Anyone can find a credit card offering a low introductory interest rate. Many credit cards out there advertise offers to entice customers. The challenge is to find a card with the best terms that you can live with. Opening and then canceling a card affects your credit score, so it is preferable to select the one that meets your needs before applying.
The four major cards are Visa, MasterCard, American Express and Discover. Each of these has a website you can check out to view their offers. You want to find a card that charges a reasonable annual fee or if possible, none at all. There are some cards that charge an annual fee like the American Express Platinum card, but offer fringe benefits such as a free airline ticket for a friend.
Most major credit cards also throw in additional benefits like roadside assistance, zero liability on fraudulent charges, and rental car insurance coverage.
Look for what is called a reward card if you want to earn rewards by using the credit card. If traveling is your thing, the best card for you may be airline cards. While you continue to use the card, you earn mileage which you can exchange for a ticket. Some reward cards give gift certificates, merchandise, hotel stays and cash to loyal customers.
There are also what you call specialty cards that give free credit scores, discounts on utilities like phone bills, and theme park tickets. Some specialty cards also benefit various causes and allow you to donate your rewards to a charitable institution.
One other kind of reward card is one that offers rebates. A majority of these reward you one to five percent on eligible purchases. Some cards specialize in giving gas rebates. It is usually best to use these cards at a stand alone station instead of a wholesale club station so you get the full rebate.
Whatever card you choose, be sure you read all the terms and conditions. Keep in mind that interest rates can change dramatically and annual fees can be steep. If you know what to expect, chances are you will be satisfied with your choice of credit card.
To keep your excellent credit score, don't max out your account. Avoid carrying a balance but pay off the entire statement balance each month. It is best that you keep two or three major credit cards like Visa and American Express for charge purchases. If you want, you may also keep onefor emergency purposes.