What to Look for in a Credit Card

When it comes to shopping for a credit card, there are several things you should look for. Most people consider the interest rate first. If you plan on carrying a balance on your credit card from month to month, this probably is the most important factors to consider. There are, however, several other factors to consider as well.

After the interest rate, another important consideration is the perks the card provides. For example, most credit cards offer purchase protection and extended warranty coverage. Other perks that may be found on a credit card include travel insurance, car rental insurance, and roadside service. Depending on your lifestyle, certain perks will be more attractive than others. Therefore, be sure to read about all of the perks the card provides and narrow your choices down according to those that suit you best.

If you do intend to pay your credit card off at the end of each billing cycle, you should also consider applying for a reward credit card, cash back credit card, or airline credit card. These credit cards generally have a higher APR than credit cards that do not offer the same perks. Therefore, you will likely pay more in interest charges than you receive in reward if you carry a balance from month to month. If you will be paying your debt off each month, however, one the type of rewards the card offers should possibly be the first factor you consider.

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