Before you apply for any of the top credit card offers, you should ask yourself what you hope to get in return. The following questions can help you decide which credit card offer is the best for your needs and goals.
- Do I plan to carry a balance? Many of the top rewards credit cards charge high APRs that make carrying debt an expensive proposition. If you need to carry a balance from time to time, you may want to consider a credit card that offers 0% APR on purchases for a limited time — usually between 12 and 20 months — when you first get the card.
- Do I have high-interest debts to consolidate? If you already have a lot of credit card debt, then a new credit card may be the last thing you need. But on the other hand, a new balance transfer credit card can be used to consolidate and pay down debt at 0% APR for a limited time.
- Am I interested in rewards? If you don’t need an introductory offer on balance transfers or purchases, then you should certainly get a credit card that earns rewards on everything you buy. In addition to earning either cash back or travel rewards on each dollar you spend, you may even be able to earn a generous sign-up bonus.
- What type of rewards would benefit me the most? With so many options, it’s important to take the time to decide on the type of rewards you want to earn. If you travel often, then a travel card that earns points or miles might be best for you, while other people may prefer to earn cash back on a credit card, which they can then use to buy anything they want.
- Am I willing to pay an annual fee? Credit cards with the best perks tend to charge annual fees, although there are plenty of great card options without one. If you are comfortable paying an annual fee for a credit card, make sure the benefits or rewards you get in return are worth it.