The best credit card companies have the following important things in common: they are accepted by most sellers, they have great rewards, they have a good interest rate, they have effective customer service and they have low or zero annual fees. Consider this, and the following advice, when looking for the best credit card company.
Major credit card companies include Visa, MasterCard, Discover and American Express. Online vendors typically accept all of these, and Visa and MasterCard are accepted at most brick and mortar stores and restaurants. American Express is still accepted on a limited basis due to fees that vendors need to pay. Discover card is the most limited as far as acceptance goes; however the company seems focused on improving.
If you travel, consider getting a card that will give you frequent flier miles in exchange for your purchases. Most major airlines have their own card which will give you frequent flier miles added directly to your account. Other attractive benefits found with the best credit company include cash back or even contributions to charity. Credit cards with stores that you typically shop often offer discounts upon opening an account with them and on special days.
Interest rates for the Visa and MasterCard vary greatly for the type of card you choose, so be sure to read the fine print when applying. Interest rates quickly add up and have you owed much more than you bargained for. Pay attention to grace periods because if you pay your balance within a certain time frame, your interest charge may be reduced or not applied at all. Be especially vigilant in monitoring with low introductory rates which go up after a limited time frame. An attractive rate can quickly go up with time or late payments.
In your search for the best credit card companies, check sites such as the Better Business Bureau for a company's customer service ranking. If your card is lost or stolen you want quick and friendly response time in closing the account and replacing your card.
Some cards charge a large upfront annual fee regardless of how much (or if) you use your card. Beware of this charge because it usually means that you will have a balance which needs to be paid the minute you open your account. Some credit companies will waive the annual fee if you call them directly.
In conclusion, to find the best credit card to fit your needs, weigh the card for its accept where you shop, rewards that you can use, a great interest rate (fixed term), great customer service and last but not least, zero or low annual fees.