What to look for while buying credit card?

credit cardCredit cards come really handy while shopping, saving you from the tension of carrying huge cash. Are you too planning credit cards off late? Well, that’s good- there are many credit card issuers out there but not every card around could be compatible for you. There are several factors to look for while purchasing a credit card. The post here is a brief on the things to consider while buying a credit card.

The primary thing to look here is the interest rate which is stated as APR for the credit cards. Conduct a market survey on 6-7 competent credit card companies to ensure a comparative study. A good comparative study can locate competitive rates for you. Now, there can be two types of interest rates in credit cards- fixed rate & variable rate. Its better you opt for fixed rate as here the rate of interest is not going to change with each passing month. However, it’s to mention here that your credit card needs will also determine your choice of credit cards. If you are very strict about paying up the bills on time, you won’t need to worry about the interest rates. But if you have the habit of carrying on the balance, the interest rate is a major factor to consider.

The credit card reward is another vital consideration while choosing your credit card. The credit card companies often come with several rewards for the user but in some of the cases these rewards lack the functional value. Always make sure that your credit card offers functional rewards such as discount vouchers on flights. Then, you must be careful about the fees & charges associated with the credit card. Your pick would be the one that assures no fees on transaction & 0% interest for minimum 1 year.