How Do I Know Which Credit Card is Best? | CreditShout

How Do I Know Which Credit Card is Best?

By Kevin / October 21, 2010

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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.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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