With a dizzying array of credit cards available to consumers choosing the best credit card offer can seem overwhelming.
Even though there are many websites that list available credit cards, their terms, incentives, and other information choosing the right card can still be hard.
If you are looking for a credit card here are the three most important considerations to make choosing one easy.
The interest rate, incentives, and credit limit are the three most important considerations to make when choosing a credit card.
All three have a big impact on how much you can spend and what you will end up paying for purchases.
The first thing to look at when evaluating a card offer is the APR or annual percentage rate.
This is the interest rate you will pay on the balance left on your card for more than one billing cycle.
If you carry a balance you will end up paying a lot in interest unless you get the best rate possible.
If you have good credit you may qualify for an interest rate as low as 6 or 7 percent.
However, if you have poor credit your interest rate may be as high as 23 percent or more.
Included with the interest rate information is the fee information which will tell you how much you have to pay in late fees if you make payments late and if there are any annual or activation fees.
The best credit card offers will not have any annual or activation fees.
It is also important to consider the credit limit of the card you want.
The type of purchases you are planning to make will help you determine how much of a credit limit you will need.
If you want a credit card to make one large purchase you will need a credit limit to accommodate the purchase.
If you are planning using the credit card for monthly expenses and paying it off a lower credit limit will suffice.
You should also consider the incentives and rewards that come with the card.
Many credit cards give users a percentage of their purchases as cash back or give points for every dollar spent that can be used to get merchandise, gift certificates, travel miles, or other things.
If you have good credit you should have no problem finding a great reward card but make sure that the reward is worth it and not made more costly by high interest rates or fees.
A great place to find the right credit card for you is http://www.
mycredituniverse.
com