Choosing the Best Credit Card

By Mary M. Alward

With the countless credit cards available today, how can you choose the perfect credit card for you? The number of cards that's available can work in your favor. Don't snap up the first card offer that comes your way. Shop around and use wisdom and discretion when choosing the perfect credit card for you.

• Take advantage of 0 % interest offers, but use caution. This introductory rate is only for a limited time. Check to find out what the interest percentage is after the introductory period expires.
  
  
• Some credit card companies offer you the option of cash-back. Use this option only for emergencies, or not at all. Interest on cash advances starts the minute you make a withdrawal. This can add up if you don't pay your balance off each month.
  
  
• Check the introductory clause. Does it cover transfers, balances, purchases or all of these things?
  
  
• Be sure the credit card company doesn't charge an annual fee. These are no longer normal and there are several companies that will issue a card without a fee.
  
  
• No matter what the introductory interest charge, investigate what interest you'll be paying once this period ends. These are usually either three or six months, but introductory offers sometimes end on a certain date.
  
  
• If you plan on transferring the balance from your current card to your new card, check the fine print for transfer fees. Look for cards that offer 0 % on transfer balances until they are paid off.
  
  
• Many credit card companies offer incentives to tempt you to take their cards over others. Use caution. Don't become so focused on the freebies that you sign up for a card with an out-of-sight interest rate.
  
  
• How long is the "grace" period? This is the amount of time between a purchase and when interest begins to accumulate. Many credit card companies offer a "grace" period that enables you to pay off your card by a specific date each month without having to worry about interest fees.
  
  
• Read the fine print to find out what charges will be incurred if a monthly payment is missed or if you exceed your credit limit.
  
  
• Check to see if the credit card company charges a monthly fee if you do not use your card.

If you follow the tips in this article and make wise choices, you will have the perfect credit card. Remember to use your card wisely and try to pay it off each month for a positive credit card experience.

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