When it comes the perfect credit card, everyone has their own idea of what the word “perfect” means.
Defining this early on puts you on the path to finding, applying for, and securing the perfect credit card that best suits your wants and needs.
Depending on your level of experience with credit cards, you may have some questions about what’s best for you. Here are some questions you can address to help clear the air:
1. Which features are most important to you?
Some people don’t care much about the features of a credit card, as long as they have something they can use. Others, however, realize that there are specific features that’ll make life easier on them.
For example, you may be most concerned about online account management. Another person may turn their attention to security features. And of course, there are those who are seeking out a credit card with the ability to earn cash back or rewards points.
Start by making a list of three to five must have features.
2. What is your credit score?
Even if you think you know your credit score, you’re best off double checking this before beginning your search for a credit card.
If you have an excellent score, you’re likely to qualify for almost every offer you come across.
Conversely, if your credit score is on the lower end, you’ll need to narrow your options.
3. How do you use your credit card?
Do you use it for almost every purchase you make? Is it only for emergencies? Do you typically use it for large purchases only?
The way you use your credit card will impact the type that you choose. For instance, if you only use your credit card for emergencies, you don’t want to pay an annual fee.
4. What category of credit card are you most interested in?
Even if two credit cards appear similar on the surface, they’re sure to have a variety of unique features. Every card fits into a category, such as:
- Secured or unsecured
- Cash back
- Rewards
- Travel
- Balance transfer
- No annual fee
You’ll find that some credit cards only fit into one category, while others cross over into several.
With a basic idea of what category suits you best, it’s much easier to narrow your options and compare offers.
Final Thoughts
Once you know the answers to these questions – among any others that are on your mind – you’ll feel more confident in your ability to apply for a credit card that suits your every want and need.
Don’t sell yourself short. There are hundreds of offers to choose from. When you exercise patience, you’ll eventually find what you’re looking for.
