Choosing the Right Credit Card

1. How much can I afford? The general rule is less than 10% of your total monthly income. Of course this differs from every persons budget. Paying off high credit balances with less than 10% of any one's total income (depending on the balance and income amount) can be a painstaking task. To avoid debt, keep your balance reduced and try to pay off the card every month.

2. What is the interest rate? The interest rate offer normally depends on the card you are applying for and also your credit rating. We organized sections (above) that will allow you to apply for a credit card with sections of: good credit, poor credit, student cards, and business cards. You should check your credit history at least once per year to ensure there are no discrepancies and get them corrected before applying.

3. Which card should I apply for? To begin, we list the cards that we feel offers better terms, usability, and rates first. After you click on a card product, or a credit profile (good credit, poor credit, etc.) you will see an entire list of cards.

• You should apply for a card listed under good credit and rewards cards if you have a fair to excellent credit history. For example, good credit will build after paying off or financing a debt such as a car, bank, or home loan, or other credit cards for two years or more. There are many factors that will build a solid credit history that we will get into later.

• The section for poor credit should only be applied for if you have recent negative credit marks on your report. This involves bankruptcy, delinquent accounts, etc. Get a card here and pay on time, within one to two years we recommend that you apply for a card with better terms.

• If you wish to view opinions of other card holders or want to share your own opinions, you can go to our card review/rating system.

• If you have incorrect items on your credit report, we recommend consulting directly with the credit reporting agency to dispute items.

• We also list cards for students. Students with little or no credit can apply at this section and normally get a rate better than the section for poor credit.

3. Is there a grace period and how long is it? Credit card companies normally give you at least 25 days to pay off your outstanding balance before they begin to charge interest. This is important if you want to pay your bill off monthly and avoid interest charges.

4. Are there annual or other fees? Again, it is extremely important to read the terms and conditions before applying, like every contract.

There are other factors to be considered before you apply for a credit card. We always recommend that you read the full terms and conditions that are supplied at the issuers website after you click on the application links.

Similar pages: The Credit Guide