Credit Card Payments
First you need to consider how you will pay off your
credit card balance each month. If you will be paying
off the full amount each month, a low interest rate
would be of little benefit so you should look at other
loyalty rewards such as airmiles, charity donations,
reward points or cash back. Many companies will offer
these loyalty schemes as a reward for using your card.
For example, you may gain points every time you purchase
goods or services on your card.
If you do not intend to pay
off your balance in full at the end of each month,
(perhaps you are purchasing an expensive product /
service and would like to pay it back in instalments
or you have transferred a large amount of credit to
the new credit card which you can not pay off in full),
then it would be best to find a credit card with a
low interest rate. Many companies offer a very low
introductory rate or a ‘teaser rate’ for
a limited period of time, on balance transfers and
purchases. This is great to take advantage of if you
are making a big purchase as you can pay it off in
instalments without having to pay interest. Also if
you are paying high interest on a current card balance
it may be advantageous to switch to a new credit card
and save money whilst you enjoy the interest free
period. Click
here for cards with low interest rates.
Credit Card Protection
It is worth considering a credit card that offers
protection on your purchases against loss, theft and
purchasing online. This is for peace of mind and reduces
any risk when purchasing goods. Click here for more
information about protection. It is also worth considering
purchasing a Credit Card Plan which will cancel all
your cards with one phone call if they are lost or
stolen.
Style
If you have whittled your choice of credit card down
to just a few that seem to offer what you need and
you can not decide between these choices then why
not use style to finalise your decision. Credit cards
come in many different designs and styles; if you're
feeling flush, why not opt for a platinum
or gold card - which is seen a something of a
status symbol in certain circles....
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