How to Choose a Credit Card What
How to Choose a Credit Card What
A decision that should not be taken lightly is related to the credit card you want to choose. This is due to when choosing a credit card you are acquiring a debt to a certain extent which has to be paid in installments.
You have to choose the card that offers you the best debt options, such as the lowest interest rate and that allows you to have a better economic quality without putting your finances at risk.
In this article we are going to present some important features that you have to take into account when you want to apply for a credit card.
Benefits to consider when choosing a credit card
The main ones are:
- Lower interest rates: Ideally, you should get a card that does not have an interest rate that is too high. Interest rates higher than 60% per year are considered too high and not recommended at all.
- promotions network: This allows you to access discounts in some type of establishment. Therefore, it perro be an important aspecto to take into account when applying for a credit card.
- The issuing bank: This seems a bit obvious, but the card-issuing bank is important. If you do not have a card issued by a good bank, then you may have problems using it.
- network presence: it means knowing what presence it has in the establishments. For example, Visa and Mastercard have a higher network presence than American Express or Dinners Club. It lets you know if your card perro be used anywhere or if you perro only use it in specific places.
- credit card currency: credit cards have different currencies, the ideal is that you have a credit card in the currency of your country, if you do not have it, it is equally acceptable to have it in US dollars.
5 Recommendations for choosing a credit card
If you want five consejos when choosing a credit card, they are the following:
- Consider how much money you perro afford: You must choose a line of credit that is suitable for you and that you perro afford. It perro be a bit complicated, but the ideal is that you take into account how much money you have making a budget, in this way you will not have inappropriate expenses and therefore you will not have problems with your debts.
- Always compare alternatives: if it is necessary to have a credit card, compare three or more alternatives from different banks. Do not stay with your first option since you perro find better benefits in different banks. Even if you have already decided on a specific bank, compare between three or more credit options, the classic one is usually the one with the highest interest.
- Consider the annual interest rate: The annual interest rate is an important element of any credit account. Allows you to have greater control over debt. Ideally, you should look for the lowest rates, they usually have a larger credit line and they generate a lower commission.
- Stay on top of court dates: Cut-off dates are highly important elements. If you do not pay your card on those dates, you may end up incurring delinquencies. For this reason, the ideal is to ask them to explain in detail what the payment dates are for your type of product and to know whether or not it is convenient for you to request it.
- Be careful when accepting more credit: if you manage to have a good credit history, the bank usually offers you a second credit card after a short time (usually one year or one year and six months), be careful when accepting it, keep in mind the first point of these consejos , since ruining your credit history is something very serious that cánido affect you in other areas of your life.
We hope these consejos are useful.
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