A credit card is a very useful tool that unleashes exciting possibilities for you. If you are on a steady income and can pay off your credit card bills without a glitch, you should definitely opt to get one.
When selecting a credit card for yourself, you must keep in mind a few factors. Use the following list to compare credit cards before making your decision:

Spending Habits:

If you want to use your credit card to make a lot of purchases, choose one that has a high credit limit. If you intend on paying off your credit every month, the interest rate doesn’t matter. But if you want to leave a bit of balance while paying your credit card bill, choose one that has low interest rates.

Credit Limits:

Like we said earlier, if you are going to use your credit card often or for big purchases, get a card that had a high credit limit. The credit limit refers to the amount your card issuer is willing to let you borrow. Always keep your spending way under your credit limit. Don’t max out your credit card. In some instances, if you do so, your bank might cut your spending limit to as low as your remaining balance when you max out, with a penalty attached.

Interest Rate:

A credit card’s interest rate – or APR – represents the interest rate you’ll be charged if you carry a balance over from the previous month. The interest rate is never fixed. It’s totally on the credit card issuer to change the interest rate. They will just notify you when changing it.

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Fees & Penalties:

Make sure you are aware of what the annual fee or penalty charges are on the credit card you want to get. There are a lot of things a bank can charge you extra for. Some of these include fees for balance transfers, transactions and credit limit exceeding. Look for a card that charges a minimum rate for on balance transfers and offers with no transaction fees and zero percent interest for at least a year.

Reward Programs:

There are certain credit card issuers that offer you incentives or rewards for your purchases. Assume there’s an eatery or an outlet that you frequent regularly. Wouldn’t it be nice to get a credit card that offers you a 20% discount on all your purchases there? These reward programs can be very convenient, but be careful not to select a card that charges extra for these benefits. Choose one that incorporates these incentives in their plan for free.