Credit Cards FAQ

Frequently Asked Questions about Credit Cards

How do I decide which credit card is right for me?

There are many factors you should consider when choosing a credit card. When considering a credit card offer, you should take into account the card's features, such as the APR, the length of the grace period, the credit limit, annual fees, cash advance fees, balance transfer fees, late fees, fees for having a balance above your credit limit, any other fees, and whether the card offers any rewards. You should also consider your own financial situation. What is your credit history like? How much are you likely to charge to credit each month? Are you able to pay your credit card bill in full, or do you carry a balance? Do you have existing credit card debt or other significant debt?

These are all good questions to ask yourself when choosing a credit card and your answers to these questions should determine which card is right for you. For example, if you know you will need to carry a balance on your credit card (not pay it off completely each month) for the foreseeable future, then you will want to find a card with a low ongoing APR. If you are looking to make a large, one-time purchase in the short-term and pay it off over 6 months to a year, then finding the lowest introductory APR card would be a wise move. If you always pay your bill on time and in full, then a rewards program may be most important to you.

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