THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.
Credit Shout may collect a share of sales or other compensation from the links on this page.
That is a personal decision, just as choosing a bank or doctor or anything else is. However, you can look at the different benefits and incentives that are offered by credit card companies to see which ones can best suit your needs.
One thing you can look at is annual fees. Some credit card companies charge them for specific cards. And, even then, the amount can change. For example, Chase Financial Systems offers several credit cards, and they have different annual feels. Ink Plus is $60; Chase Sapphire Preferred is $85. Other companies may charge as much as $90 for an annual fee.
There are even credit cards that can be had with no annual fees. These include Chase Freedom Visa, Chase Freedom MasterCard, and Chase Sapphire. So, if you don’t want to pay annual fees, choose one of these.
Another thing you can look at is Annual Percentage Rates (APR), otherwise known as interest rate. Some start off low, between 10% and 13%, but are variable. This means that if the prime rate increases so will the credit card. Others are fixed rate, which may be a little higher (15% to 20% or even higher) but that interest rate will stay the same no matter what the prime rate does.