What to Think About When Comparing Credit Cards

Choosing a credit card from the endless options can be daunting, but there are a few key tips that may ease the process.

Credit Score

It’s important to know your credit score when applying for a credit card so you can immediately narrow down viable options. Some higher-yield cards require excellent credit in the 750–800 range and may be beyond the average user’s means.

Prioritize

When choosing a credit card, have a checklist of priorities to keep a clear idea of what benefits are vital to you. There are endless incentives offered from travel miles and cashback bonuses to low interest rates and zero foreign transaction fees. Having priorities helps users stay focused on what works best and not on the myriad of features boasted by credit card company advertisements.

Smart Applying

Users should be leery of applying for too many cards. There will be appealing promotional offers for opening cards in department stores and online, but opening a card just for incentives only to close it soon after will negatively affect credit. A low credit score will then affect future credit card applications, as being denied for a card also reflects negatively on customer scores.

Novice card owners looking to build credit should research top credit needs, and their credit score and make thoughtful choices.