managed fund which is looked after by a funds manager. This article looks at the pro's and con's of each.

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below