From past decade, we can acknowledge an adequate growth in the number of credit card users. It is estimated that the net worth of the whole country is way less than the whole sum credit card users owe when added up. Such is the show credit cards have garnered in recent years. One can address tens of reasons when asked about the necessity of credit cards and question the demand.
The ongoing demands for the credit card came out of nowhere, it is the variety of benefits they offer that drew people to opt the services. With the help of a credit card, you can buy whatever you want and pay off the dues by the month end with no interest amount. You can ignore the efforts of carrying heavy cash, cash out at any place using a mere electronic card. After all, who doesn’t want a credit card?
Thousands of people apply for new credit cards and all this phenomenon is at its peak stage due to the luring benefits and payback schedules put all together. However, in these situations, all you wish is to have a platform where you can have a quick glance at the credit cards available in the market so that you can pick the right ones all in a simple go.
So, here after doing an essential research, I found a web platform where one can find their desired credit cards, compare them with other ones and proceed further- APPLY FOR THE CREDIT CARD HERE.
1. Annual Percentage Rate (APR)
The first thing that comes to any person’s mind is APR. When you fail to pay your credit card debts in time, you have to end up paying an interest rate for the amount you owe. This total amount will be calculated with the APR you are assigned to according to the agreement.
Now, as there is a huge competition for the credit card business, many companies are lowering their APR rates, where for a while you can pay down credit card debt with a lower interest rate which sometimes might be 0%. You can even pull an advantage out of it by transferring a balance from another credit card.
But, keep in mind that if you won’t pay the wholesome in time, your APR might revert to the default rate and that isn’t good.
2. The Cost of Keeping the Card
Well, nowadays, maintaining a card has become a tougher job than getting one. These credit card companies shower a lot of offers, great perks and impressive benefits, with all these taken into consideration, you might end up rolling off some unexpectedly decent amount. So, be sure which credit card are you selecting in the first place, in that way, you can avoid the dire consequences.
Sometimes, the cards that charge an annual fee may offer better rewards and many of those rewards like the coupons on traveling can offset the cost of the fee. You can proceed with this because here you are saving some decent bucks and balancing the annual fee taking advantage of the perks and rewards. Also, consider the foreign transaction fee factors.
This is one of the vital reason for which people choose credit cards. Sometimes, the cash backs might be so extensive that they will end up roping in bigger discounts than the stores ever really offer even at the clearance sales. You can avail your credit card benefits by using them at the gas stations, grocery stores, or certain shops or online retailers. After all, there is no benefit if you end up using your real cash while buying things.
On the whole, rewards credit card is really rewarding when you pay off the dues in time and don’t mess up with interests. These cards typically have higher APRs, but offer larger sign-up bonuses and give you points, miles or cash back on every dollar you spend.
4. Credit Limit
Now, this depends on the way you utilize your credit card and the reason for its necessity to you. The card that provides you flexible enough to draw enough money at the needy times is a perfect one. In general, if you are a college student, then a low-limit card is a good option for you.
Once you are done with your studies, you may need a higher limit for the monthly expenses. And when you take a credit card with a higher limit but use almost none of it, then this will eventually help you in improving the credit score.
Summarize all the above factors before coming to the conclusion. After an interpretive research from my side, I came up with a platform where all the generic credit card companies are enlisted in an organized attire. To have a glance at the same, you can hop on and APPLY FOR THE BEST CREDIT CARD AT ONE CLICK.