Every person has unique likes and dislikes on just about anything under the sun and this includes credit cards. It is for this reason that there is no particular credit card can be deemed perfect by everyone. Your personal preferences, especially on rates and rewards, determine which ones you regard as the best. Moreover, a card of your liking may not be the most suitable for you depending on your financial profile. It is therefore important to evaluate your financial stature and your “wish-list criteria” in order to find the best credit card for you.
Student credit cards for beginners
Credit card companies, these days, are more than willing to offer students an opportunity with specially-designed student credit cards. In fact, issuers nowadays target students on card offers as a way to increase the number of customers. Some issuers require having someone to co-sign for your card because issuers are under the impression that students do not have a fixed income.
However, you should not rush into getting your first card unless you are confident of your approval because numerous rejections could dent your credit score temporarily.
Therefore, if you are a student and in a quest to find the best credit card, student credit cards are your best bet. Generally, a perfect card for students or beginners should have low interest rates and no annual fees. Always make sure that you study the fees and rates disclosed in the application.
Store and gas credit cards are good for everyday needs
Typically, store credit cards and gas credit cards are easy to acquire and very useful as well because they caters to your basic needs, such as food and clothing. This card type is very appropriate if you rarely carry any cash and prefer to use your credit card for everyday needs. So, for shopping sprees and gas, department store credit cards and gas cards are your best options.
Secured credit cards cater to individuals with credit issues
Inadequate credit history and low credit scores can be huge hindrances in your quest to find the best credit card. Luckily, secured credit cards are perfect for this as they allow you to have a credit card regardless of your credit deficiencies. However, credit card issuers require you to make a security deposit (as collateral) prior to acquiring the card. The deposit ensures that the balance gets paid in case you fail to fulfill your payment obligations. Furthermore, the amount deposited as security also counts toward your credit limit.
Credit cards have several unique features. Before applying for one, always correlate your financial capabilities, credit rating, and personal preferences in order to find the best credit card.
Leave a Reply